This morning’s Observer column.
Last week was Davos week, the time of year when 2,900 movers and shakers (only 17% of whom are women, incidentally) congregate in a small town in Switzerland to talk the talk. It also means that it’s the week in which Facebook issues its annual Bullshit Report, claiming that it is not only a Force for Good but also one of the world’s economic powerhouses. In 2012 the report claimed that Facebook – an outfit which then had a global workforce of about 3,000 – had indirectly helped create 232,000 jobs in Europe in 2011 and “enabled” more than $32bn in revenues.
Now, two years on, Facebook has more than 1.3 billion users, and its claims have become correspondingly more extravagant. This year’s Bullshit Report asserts that in the year ending October 2014 the company’s “global economic impact” amounted to $227bn – which is roughly equal to the gross domestic product of Portugal – and that Facebook accounted directly and indirectly for 4.5m jobs.
These numbers were plucked out of the air by Deloitte, the consulting company regularly employed by Facebook’s fantasy economics division. I use the word fantasy advisedly, having read the disclaimer at the head of Deloitte’s document…