Facebook data scandal fails to dent revenue from advertising

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However, as more is revealed about the misuse of Facebook's services by Cambridge Analytica, it would seem as if a users personal data has been passed on if a friend on the social network has previously used the app. The GDPR prohibits the collection and/or use of any personal identifying data (including IP addresses) unless the user consents, and even then, the use is limited to the goal for which the data is collected in the first place. App developers no longer get access to that data.

In a report from The Wall Street Journal (via Engadget), it seems that Facebook users for the most part haven't changed their privacy settings in any meaningful ways.

Scheduling 10 hours to figure out Facebook and its privacy (or lack thereof) policies was probably optimistic, even if every congressman was a 30-year-old business and engineering double-sigma cum laude major Ivy League graduate. During his testimony, Zuckerberg repeatedly said Facebook has a tool for downloading your data that "allows people to see and take out all the information they've put into Facebook". Facebook could also require its vendors and partners to provide world-class cybersecurity protections for users and their information.

But I digressed ... mostly because I shuddered at the thought of what story the Brothers Grimm would have written featuring a stepmother-in-law.

Facebook's insatiable appetite for your personal information is understandable, because that's how it makes money - to the tune of $40 billion in advertising revenue annually.

"Mr. Zuckerberg, you've said you're sorry". If I go to the Toys R Us site or Babies R Us site looking for little tykes outdoor swing sets, I go back on fb. ads come up on my page and many other things I have searched. Facebook also allows small business owners to target a certain area or age group. It could elect to turn off location tracking of users by default, to stop collecting information on people's activity away from Facebook without express permission, and to give people even more information that shows how advertisers target them for each Facebook ad they see. One economist estimates the value could be as much as $1,000 a year for the average social media user.

Last year, Facebook generated about $19.5 billion in USA and Canada ad revenue from its average monthly active users of more than 235 million, working out to about $82 each.

On Saturday, however, Swiss Finance Minister Ueli Maurer told public broadcaster SRF that the latest European-led moves to ensure Facebook pays adequate taxes in the countries where it operates - a temporary three percent "sales tax" - should not be considered in Switzerland.

Zuckerberg was transparent on this point as well. "They just got caught", said Eric Cole, chief executive of Secure Anchor Consulting, a cybersecurity consulting firm in Ashburn, Virginia that serves enterprise companies. [Based mostly on demographic criteria]. Ben Luján (D-N.M.) asked Zuckerberg if Facebook had detailed profiles on even those who had never signed up for the social networking site.

Zuckerberg claimed that such behavior is consented to by users.

Earlier this week, Facebook founder Mark Zuckerberg was in Washington to testify at the Senate Intelligence Hearing. She said $100 is an expensive month for her on Facebook. Does that mean make a positive impact on the world or make a positive impact on Facebook's bottom line? This is positive awareness.

Last week we dipped our feet into the massive political and privacy scandal surrounding Facebook and Cambridge Analytica and we will continue in that vein today.

Similarly, a company's culture is defined by its relationship with its employees.

Equally often, it was also pointed out that we all have to be somewhat responsible for our own privacy. Your company has no core values if behavior is not aligned.