Information Systems Integration – Tony Messina

Facebook Data Scandal

Image result for cambridge analytica facebook

Cambridge Analytica is a political consulting firm that gained access to data on over 50 million Facebook users. Although the news of this has just surfaced, Facebook has known about this since 2015. There was no hacking or illegal methods involved as Cambridge collected this data. Public trust in Facebook’s ability to keep data safe is obviously at an all time low, and the business side of things is feeling that effect. Facebook lost about $75 billion in market capitalization and shares have fallen 13.9% since the story broke. Elon Musk took action by deleting the Facebook pages of his Tesla and SpaceX companies. Now there are serious talks about government oversight and regulation, something Facebook has been able to escape throughout its lifespan. Even Mark Zuckerberg has been quoted in this article saying regulations may be the way to go.

Do you think government regulation in technology is necessary/needed? How would regulations change the business environment for tech companies whose core business lies with data collection?

Do you believe Facebook will overcome this? Does Facebook hold too much power over its users? Why would Facebook hold this information from the public for three years, including a presidential election?

 

Facebook’s Cambridge Analytica Debacle: Why This Data-Privacy Storm Is Different, And What’s Next

 

 

One Response to Facebook Data Scandal

  • Hello, John! Excellent post! I agree; how blasphemous !

    Pretty crazy that Facebook held this information from the public for so long. I think they will come back from this, but it might take a while. Although it is surprising it took so long for it to come out, I don’t think it’s surprising that Facebook was doing this. The amount of data they have is almost unfathomable. I don’t think government regulation would help this issue; I think we need to move toward decentralized hosts possibly via blockchain.

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