There are again allegations against Facebook, which could set the debate on data security on fire again: Many other technology companies should have access to user data.
Facebook , on its way to becoming the dominant social network – even before Facebook apps were available – apparently concluded special agreements with up to 60 device manufacturers, a report by the New York Times revealed. The partnerships now raise concerns about the security of customer data.
Cooperation in order to increase reach?
Since 2007, the re-exposed social network is said to have allowed access to Facebook data by handset manufacturers. The agreements with technology companies such as Samsung , Apple , BlackBerry , Microsoftand Co. should – according to the “New York Times” – Facebook users have made it possible to use popular features such as news and the “Like” button on their devices, even before an app for the social network could be installed.
Continue reading “Facebook scandal: customer data apparently also passed on to Apple, Microsoft & Co.”
Facebook founder Mark Zuckerberg is pleased about good numbers.
The share of the social network has reached a record high after good quarterly figures. The profit rose by 71 percent.
The bubbling advertising business has once again let the cash register on Facebook. Second-quarter earnings soared 71 percent to $ 3.89 billion. Sales were also up sharply. The social network grew 45 percent over the previous year to $ 9.32 billion. After presenting the numbers, the stock jumped to a record high of around $ 173 on Wednesday in after-hours trading.
Continue reading “Facebook stock shoots at record high”
The data scandal around Cambridge Analytica currently has Facebook firmly under control. These days, CEO Zuckerberg is summoned to the US Congress and is confronted with unpleasant questions. Zuckerberg’s defense that “Facebook is an idealistic and optimistic company” and has never seriously argued that the platform could be misused for malicious purposes is quite naïve anyway.
However, there are signs that Facebook users are largely ignoring the news. A survey by Deutsche Bank Markets Research earlier this month revealed that only one percent of respondents (n = 500) disable or even delete their accounts. Investors now have another meaningful number that supports this assumption.
Interaction still strong
Jefferies has now shared the findings of a study stating that the scandal does not affect the central Facebook platform. Analyst Brent Hill notes that the time spent from March 2017 to March 2018 has actually risen by 15%. The analyst also says Facebook’s profitability would first of all suffer because all the measures to improve security cost money. Ultimately, they would be worthwhile.
“In light of the recent difficulties, we believe FB is likely to employ a significant amount of staff and consultants to focus on privacy and security. This will affect margins in the near future, “Hill wrote. “We do not consider this as negative, however, as investments focus on areas where consumer confidence is built, which will be beneficial over the long term.”
Continue reading “Facebook: No one is interested in the data scandal”