Mark Zuckerberg Zuckerberg's forehead is thought to be a fold. The mission that he has taken to 'fix' Facebook has pushed it once more. What is Facebook about user data, the question has started to get started. Besides, the Facebook business model is now in question. European and US politicians seeking inquiry against Facebook
The complaint has been raised, Facebook has allowed the use of an organization named Cambridge Anilitika. Through that app, millions of Facebook users collect personal information and Cambridge Analytics That information was later used in the election campaign of US President Donald Trump. A professor associated with this work has come out openly in front of all the public. Now the United States, the UK and European Union (EU) politicians of different countries have questioned the whole issue.
Although technology is one of the most attractive organizations in the world, investors have already started shaking on Facebook. On Monday, the share price of Facebook shares fell. Facebook shares fell 6.7 percent in one day. In all, the market value of nearly four billion dollars is reduced due to the investors' forehead fell on the forehead. Facebook chief executive Mark Zuckerberg is asking politicians, how about five billion Facebook users' information went to the political consulting firm, he would have to explain. Some of the Facebook authorities still did not open their mouth. Cambridge analyzes completely denied the news of their unaffected information. They say that they removed all the information collected from Facebook in 2014 through third party applications. After understanding this, they have taken this step after not knowing the information is relevant to the protection rule. Investors are concerned about the whole issue. Regarding the use of Silicon Valley information, professor of law professor at the University of Maryland, Frank Pascal said that the black box cover of what was done with Facebook data has been opened. Naturally the ugly figure came in front.
Facebook's knowledge of the incident will create a confidence crisis on Facebook, even the business reputation will be lost. In 2016, the issue of Russian nose breaking in the US election using false news spreads and Facebook tools surrounding the US election has already come under severe criticism. Facebook investor Ron Betts thinks, 'We are in a bit of anxiety.'
Facebook yesterday announced that they had appointed Digital forensic institution Straff Fradberg to audit Cambridge analytics activities. During the audit, the forensic institution gave full access to the server and the system. Facebook investor New York City Scott Stinger said, "As an investor on Facebook, we are seriously reviewing the terrible news."
Sustainitolics research manager Matthew Brag said, "Whether Facebook changes or not, we are seeing that. Their business models have access to customer information. It is important to understand whether they care about these information. "Reuters reports, Wall Street analysts say there are systematic problems in the Facebook business model. Regulators now demand more control over the platform. The head of the European Parliament said, whether the information was misused or not, EU politicians would investigate this. If it is done, it will be an unacceptable violation of citizen privacy practices. Recent reports of the New York Times and London's Observer dropped more to Facebook. After the report, the US Congress has asked for strict control over Facebook. The report said on Saturday that Facebook gave information on Cambridge analytics Although it was claimed to be deleting the data, it did not.
According to Forbes, the biggest impact on Facebook's losses has been the impact of Zuckerberg's total wealth. His total assets decreased by $ 510 million. His 16 percent share of Facebook shares Total wealth is $ 6,950 million. She has dropped from the fifth place to the seventh position in the list of world's wealthiest people.
According to the New York Times, Paul Grayyal, the lawyer of the Facebook company, told the incident of unrequited "corruption and fraud". He said, "Whatever action taken will be taken and action will be taken against those who have broken the rules." Cambridge Analytics has been removed. At the time of studying at Harvard, Zuckerberg founded Facebook in 2004, at the age of 19. Later, he left the school to give time to study. There are now over 200 million active users on Facebook. According to market research firm Statistor Data, Facebook earns $ 4.7 billion in 2017. 60 percent of online advertising goes to the pocket of Google and Facebook authorities.