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it would spend billions of dollars on security putting privacy before profits. that will cut into earnings for years. facebook lost $119 billion in market value. $119 billion. that s the biggest single day loss for a public company. $119 billion is more than the value of most companies in the s&p 500. what it lost is more than the value of most companies in the s&p 500. including costco and american express and cvs. it took $16 billion off the value of mark zuckerberg. he is now the sixth richest person. facebook plans to put privacy first. a direct result of the data scandal. it will invest billions to combat fake news and election meddling. hate speech. facebook says it is working to improve the platform. it just removed four video s