Facebook lost $50 billion in market value in just two days over concerns about data privacy. Across the Pacific, shareholders of Tencent, which owns China’s most popular social network WeChat with nearly a billion monthly active users, remains unfazed.
The risk of a public backlash like what’s happening to Facebook is very low in a surveillance state like China where private firms including Tencent help to censor content. But there are other worries for Tencent’s investors detailed in its quarterly results out Wednesday.
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