Facebook is reportedly under FTC investigation
Facebook has confronted a major issue where personal information was given to a vendor. Is that a good or bad thing ? First, this had nothing to do with the 2016 election but our private information was given to a 3rd party vendor. Now that is the problem here. Most Facebook users know that whatever is posted on their web sites is Facebook property so you give up on the photos, information, etc. over to the Facebook folks to use whenever they want.
The Federal Trade Commission is investigating whether Facebook violated a government privacy agreement by allowing Cambridge Analytica to obtain users’ personal data, according to a report from Bloomberg.
Facebook agreed to the settlement, known as a consent decree, in 2011, after allegedly deceiving users over how much personal information they were sharing. The FTC argued that Facebook had misled users by not explaining, among other problems, how much data third-party apps received. As part of the settlement, Facebook agreed to rules governing its users’ privacy, including receiving express consent before using data beyond privacy settings.
After news broke Cambridge Analytica obtained information on 50 million Facebook users through a seemingly innocuous app, starting in 2014, some former FTC officials behind the 2011 order speculated yesterday in The Washington Post about whether Facebook had violated the decree. If the FTC ultimately decides Facebook did violate the agreement, the company could be open to millions in fines, according to the Post — not to mention even more public outrage for violating the landmark privacy deal.
From our point of view the chair person needs to step down. This is not the first time something has happened in Facebook land and this is not the last time. Mr. Z has to determine what is best for Facebook because the stock price is dropping.
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