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etvfutures.com April 26, 2018


Facebook notifies those affected by data breach

13 April 2018, 06:26 | Lucia Cruz

Didn't Get The Notification? Here's Another Way To Check Whether Your Facebook Data Was Shared With Cambridge Analytica

William Penn once said “Avoid popularity it has many snares and no real benefit.” Penn was a Quaker and the colonial era founder of the city of Philadelphia

He kept his cool as he answered five hours of questions from 44 USA senators, who were trying to decide whether Congress should intervene with regulations on Facebook.

Facebook CEO Mark Zuckerberg has told U.S. lawmakers that his personal data was also harvested and sold by Cambridge Analytica and he intends to initiate legal action against the British firm accused of stealing personal information and using it for political purposes. "But this is an area where I think society's sensibilities are also shifting quickly".

Still, he said, lawmakers need to be careful, noting that new rules or laws could hurt smaller businesses more than a behemoth like Facebook.

"Every time there is a control right there", Zuckerberg said.

Zuckerberg was answering a question from Rep Anna Eshoo, a Democrat from California, when he informed lawmakers about his personal data, a reference to the Cambridge Analytica scandal that has rocked his company over the past several weeks.

Mr Zuckerberg reportedly hired a team of experts to teach him how to behave in a personable manner throughout the first testimony.

Lawmakers were at times aggressive Tuesday as they accused Zuckerberg of failing to protect the personal information of millions of Americans from Russians intent on upsetting the USA election. His stake in the company is now worth around $66 billion.

Facebook has been in the spotlight since news broke last month that the personal information of 87 million users had been illegally harvested by consultancy firm Cambridge Analytica in an attempt to influence political outcomes.

Zuckerberg confusedly responded: "Congresswoman, I'm not sure what that means".

When asked whether Facebook can exist without collecting and selling user data, the tech-genius replied: It would not be possible for our services to exist, without having the option for users to put in the content and then sharing. They claim reduced engagement on their Facebook page is the result of the company's bias against their conservative beliefs.

Zuckerberg said that Facebook allows people to decide whether and how they want their information shared. "That's not how advertising works, and I do think we could probably be doing a clearer job explaining that, given the misperceptions that are out there", he said in response to a question. We build enterprise software, although I don't consider us an enterprise software company. "How is today's apology different?"

Trump, aides ponder Syria response; Mattis cites risks
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He added that Facebook is cooperating with the special counsel investigation into Russian interference in the 2016 election.

Facebook tracks "certain information for ads and security". Quite a few of these seemed like the sort of things he ought to have known.

Examples of third-party apps that Facebook has banned, aside from Cambridge Analytica's, for transferring user data without consent. He assured senators the company would handle the situation differently today.

All three are open to the idea of regulation if it restores trust, but not if it stifles innovation.

The stock was already rallying earlier Tuesday as investors digested the previously released prepared remarks from Zuckerberg.

Republicans have yet to get behind any legislation, but that could change. You never know who might be watching or what bad intentions they might have.

And it's now a big enough thing that people now have to take this seriously.

"Facemash was a prank website that I launched in college - in my dorm room - before I started Facebook", he said.

When asked that the term "shadow profiles" is used to refer profiles of non-Facebook users, Zuckerberg said he is not familiar with that.

"But, in order to prevent people from scraping public information..."



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