Facebook Inc (FB) Update: Bug Reported, And Is FB Bad For You?

Editor’s Note: Facebook Inc (NASDAQ:FB)

Facebook ignored security bug, researcher used it to post details on Zuckerberg’s wall (The Verge)
If your Facebook Inc (NASDAQ:FB) profile isn’t public, others aren’t supposed to be able to post content on your wall. Khalil Shreateh, a self-confessed IT expert from Palestine, claims to have discovered a vulnerability that lets anyone post a link to other Facebook walls. Shreateh says he reported the bug to Facebook recently, but instead of taking him seriously he claims the company ignored the problem and decided it wasn’t a bug.

Hacker posts Facebook bug report on Zuckerberg’s wall (RT.com)
A Palestinian information system expert says he was forced to post a bug report on Mark Zuckerberg’s Facebook Inc (NASDAQ:FB) page after the social network’s security team failed to recognize that a critical vulnerability he found allows anyone to post on someone’s wall. The vulnerability, which was reported by a man calling himself ‘Khalil,’ allows any Facebook user to post anything on the walls of other users – even when those users are not included in their list of friends. He reported the vulnerability through Facebook’s security feedback page, which offered a minimum reward of US$500 for each real security bug report.

Facebook Inc (NASDAQ:FB)

Facebook Is Bad For You: Get A Life! (Business Insider)
THOSE who have resisted the urge to join Facebook Inc (NASDAQ:FB) will surely feel vindicated when they read the latest research. A study just published by the Public Library of Science, conducted by Ethan Kross of the University of Michigan and Philippe Verduyn of Leuven University in Belgium, has shown that the more someone uses Facebook, the less satisfied he is with life.

Roger McNamee’s 5 Tips for Facebook Marketing Success (Mashable)
Roger McNamee isn’t just an investor in Facebook Inc (NASDAQ:FB). He’s also a client. In particular, McNamee, a founding partner at Elevation Partners, has used Facebook to market his band, Moonalice. The jam band had about 50,000 fans last summer, but is now around 220,000 thanks to some focused marketing on the platform. Perhaps more impressively, there are more people talking about Moonalice’s Facebook Page than there are fans for the Page, indicating a high engagement.

Would you shop online using Facebook? (BBC)
Facebook Inc (NASDAQ:FB) is piloting a payment system that lets users make purchases using just their log-in. People who buy games or gifts on the site and register their credit cards will soon be able to buy products without having to re-enter their details. If successful, it could rival Pay-Pal as a the web’s preferred online payment system. But Mike Isaac, editor of technology magazine All Things D, is sceptical of the plans.