Published in News
Using Facebook funds Republican campaign
Social notworking friends the GOP
The Social Notworking site Facebook has spent $140,000 "friending" Republicans this election. To be fair it also gave some cash to Democratic candidates too, but not quite as much – about $127,000. The payments have been uncovered during a CNNMoney review of federal records released Monday.
Microsoft stayed away from influencing Washington politics in the early days of their formation. But Facebook (FB) wants to be a political player early in its history. Part of the reason for this is that if you do not bribe the right politicians in the US, you could end up on the receiving end of legislation that could restrict Internet companies from collecting and using members' information. This would stop Facebook's from using its members data to make lots of dosh. When it comes to bribing politicians, it does not really matter if they are Democratic or Republican. They will all do you a turn if you help them get elected.
But politicians on both sides of the house are getting concerned about online privacy. Well they aren't, the people who vote for them are. Facebook seems to believe that it is the GOP who are going to come out on its side. Although technology companies appear to be liberal, the IT industry has doled out more to GOP candidates, $2.78 million, compared with $2.45 million to Democrats.
Microsoft, Cisco and eBay have all given more to Republicans, according to monthly filings through the end of August. Google has given out a total of $652,000 almost equally to both parties, with Republicans edging out Democrats by $500.
Facebook has not given any cash to the presidential race.