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Facebook is seesawing ahead of earnings (FB)
The revelations that Cambridge Analytica gathered personal information from 87 million Facebook users made some people and small businesses jittery.
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Dr Kogan was questioned by MPs about his role in the data harvesting row. “The patent we applied for in this area was never used in any Facebook products or further developed”.
Furthermore, the company hasn’t addressed changes to its business model – while Facebook doesn’t sell its users’ data, what it knows about its users closely relates to the amount of money it makes from advertisers.
“At a time of heightened concerns about user privacy, substantial API-based access to public communication on these platforms is crucial for scholars precisely because it is only such research that can provide a transparent and independent assessment of the problems that the social media platforms are facing”.
But even with Facebook’s increased spending, executives said that its core ad business remains intact.
But if any of this has caused second thoughts among Facebook users, it’s hard to tell. “Our concept of open democracy has been undermined, subverted and potentially irreparably damaged”, he said.
It’s worth noting that news of the Cambridge Analytica “breach of trust” didn’t break until March 17th, which was near the end of the first quarter of 2018. She doesn’t post much and stays out of politics.
The company offered assurances that it “understands the importance of keeping your data safe” and is “committed to confronting abuse and to putting you in control of your privacy”. Just short of half – 46 percent – see that as a large responsibility of the federal government. The strategy does persuade many people to book another time slot – but it might also make them feel like they’re being tracked, says digital marketing director Drew Roberts. “And for that, I’m sincerely sorry”, he said.
To us, Facebook’s affirmation about user data not getting into the wrong hands sounds more like security than it does privacy.
Kogan also implied that Facebook may have allowed third-party developers to do more with user data through the APIs than what the Terms of Service (ToS) technically allowed. Almost half, 47 percent, unfollowed or unfriended certain people, and 41 percent unfollowed groups or organizations. If this is a data breach then Facebook’s being breached every day. He has denied any link between work funded by the Russian government and his research for Cambridge Analytica.
Yet the company’s number of daily active users in the region grew slightly to 185 million, while global monthly active users rose 13% to 2.2 billion. Older Americans were more likely to say they have followed news of the scandal.
Although Facebook seemed outraged that SCL Elections, Cambridge Analytica, and Kogan’s company GSR abused its policies, when it learned about this supposed abuse, one of its reactions was to hire Kogan’s partner, Chancellor, who is still working for Facebook right now.
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Analysts at MKM discussed Facebook’s handling of the user data scandal saying that they believe the company will take new aggressive measures to prevent the misuse of user data.