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Facebook fake news and fake accounts

It’s quite rare to see anyone without a Facebook account these days. However, it does seem overly suspicious when the monthly usage is stated to be over 2 billion. Aaron Greenspan is a former classmate of Mark Zuckerberg and he states that Facebook is downright lying about its monthly usage.

In his report, Greenspan accuses Facebook of lying to the public for a very long period of time. He believes that there is a huge problem with fake accounts. The report states that over 50% of Facebook’s accounts are actually fake. If the data turns out to be true, Facebook would be commiting fraud on a never-before-seen scale. Greenspan stated:

The truth is that at the moment, Zuckerberg may in fact be the greatest con man in history. Pulling off a complex fraud at one point valued almost ten times the scale of Bernard Madoff’s legendary Ponzi scheme

Greenspan is referring to the amount of money Facebook makes from ads. The more users Facebook has, the more money companies are willing to give to have their products advertised.

Is Facebook the biggest community for fake news?

Zuckerberg’s former classmate is the founder of Think Computer. The software company is based in California and he also runs a legal research website called PlainSite. According to Greenspan, the significance of this systemic fraud simply cannot be overstated.

Official data from Statista, shows that last year, Facebook has earned more than $33.8 billion from advertisements. Another alarming note raised by Greenspan is that Facebook has been lying ever since 2004. He says that the management has been fully aware of this for years but has done absolutely nothing to stop the process. The report mentions how the “Ponzi” scheme works:

Companies start advertising on the social network with the intent that their product will reach 2 billion actual human beings. If over half of them aren’t even real, then this means the money are just thrown in the furnace.

The fake accounts are programmed to randomly respond to ads and like random pages in order to evade anti-fraud algorithms. This activity essentially defrauds advertisers, but at the same time rewards the company with tons of revenue.

These accounts often resort to defrauding other uses through scams, mass media news, extortion and other forms of deception. Greenspan is not surprised by the huge amount of fake accounts. He says that Zuckerberg wants to expand the network’s monopoly at any cost.

With a grain of salt

Of course it’s largely known that Greenspan has a history with Zuckerberg. Greenspan’s online student portal named “houseSystem” has been viewed as the predecessor to Facebook.

Back in 2008, Think Computers filed a trademark complaint against Facebook. The dispute was later settled via a confidential settlement. Zuckerberg even released a statement in which he praised Greenspan for building Facebook’s predecessor.

Last year wasn’t so good for Facebook and its stock either. Zuckerbeg’s company was shattered by many scandals and allegations. A lot of users reportedly stopped using the network entirely after they learned that the company has been selling their personal information to third-parties for years.

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