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For Facebook, this week can't be worse than last week was. Can it?
Actually yes. Because the withering stories that the social media giant endured last week were all about the past: reports on things like how Mark Zuckerberg and Sheryl Sandberg reacted to bad news and led the company to a dearth of user trust (and a stock price that is down 36 percent since July as of Friday).
The focus now is quickly shifting to the future--and a problem that people wouldn't have expected Facebook could face even a year ago.
That's because its recent troubles could well make it harder for Facebook to amass the single most important asset that any innovative tech company needs to keep growing and dominating: the best people.
Some are leaving, and reports say some others don't want to work at the company to begin with.
Zuckerberg's new management style, arising from his belief that Facebook is now "at war," according to the Wall Street Journal, has reportedly driven "several key executives from the company."
On top of that, the New York Times followed up on its damning investigative story last week by interviewing computer science students who said they're far less interested to work at Facebook than graduates a few years ago.
If Facebook does lose that edge in recruiting, it's losing something big--the people and power to innovate and to even be in the running to acquire other game-changing companies.
Can we find a silver lining for Zuckerberg this week?
He was supposed to have to travel to testify today in a lawsuit brought by Facebook investors. But Facebook paid $69 million last month to settle the case. So at least he won't be spending the day in the Court of Chancery in Delaware.
Here's what else I'm reading today:
Tim Cook: "The free market isn't working"
Apple CEO Tim Cook says he fully expects that new government regulations will be coming to tech companies, and that the companies should embrace the inevitable rather than fighting. "I'm a big believer in the free market. But ... it hasn't worked here. I think it's inevitable that there will be some level of regulation," he said in an interview.
--Mike Allen & Ina Fried, Axios
A run on protective masks
Among the many horrible ramifications of the California wildfires, which has taken 777 lives and left 993 missing as of this writing, air quality in places like San Francisco is so bad that stores are running out of protective masks. Some Uber drivers are now selling them out of their cars.
--Shirin Ghaffary, Recode
Former New York City Mayor and possible 2020 presidential candidate Michael Bloomberg made a massive donation--$1.8 billion--to his alma mater Johns Hopkins University, intended to make the university's admissions "forever need-blind." It's believed to be the biggest modern private donation ever to higher education. Prior to this donation, Bloomberg had reportedly given $6.4 billion to charity.
--Nick Anderson, The Washington Post
Tomorrow is your day
Tuesday is National Entrepreneurs Day. And while raising a glass to yourself might feel a little silly, it's a chance to at least take a minute and feel appreciated for the risks you take, the hours you put in, and the ideas you bring to fruition. President Obama created the day via proclamation in 2010, and President Trump is continuing it. Finally something both parties can agree on.
--Leigh Buchanan, Inc.com
How an amazing review killed this restaurant
Last year, Thrillist named Stanich's, a restaurant in Portland, Oregon, the place with the no.-1 best hamburger in the United States. What happened next is a cautionary tale and a commentary on what happens when a business suddenly becomes too successful. In this case, sadly, it involves a "CLOSED" sign on the door.
--Kevin Alexander, Thrillist