Facebook just set a $119 billion record for failure

Mark Zuckerberg has done it again. 

The Boy King of Silicon Valley is renowned for creating the world's largest social network, potentially swinging at least one US presidential election, and suing native Hawaiians to keep them off his 700-acre-island estate. But on Thursday, he adds another questionable feather to his surveillance-capitalism cap: Overseeing the largest single-day loss in market value in US history. 

That's right, it's official: As of the closing bell today, Facebook's market cap had dropped 19 percent. That's a roughly $119 billion loss in value. You see, it seems that Wall Street wasn't stoked Wednesday when the social media behemoth reported revenue and daily active-user numbers below expectations.   Read more...