Facebook data scandal fails to dent revenue from advertising

HeraldScotland

Facebook data scandal fails to dent revenue from advertising

Mark Zuckerberg is an important man. He was confident. He capably tackled numerous queries proposed last week by Bloomberg columnists.

According to Facebook, one of my Facebook friends took the "quiz" in 2015, so count me among the more than 80 million whose information went to CA.

Facebook co-founder, Chairman and CEO Mark Zuckerberg arrives to testify before a combined Senate Judiciary and Commerce committee hearing in the Hart Senate Office Building on Capitol Hill April 10, 2018 in Washington, DC.

Mr Zuckerberg did not respond. But it's a loss for the rest of us. Fox Business reported that the CEO wants to reassure its users that Facebook is an "idealistic and optimistic company". Two days of testimony didn't change his mind.

Representative David McKinley, Republican of West Virginia, accused Zuckerberg and Facebook for "hurting people" by failing to combat users who try to sell opioids on the site. Graham cut that line of answering short by pressing his line of questioning to urge Zuckerberg to list a single competitor when it comes to its main service. Facebook brags to advertisers that it can provide "cross device" targeting, as it is called. The Campaign for a Commercial-Free Childhood is pushing to end the app. "I think it is time to ask whether Facebook may have moved too fast and broken too many things". He also noted Zuckerberg's total security costs are presumably much higher for business-related events that occur during business hours, which don't have to be disclosed in the compensation table. It collects your location whenever you open the app, using your phone's Global Positioning System capability. Although it's no longer the peak social hub that it used to be, people use the site to tag their friends in memes or amusing posts, and to share photos.

That's why it might not matter if Facebook can only get 4 percent, or 1 percent, or 0.1 percent of users to pay.

Some will stop using Facebook out of privacy concerns, and others will dramatically change how they use it and what they share. Zuckerberg said everyone who uses Facebook consents to what they agree to share, and has complete control of it. More than a million people in each of the UK, Philippines and Indonesia, as well as 310,000 Australian Facebook users, may have also had their personal information harvested.

Technically, Facebook's users can turn off targeted advertisements or disable sensitive features such as image recognition in photos. But he added: "While Facebook has certainly grown, I worry it has not matured".

"It's quite possible that we made a mistake and we'll follow up afterwards", Zuckerberg said. Facebook is embroiled in controversy over how the company handles the sensitive information it collects from its 2 billion users.

In most cases, the Swiss authorities (mainly the Federal Office of Police, but also individual cantons) requested information such as email or IP addresses to aid investigations into suspected terrorism. And while your friends are concerned about who got to use their profile data without permission, you gloat that your personal information is safe and remains out of the clutches of Facebook. And regardless, there is no way Zuckerberg can agree to this. Being confronted with a price tag could make them more cognizant of the value exchange they're voluntarily entering.

Rodgers said social media companies have a responsibility to protect personal data, and that users should be able to opt out of certain kinds of tracking, data collection and third-party sales.

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