Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

Bad Facebook Hair Day

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Facebook’s having a bad hair day.

Or maybe it’s a whole week.

Month? 

Year?!

Their stock plunged 5 percent today after the U.S. Federal Trade Commission confirmed it had opened a “non-public probe” into the company’s privacy practices.

According to a CNBC report:

“The FTC takes very seriously recent press reports raising substantial concerns about the privacy practices of Facebook. Today, the FTC is confirming that it has an open non-public investigation into these practices,” the agency said in a statement. 

If Facebook was found to have violated a consent decree it signed with the FTC in 2011, each violation could cost the company $40,000.

Late last week, The Guardian provided a good summary and the latest developments of Cambridge Analytica’s use of Facebook (read: our) data, including details revealing how politicians and regulators have responded around the world.

And Facebook faces a grassroots movement calling for people to delete their Facebook accounts, #DeleteFacebook.

How many will actually go through with it, only time will tell.

What the entire episode tells me, though, is that privacy isn’t dead — never is, never was, and people are finally starting to come to terms with just how valuable their personal information has been to others (Facebook), and how much it should be to themselves.

Written by turbotodd

March 26, 2018 at 10:45 am

Posted in 2018, facebook

Tagged with ,

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