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Online privacy weighing on Facebook's stock?

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  • Description

    Site co-founder admits privacy concerns force him to keep low online profile

  • Duration 2:58
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FaceBook stock taking another pounding today at the corner of wall and broad it's been trading.

Around 28 bucks down nearly a dollar keep in mind this comes after shares plunged nearly 10% yesterday.

So it's now trading roughly around ten dollars less than it's -- putting price.

Experts say one factor in Facebook's poor performance on Wall Street may be the web sites looming privacy issues.

In a rare magazine interview the man who co founded FaceBook Eduardo Severin admits that he keeps a low profile on the site because he's apparently worried.

About protecting his online privacy.

Mark Zuckerberg himself has also apologize to FaceBook users over privacy lapses joining us now PR consultant Peter -- -- and Peter when the co-founder comes -- says you know I'm kind of concerned about my privacy.

Not exactly a huge voter confidence.

It's not a good thing traits.

What reputation only FaceBook is definitely taken a hit they were caught flat footed on the on the roll out.

And on the IPO.

Now they are dealing with as you said these privacy issues one of the co founders is as as much said so in this interview.

So I think that that -- rocky times ahead for FaceBook which interest thing is that you know this reminds me of you know the initial dot com boom when you had entities like this -- came out.

That one was very excited about.

And this could be one of those cases where you know FaceBook -- -- live up to what the promise of this.

And if that's -- the -- -- -- people kind of feel vulnerable than their pictures and their information is kind of getting out there look we all know that that FaceBook uses this stuff to to build marketing profiles.

But when your personal information is getting out there I mean do you see a scenario where people just kind of start.

Veering away from FaceBook.

You know -- I mean did that with so it -- interest thing about the culture we live in now.

Is FaceBook is very cool and in an -- it's not.

And and backed out very well happen here when -- whether -- privacy and and and and folks just getting tired I mean it's it's saturated.

People's time it is a all encompassing.

A site that that everybody is -- up to get started out as a way to reconnect with people and share photos with family.

And he's become really.

Almost an obsession for a lot of folks but.

Again and I -- nope sure don't we share some of the blame I mean come on we -- share some of the revenues were putting all the information out there and maybe we're not using the privacy settings like Mark Zuckerberg says we shouldn't do it.

-- -- golf course the users ultimately deserve.

All ultimately have to take responsibility for what they put out there that's absolutely true.

But I'm talking about the longevity of FaceBook as a vehicle for people to use I think that.

The concerns -- -- privacy your one thing but you have four I hate to put it this way but if it no longer becomes hip to be on FaceBook.

It could also suffer -- in terms of its value in the market.

What would happen FaceBook is no longer have Peter -- Janie and PR consultant Peter good to see you thank you sir -- --

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