You can see the headline in Variety:

“How I spent my summer.  The Facebook story.”  Casting to begin in days.

The one thing that Facebook did not need was more drama, but that is exactly what they got the first week of August.

To recap, the stock price is now under $20.  The estimated loss of value is $50 billion.  Yes, with a “B.”  Facebook admitted that 83 million accounts (over 8% of their total) are fake.  This number includes pages for pets, spam and duplicate accounts.  They said that the problem is worse in emerging markets than in established ones, such as the US.

In July, Facebook clarified that they consider active users to include those who use a facebook account to access a third party site.  Users who play games through Facebook would be included among active users.

Now, for the really bad news.

Limited Run, a startup platform for musicians and artists reported that 80% of their paid traffic from Facebook came from bots.  If true, this is a potentially devastating scenario for a company whose entire monetization strategy is currently under a microscope.

There’s no conclusive story ending here of course.  The latest news is ultimately just a part of the Facebook story and none of us knows how it will end.  Stay tuned.

Thank you to Search Engine Journal for background on this story.