although i don't mean that they were worried about privacy issues ... i mean more that their brand could be tainted due to all the talk about privacy that is going around at the moment, regarding the big social sites.
They were openly pro-Brexit. Their boss seems to be quite the champion of a "no deal" Brexit scenario.
Now they're closing down their social media accounts within a few days of the Cambridge Analytica / Leave campaign connections coming out, hiding behind some vague justification of trolls abusing MPs.
I reckon we're giving him too much credit. I don't think he's even considered the big picture, privacy, the effectiveness of social media, etc. I reckon he's just woke up one morning and bulldozed the policy through his company on a whim.
FB and ilk have always been problematic for "value". With the recent public awareness of "users as product for advertisers" (data privacy breaches, et al.) stepping back from the precipice might be a good idea.
At least 10% of FB's membership have opted OUT, and Twit might have seen that much or more.
As WEBMASTERS we have been a bit leery of SM being useful (ie. why do I have to channel my traffic to a third party to get traffic, etc) and though some have achieve value in return, the vast majority have seen no benefit. In fact, have seen loss. Be that as it may, the whole paradigm is under scrutiny right now and more bails are possible.