Cambridge Analytica-linked Kogan collected Facebook users' private messages

Clay Curtis
April 15, 2018

That problem stems from the company's unprecedented and largely unchallenged market reach.

More recently, in the latest instalment in a long-running privacy case, a Belgian court ordered Facebook to stop profiling non-members in the country or face a daily fine. Facebook is powerful not because it has great products, but because of network effects; people need to use the tools that everyone else uses.

After five hours of testimony before two Senate committees, Mark Zuckerberg returns to the Capitol for a second day of grilling - this time, before the House.

Zuckerberg couldn't name a single competitor.

It's no coincidence that Parakilas has been speaking out about the issue since the matter of user data on Facebook came to light.

The founder and CEO of #Facebook, the most widely used social media network, was called on by #American lawmakers for supporting the regulations of the tech industry [VIDEO]. Facebook operates by providing users with a false sense of security, of being in a private and intimate space, so they puts lots of sensitive information online - which Facebook's advertisers can then use to target them. Also, maybe you don't want to wait around for Facebook to get to your account's notification.

United Kingdom markets watchdog urges European Union regulators to coordinate on Brexit
Eurostat officials declined to comment on the trend and it was unclear how many Britons acquired new passports after the vote. Starting coordination now would mean a framework is ready once transition has been legally ratified, Bailey said.

Zuckerberg may deflect the attention of Congress, but there's no ducking the judgment of other tech executives who also rely on data to build their businesses. Since the Cambridge Analytica revelations, many are taking a closer look at Facebook's business model.

New Mexico representative Ben Lujan asked for Zuckerberg to elaborate on the practice, questioning how many data points Facebook collects on those that haven't even joined the platform. The congressional record is open for another two weeks for lawmakers to submit questions, a Facebook source said, after which Facebook will have several more days to respond.

In total, Facebook's stock has gained 4.5 percent since the start of the hearings, CNN Money reports.

Now that you know the status of your data, what you decide to do with your account is up to you.

KitGuru Says: Even if there are no immediate repercussions, with the whole world keeping its eye on the platform, Zuckerberg and his team have their work cut out. While this week the Silicon Valley giant's stock has experience a modest recovery as its CEO appears calm and collected in front of US lawmakers, the high-flying FAANG stock saw roughly $100 billion shaved off its market capitalization in the weeks following its latest data crisis.

NPR previously reported that the Federal Trade Commission is investigating whether Facebook breached a 2011 consent decree by allowing third-party apps access to consumer data without consumer permission.

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