Here come the lawsuits…
That’s the downside of apologizing, which is equivalent to admitting guilt.
Lawsuits were inevitable, whether Mr. Z apologized or not. It is simply damage control by facing the fire head-on and not cowering for days…
Well, if these people left Facebook, where else are they going to go? MySpace? What a bunch of idiots.
Crisis experts are also not billionaires.
So what? That’s why engineers and hard science people need to leave it to the experts to clean up the mess for them. Engineers only think in black and white and that is where they fail miserably in the business world. Leave the selling and marketing to the experts…
“Engineering is a massive field with over 25 specialties, a few of which are mechanical, civil, chemical, electrical and computer engineering. These specialties allow engineers to work in all industries, ultimately making their career options nearly unlimited. Engineering majors also take an assortment of courses, including, math, science, writing and technical courses. With such a diverse set of skills, it’s no wonder engineering is one of the degrees most likely to produce CEOs of fortune 500 companies.”
Ultimately, the difference in Google and Facebook’s approaches to the web — and in the case of the latter, to user data — suggest how the duopolists will ultimately be regulated. Google is already facing significant antitrust challenges in the E.U., which is exactly what you would expect from a company in a dominant position in a value chain able to dictate terms to its suppliers. Facebook, meanwhile, has always seemed more immune to antitrust enforcement: its users are its suppliers, so what is there to regulate?
That, though, is the answer: user data. It seems far more likely that Facebook will be directly regulated than Google; arguably this is already the case in Europe with the GDPR. What is worth noting, though, is that regulations like the GDPR entrench incumbents: protecting users from Facebook will, in all likelihood, lock in Facebook’s competitive position.
This episode is a perfect example: an unintended casualty of this weekend’s firestorm is the idea of data portability: I have argued that social networks like Facebook should make it trivial to export your network; it seems far more likely that most social networks will respond to this Cambridge Analytica scandal by locking down data even further. That may be good for privacy, but it’s not so good for competition. Everything is a trade-off.
Not knocking the intellect, just saying that sometimes folks who deal with black and white tend to not see gray. Use this FB example. How can anyone of you guys/gals say he didn’t F up? He did. Period.
Here Mr. Seattle. Why is it that normally, otherwise vastly more intelligent than me people can’t see right or wrong when they own the freaking company’s stock???
People are making it at least an order or magnitude bigger than it is. I guess accurate headlines and stories wouldn’t be sensational enough to generate page views.
All I am saying is that we let the experts handle things when needed. If you need to show sorrow, you damn well better show sorrow or the marketplace (your lovely investors) will eat you alive. Nobody is big enough or great enough that he/she can just do as he/she pleases, without consequences. Sure, hopefully this yet another Silicon Valley storm, blows over but we should learn from these mistakes. My gosh, who hasn’t learned from Uber’s many missteps right???
I miss Steve jobs everyday.
Yes, Mark Z should’ve told people to quit Facebook and go back to MySpace if they don’t want their data to be stolen.
Whats exactly in those data anyway? It’s what you told the app about you and your friends list. And the Cambridge guys used that data to sell campaign ads.
I am sorry. I don’t see what’s so bad about it. It’s not like they know your credit card number and steal money from your bank account. People volunteer much more personal data for nothing.
What TV shows people like and their favorite bands are highly private info. That’s why people put it on their facebook profile for everyone to see. Oh wait, they’d be able to see your favorite sports teams. That changes everything.
Why is there no love for friendster? One of my friends was one of the first 10 employees there. I think he was worth millions on paper then facebook happened.
That’s why it’s important to choose the right leader (or just be lucky and happened to work for the right leader). Same with investments. Doesn’t matter what the technology is or what the company is about. Just go for someone with vision.