Some people are downloading their data to see exactly what information Facebook has collected about them. We are sticking with our wide-moat rating and $198 fair value estimate for Facebook.
"If we find someone that improperly used data, we're going to ban them from our platform and tell everyone affected", he said. He also said that the firm will be increasing resources to investigate apps and take appropriate actions.
The number who had messages taken is a small proportion of the total 87 million people whose data was harvested in some fashion. The firm also plans to assign around 20,000 people to work on security and content.
That's according to Facebook vice president of global marketing solutions Carolyn Everson who said at The Wall Street Journal's CEO Council event this week that the social networking giant is "not anticipating major changes to our overall revenue and business model". That's also what makes Facebook so very bad: It knows everything about you.
Still, Zuckerberg conceded in a press briefing prior to his recent testimonies in Washington, D.C that despite not noticing a significant drop in Facebook users, the recent scandals are "not good". "This should be the real concern for Facebook, as unengaged users will prove less valuable to brands who are paying for Facebook's services", she wrote.
"They would advertise for housing but would say, 'Well, we don't want to advertise to, say, racial or religious minorities, for example".
Of course, anybody else who owns Facebook shares have benefited as well.
Sensing the Facebook scandal has shifted the transatlantic winds, the European Union is asserting itself as a forward-looking regulator rather than a retrograde bulwark against Silicon Valley's innovative might. On a question, if Facebook has a political bias, he said the platform's goal was not to engage in political speech. The CEO added that Facebook could only record audio as part of a video that's being filmed and uploaded by users.
The E.U.'s General Data Protection Regulation will impose much stronger privacy obligations and much more proactive privacy obligations on companies, Laidlaw said.
Starting last night and continuing on through today, the pair has sent out screenshots of a Facebook post they made in which they call on others to share their stories about social media censorship, claiming that Facebook's algorithms have caused only a handful of people to see the post. "So my position is not that there should be no regulation but I also think that you have to be careful about regulation you put in place". Just give us five to swot up on our data policies and we're ready.