Facebook knew for years ad reach estimates were based on ‘wrong data’

I remember not too long ago Uber cancelling previous arrangements with Facebook advertising over a similar fraud.

Why large companies fail - they put revenue ahead of customers.

How long a company can get away with that depends on their moats, competitive landscape, and what alternatives exist. In the case of FB, obviously there's a huge moat and a semi monopoly.

There is some competition from Twitter and Snapchat, but really FB acquiring Instagram doubled their market cap, because that is the only other social platform that has truly reached their scale, and also has an effective, if not more effective, ad platform.

This is also pretty typical even at smaller companies. Different people have different "masters". The product manager is rightfully trying to build the best product for their customers - the advertisers. But the upper management has bonuses tied to revenue usually through stock compensation, so their interest is in their own pockets. The product manager who correctly points out a real issue, is then seen as a negative, rather than someone doing a fantastic job.

“It is difficult to get a man to understand something, when his salary depends on his not understanding it,” as Upton Sinclair put it.

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>Facebook has come clean on a slight error in how it presented video view time on its platform. A mismatch in how average video view time is calculated and how it is defined — resulting in that number being reportedly inflated by a trivial 60 to 80 percent, for a short period of two years.

I don't understand - a "slight" error and 60-80% is "trivial" for a "short" period of two years? Is it just me or is this language excessively apologetic? Or is it meant to be ironic?