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Social networking site Facebook is definitely in hot water right now when the Cambridge Analytica scandal has done immense damage, according to reports. Some say that regulation has suddenly become more likely and Facebook CEO Mark Zuckerberg appears to be AWOL.
The scandal highlights the biggest problem of Facebook's business model which involves data exploitation as they make money by harvesting user data and selling it to app developers and advertisers.
Alexander Kogan, a University of Cambridge professor, accessed the data of over 50 million Facebook users by generating a survey filled out by 270,000 people. Then, he provided Facebook the data of anyone who took the survey. In a statement, Facebook said, "Kogan gained access to this information in a legitimate way and through the proper channels that governed all developers on Facebook at that time."
Kogan violated, according to Facebook, the rule of passing the user data to third parties, including Cambridge Analytica, the political data firm founded by former Trump aide Steve Bannon and Republican donor Robert Mercer.
As of right now, the number of active Facebook users in the United States dropped for the first time last quarter and lost 2.8 million users under the age of 25 last year and according to sources, they may lose another two million following the scandal. The social networking site has been the high-profile target to manipulation by political groups, foreign governments, or any possible worst case scenarios.
URL: cnn.it/2GNtoEQ
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