Opening Bell 9.18.19 - Dealbreaker

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PERFORMANCE IMPROVEMENT PLAN

Facebook is making a federal case out of it. Well, kinda. Zuck and the gang announced that they were creating a “Supreme Court”- like committee to moderate content on the site after facing criticism related to questionable posts (read: stuff you should send on Snap). 

The “Oversight Board” will eventually be comprised of 40 members split into 5 member teams that will make decisions on cases chosen by the committee. 

Oversight Board members and supporting staff will be paid entirely separately from the firm, and committee decisions will be binding, even if company exec oppose. The only way a decision can be overturned is in the event that it breaks the law. Like, the real law … unlike how this is the fake Supreme Court. Still with me?

So who pays ‘em? 

A trust is being established to pay the new board. The group will be able to hire its own employees, but in the meantime, Zuck has been so kind as to offer current Facebook employees to help get things off the ground. Employees who will be completely unbiased and definitely won’t fear for their jobs/lives should they defy Zuck.

The bottom line ...

Good news degenerates, you can still post whatever the hell you want to Facebook. Whether or not the rest of the Facebook universe sees it ... well, that’s going to be up to the new Oversight Board. 

Whether you like Zuck and Co’s new policies or not, it looks like Jesse Eisenberg's doppelganger is finally taking steps to protect his users. Either that, or he’s just selling the oversight board’s data to 3rd party advertisers. 

Facebook details rules for its new ‘Supreme Court’ that will handle controversial posts [CNBC]

IN OTHER NEWS

- Jay Powell rises to the occasion ... again  [Bloomberg]

- Even China thinks vaping is bad [WSJ]

- NBCUniversal really went and called its streaming service "Peacock" [Bloomberg]

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