Monday, 20 August, 2018

Facebook shares rise as tech giant details data collection of non-users

600Facebook Editorial: Facebook faces regulation. But what kind?
Glenn Montgomery | 19 April, 2018, 06:01

A lawyer for victims of terrorist attacks in Israel on Monday urged a federal appeals court to revive their lawsuit against Facebook Inc, saying Mark Zuckerberg's congressional testimony undermined the social media company's argument that it bore no responsibility for content on its platforms.

They posted their biggest daily gain in nearly two years on Tuesday as Zuckerberg managed to deter any specific discussion about new regulations that might hamper Facebook's ability to sell ads tailored to users' profiles.

The Facebook Audience Network links non-Facebook sites and apps to Facebook advertisers, and honestly, The Social Network™ only needs all that data it gathers for technical reasons like making sure the ads display correctly (fingerprints again), to encourage victims visitors to sign up to Facebook, and to hammer people with ads for similar products to the advertiser they viewed/clicked on.

Facebook had also launched a "Data Abuse Bounty" programme to reward people who report any misuse of data by app developers. The company insists there are only "three main ways" in which Facebook uses the information it gets from other websites and apps: "providing our services to these sites or apps; improving safety and security on Facebook; and enhancing our own products and services".

In the advert, Zuckerberg said a quiz developed by a university researcher had "leaked Facebook data of millions of people in 2014".

In return for that information, Facebook helps those websites serve up relevant ads or receive analytics that help them understand how people use their services. If you give me those things, I'll give you what you want.

Another person who spoke on the matter was blockchain technology consultant Jill Carlson, who attended meetings where Cambridge Analytica pitched its services to digital currency startups. Amazon, Google and Twitter all have login features.

Baser also admits that Facebook collects other crucial details also such as your system's IP address, the software that your computer uses, the type of browser you use to access the internet, and more.

It has also said it never entered into a contract with Cambridge Analytica, nor has it ever had access to Facebook data allegedly obtained improperly by Cambridge Analytica.

Facebook Analytics and Facebook Audience Network are the other key items in today's mea non culpa. Zuckerberg told him that Facebook already has a "download your information" tool that "allows people to see and to take out all of the information that Facebook - that they've put into Facebook or that Facebook knows about them".

Trillium Asset Management, which owns about 73,000 shares of Facebook Inc, said existing risk oversight structures at Facebook appeared to lack a "dedicated focus". The executive wrote: "These companies-and many others-also offer advertising services". We wouldn't want someone who does not understand how to drive a vehicle to make traffic regulations, so why would we allow people who don't understand social media to regulate social media?

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