“Facebook Breaks Its Silence, Admits to ‘Mistakes,'” The Wall Street Journal, March 22, 2018 A1. Facebook takes fire for use of Facebook’s data on 50 million users by outside app developers and others. One analyst points to “systemic mismanagement.” Stock value has dropped 10% ($50 billion).
Well, that’s your data, isn’t it? Data about who your friends and interests are, and other data generated by your use of Facebook. What are your networks worth? Who says privacy is dead?
The common crisis management three-step. Crisis, government outrage/testimony and heartfelt (albeit delayed) apologies, and more regulation/lawsuits.
Lots of questions about who owns what data and who has what responsibilities with respect to that data. Are your personal networks information? What’s the information worth? When FB holds the information, is it no longer yours? Did you accept this risk? Was this really just a problem with FB’s vendors not controlling things? The list goes on.