, Columnist
Facebook Is Spending Like an Oil Company
Capital costs will more than double to at least $14 billion in 2018, which makes it a lot like Exxon.
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Facebook, can we talk about your spending?
The company is going on a spree. Facebook has said its costs for web video programs, people to patrol the social network for abusive posts, its virtual reality project and other investments will swell by 45 percent to 60 percent this year. Investors are mostly fine with this. The company has justified the spending on its top priorities, including guarding against Russia-backed misinformation campaigns or other abuses.