What data scandal? Facebook is growing again...

in #technology7 years ago

Despite the data scandal, Facebook is doing well. After a number of very turbulent weeks, the company brings out the figures for the first quarter on Wednesday evening. They are better than expected.

Turnover increased by 50 percent compared to the first quarter of 2017. In the first three months of 2018 sales were almost 12 billion, in 2017 it was 8 billion dollars.

The past few weeks were dominated by concerns about privacy after the data scandal surrounding Cambridge Analytica. That company played a bad part in President Donald Trump's election campaign. The fact that the private data of 87 million people were shared with Cambridge Analytica caused a lot of unrest about Facebook.

#DeleteFacebook went viral

Despite #DeleteFacebook, the call that went on social media to remove profiles, the platform got 49 million users. This ensures that 1.45 billion people are on Facebook every day. Zuckerberg himself said that 'no significant number' had left the platform.

In North America, Facebook has received one million additional users. That is striking, because at the end of 2017 it appeared that the region was saturated; for the first time the number of users dropped.

Late in the quarter

At first glance so no panic: even though there was a lot of commotion surrounding Facebook's data scandal, there were hearings in the senate and people were angry about the use of data by Cambridge Analytica, financially it does not affect Facebook at the moment.

Those last three words are important. The scandal with Cambridge Analytica did not arrive until the end of March, in the last two weeks of the first quarter.

If that would have consequences after the end of March - such as a reduced number of users or expiring advertisers - those consequences would only become visible when the results for the second quarter became known, at the end of July. The same applies to any costs that Facebook makes for measures relating to the privacy of users.

Bringing in the big bucks

'Privacy no enemy of advertisements'

"We have always paid attention to privacy, we have never sold your information to anyone," said a Facebook spokesperson in a webcast. "You can always see why you see an advertisement." Advertising and protecting privacy are no match for each other. . "

"We are proud of our advertising model. But we also know that people have more control over how their data is used, "says the spokesperson. "In the coming month GDPR ( AVG, the European Privacy Act, ed. ) Gives us an opportunity to make people better understand how we do that."

Moving for privacy law

It is striking that Facebook announced last week that the data of 1.5 billion non-European users will be moved from Ireland to America. The company ensures that these users are not covered by European privacy legislation.

Facebook itself states that it does not matter and that they offer privacy to all users. But in practice it ensures that the users who have been traversed can not also start a privacy case on the basis of the AVG. The legislation ensures that companies that violate the law can get fines of up to 4 percent of their worldwide turnover.

=More profit

The figures also show that in the first quarter Facebook can count a net profit of almost 5 billion dollars. In the first quarter of 2017, this amounted to just over 3 billion dollars.


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Does it still grow in the freer world?
I feel that it is peaking in it even if it still does.
In more oppressed parts of the world, FB is a taste of freedom.

FB was taste of freedom, however freedom always comes with cost and Cambridge Analytica was one of them.

It was never a taste of freedom for me.
I wrote that there are people in some places that for them it is a taste of freedom.
I meant certain countries.
I also wanted to use prison as an example, but then I thought that most prisoners are smart enough to avoid it even if they get internet access because they know how free it is.

I agree with your statement that freedom comes at a cost, but since that FB was never an adherent of freedom, and since that even if it was, which it was not, I do not comprehend why Cambridge Analytica was any necessary cost of price.

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I guess only the people who really believed in #DeleteFacebook deleted their Facebook. They had a good reason to delete it (or were just looking for another one).

As to advertisements - yes, there really is a page on Facebook in which you can see what is being advertised to you (topics and such), I lately found out about it myself.

Facebook is like a giant carnivore on the internet planet. we need to be vary- always

thnks and keep up the good fight

This is amazing. I don't even know what to think anymore..

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