Is Facebook Data Breach A Mortal Threat to Facebook, or Do Most People Just Not Care?

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Kevin Delaney, Quartz, and Mike Isaac, New York Times, discuss the data collection practices on platforms like Facebook and how these companies should handle data breach and privacy situations.

Facebook left a 2010 data harvesting tool in place to harvest private information of users for 3 years after they were admonished by the FTC. The tool harvested information of users’ friend without the consent of the users. The FTC scrutinized the marketing tactic, and consequently had Facebook sign a consent decree where they promised to harvest user data only with informed consent, and to protect their users. Facebook left the harvesting tool in place until 2014. Tens of thousands of companies and an unknown number of apps were still harvesting user data.

Roger McNamee, Elevation Partners co-founder and early Facebook advisor, gives his views on just how much the data scandal will hurt Facebook and why the tech giant needs to take this breach of trust more seriously.

Harvey Pitt, Kalorama Partners and former SEC commissioner, and Sara Fagen, DDC Public Affairs, discuss the likelihood of governmental regulation on Facebook and other tech giants following the data misuse scandal.

What Happened?

Academic Aleksandr Kogan creates personality test app called thisisyourdigitallife

Kogan & Cambridge Analytica pay users, collects data on users’ friends

App also collects data on users’ Facebook friends.

Cambridge Analytica works for Trump campaign

2018 (March)
Cambridge Analytica found discloses they never deleted user data as they were required

Facebook suspends Cambridge Analytica’s account; Campbridge Analytica suspends CEO Alexander Nix; FB stock falls more than 10%, drops $50 billion

An undercover investigation by Channel 4 News reveals how Cambridge Analytica secretly campaigns in elections across the world. Bosses,including Alexander Nix, were filmed talking about using bribes, ex-spies, fake IDs and sex workers.

The British data firm described as “pivotal” in Donald Trump’s presidential victory was behind a ‘data grab’ of more than 50 million Facebook profiles, a whistleblower has revealed to Channel 4 News.

Facebook CEO Mark Zuckerberg speaks to CNNMoney’s Laurie Segall after the news broke this weekend that Cambridge Analytica accessed information from 50 million Facebook users without their knowledge.

Jim Cramer and the “Squawk on the Street” crew weigh in on Mark Zuckerberg’s apology in an exclusive CNN interview.

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From mad men to math men. Cambridge Analytica first gained notoriety for their role in Donald Trump’s presidential campaign. In the Online Marketing Rockstars Keynote | OMR17 (Germany, March 2017), Cambridge Analytica CEO Alexander Nix discusses big data, the methodologies and strategies used to identify people’s behavior and how data analytics factors into political campaigns.

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