Twitter, Facebook, ByteDance: Hacks, geopolitical risks uniquely relevant for Social Media firms
In less than one month, three episodes demonstrated new evidence of serious risks for social media firms. ESG data can help investors understand the unique tail risks social media firms face, which may include serious consequences.
- Three ESG categories capture majority of attention for ByteDance, Twitter, Facebook, revealing key areas within social firms’ Dynamic Materiality™ footprint
- These categories, Customer Privacy, Data Security, and Selling Practices and Product Labelling, amount to more than half of data volume for Facebook and Twitter over the past two years
- Misinformation and hate speech are in focus due to activists, but also the 2020 election cycle, which exposes social media platforms to risks amply demonstrated in 2016
- Since not all social platform firms are categorized within the same industry, we assemble them as a cohort given their visibility, business risks, and importance to society
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