Facebook faces up
Multi blogger and author Jon Morrow at Facebook Headquarters
In the news today! The US Federal Trade Commission (FTC) has O Kayed an approximate $5 billion settlement with the American tech giant Facebook. —This is a record-breaking payout for a tech company.
The reported settlement comes following an investigation of privacy issues by by the American business regulator into the company's many privacy issues, This caps two years of noteworthy scandals.
This action began in early 2018 when it was reported by Cambridge Analytica that Facebook had accessed the records of 87 million users and exposed sensitive privacy data. The lawyers have been assessing the situation constantly.
We need to pay attention when this type of event occurs. Facebook impacts Wealthy Affiliate as a model for messaging. Many ideas in our communications system have been lifted from Mark Zuckerberg's expertise Add in the clout of affiliate workings and there is a good ripple effect from FB to WA
The news isn't all bad, Facebook has had well over a year to adjust for this move and market shares are up based on anticipatory moves. The best news is that, like WA which has won in a recent lawsuit reported by a US regulator, this situation shows how prepared companies can come off victorious in their business practices!
Recent Comments
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Good news, yet we have to see how they become more inviting to MMO type of businesses, not less.
Hi Mike,
Many thanks for the info.
We'll wait to see what this will translate into in the coming days, particularly with data security.
Segun
Hooray for the FTC! Zuckerberg and expertise? Now that is the ultimate oxymoron. I can think of much better adjectives to describe him and his stolen idea of a company. None of them good. Good riddance if they had shut them down.
... ongoing saga continues ... the bigger they are, the harder they'll fall ... the fact that FB has over some 200+ 'agreements with other companies on data-sharing ... wonder what the status is of that? ... the fine is likely a 'drop in the bucket' ...
so is facebook going to pay us all back for the violation? how will this affect us going forward?
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Good Morning Mike,
All those big companies should clean up their act.
Do not miss my "hot" encounter with FB Pros and Cons, My first month at Facebook Have a great weekend, Taetske