Hello and welcome to Explain, where i explain different topics. Today, we will be talking about the Facebook Scandal of 2018. The Facebook Scandal. Now if you have been living under a heavy rock for years or live on Mars, Facebook is a social networking site that was founded in 2004 and was ment to be only used by Cambridge University students. On September 26 2006, Facebook was opened to everybody who was 13 and had a valid email address. Soon, Facebook grew and grew and currently in 2018, 2 out of 7 people use Facebook every month (according to Facebook Newsroom) and has over $84 billion in assets. In March 2018, news outlets started to report on a scandal about a company called Cambridge Analytica and that they were using data from 87 million Facebook users to attempt to influence the political views and opinions of users to influence the 2016 US Presidential Election. During a testimony to Congress, Mark Zuckerberg admitted that in 2013, Aleksandr Kogan (a researc
Hello and welcome to Newsflash, where I talk about news. Today's story is about Toys R Us and it's liquidation. Toys R Us was a toy store founded in the 40s by a person named Charles Lazarus (whom died a couple days after the story arose) and grew into a giant. But they fell, and hard. Back in November of 2016, Toys R Us had a lot of debt. Like, $5B in debt. So, Toys R Us was bought out by three firms and they borrowed lots of money from their banks, and they promised to pay their debt back to the bank; any other person would do the same thing. They were bought out by Kohlberg Kravis Roberts, Bain Capital Partners LLC and Vornado Reality Trust, all of which were private. So Toys R Us went private and everything was normal right? Right? Sort of; they bought out 3 toy websites and got a chunk of KB Toys' dead corpse and got more debt. Then, it became too much. They filed for bankruptcy protection and it got worse and worse until.. On the 14th of March, 2018, Toys R Us