Robert McNally 🚀
Helping #startups and #leaders bend the great story arc up and to the right. Preferably with red wine.
Federal Facebook investigation could hold Zuckerberg accountable on privacy, sources sayFederal regulators investigating Facebook for mishandling its users' personal information have set their sights on the company's CEO, Mark Zuckerberg, exploring his past statements on privacy and weighing whether to seek new, heightened oversight of his leadership. The discussions about how to hold Zuckerberg accountable for Facebook's data lapses have come in the context of wide-ranging talks between the Federal Trade Commission and Facebook that could settle the government's more than year-old probe, according to two people familiar with the discussions. Both requested anonymity because the FTC's inquiry is confidential under law. Such a move could create new legal, political and public-relations headaches for one of Silicon Valley's best known - and image conscious - corporate leaders. Zuckerberg is Facebook's co-founder, chief executive, board chairman and most powerful stock owner, and a sanction from the federal government would be seen as a rare rebuke to him and the tech giant's historic "move fast and break things" ethos. Often, the FTC does not target executives in cases in which it finds a company's business practices have violated web users' privacy. But critics said targeting Zuckerberg could show other tech giants that the agency is willing to hold top executives directly accountable for their firms' repeated data misdeeds. "The days of pretending this is an innocent platform are over, and citing Mark in a large-scale enforcement action would drive that home in spades," said Roger McNamee, an early investor in the company and one of Zuckerberg's critics. In past investigations of Facebook, the U.S. government opted to spare Zuckerberg from the most onerous scrutiny. Documents obtained from the FTC under federal open-records rules reflect that the agency considered, then backed down from, putting...
Exxon-Chevron Permian slugfest expected to last yearsThe nation’s biggest energy players, Exxon Mobil and Chevron, are emerging as the biggest competitors in the booming Permian Basin, and they’re set to duke it out in the region for more than a decade to come, analysts said Friday. Earlier this month, Exxon Mobil and Chevron both said they planned to grow their Permian Basin production to about 1 million barrels of oil equivalent a day within five years, roughly tripling their current output. “These players are set to increase collective output to over 2.5 million barrels of oil equivalent per day by 2030, leaving all well-established shale producers behind,” said Artem Abramov, head of shale research at Norwegian research firm Rystad Energy. Both companies also are leading the emergence of West Texas’ Permian in the Delaware Basin portion that extends well into southeastern New Mexico, bringing an oil boom to Texas’ neighbor. The biggest difference between them is California-based Chevron has a large legacy position in the Permian that it sat on for decades, while Irving-based Exxon Mobil has had to spend billions of dollars in recent years to grow its acreage into one of the largest positions. As a result, Exxon has to drill about twice as many new wells as Chevron to reach the communicated production goal, Rystad said. But that’s exactly what is happening. Exxon is by far the most active driller in the Permian now with close to 55 drilling rigs in service, roughly double Chevron’s rig count. For context, there are nearly 460 active drilling overall in the Permian, accounting for more than 55 percent of the total oil-drilling rigs nationwide. Chevron has about 1.7 million legacy acres across the Permian’s Midland and Delaware Basins — not counting...