Facebook lost 7% of stock value today because of revelation about user's data was used illegally after being sold by Facebook. Supposedly data collected by a Russian professor at Cambridge was not supposed to be sold to a third party. But it was sold to Cambridge Analytica which in turn was paid by the Trump campaign. It is all very complicated. It is not clear to me that Facebook could have prevented all this. But if this prevents or restricts Facebook or other media companies from selling data, it will have a chilling effect on tech companies. I think selling data is a very significant source of revenue for Facebook and losing it would be devastating.
It is amazing to me that we worry about our privacy when it comes to government snooping around but we let private companies look into our everyday life and even our thoughts. Every time we go online, we are monitored by companies. Yet we seldom complain. I guess there is no way to keep ourselves private unless we don't ever use computers, smart phones, subscribe to Netflix etc. But at least in this case, I did not help Trump since I am not on Facebook! In fact I am not on any social media. As Betty White once said when she found out what social media were: "I think it is a big waste of time!."
Monday, March 19, 2018
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I was watching a report last week that said people check the authorization box on websites but don't really read the disclaimers associated with it. I am sure that is true, since I don't read it either. The times I did, I couldn't tell you if any of it made sense anyway. You are right, the only way to be private is not being a part of the grid. And yet, we are all somehow connected to grid but some are more entrenched. Heck, your blog is a part of the grid!
ReplyDeleteI am on Facebook and sometimes wish I wasn't. There's too much crap and fake news. I try to filter as much as possible, but it's not easy. Now, if a company like Facebook can be involved, what about Twitter?
-LBOAYM