[On :freetrade:] Facebook - FB 📱

In my opinion Facebook is going to be fine in the long-term, but there are inevitably going to be bumps across the road. They created a completely new industry and now they have to face all the regulations coming with that. Some people don’t understand how huge Facebook is and think they can dissapear like myspace. That is the only company that I can think of that have such a big control over one industry.

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$FB at it again. They are also launching a dating service in the US.

18 million records of users in the U.K.

Facebook’s response :no_mouth: “This data set is old” :partying_face: Nothing to see here:

“This data set is old and appears to have information obtained before we made changes last year to remove people’s ability to find others using their phone numbers,” the spokesperson said. “The data set has been taken down and we have seen no evidence that Facebook accounts were compromised.”

UK and EU are on it:

Following the discovery, the UK’s Information Commissioner’s Office (ICO), said it was looking into the incident.

A spokesman said: "We are in contact with the Irish Data Protection Commission (IDPC), as they are the lead supervisory authority for Facebook Ireland Limited.

(Telegraph)

“The DPC became aware of this issue through the recent media coverage and we immediately made contact with Facebook and we have asked them a series of questions. We are awaiting Facebook’s responses to those questions,” a spokeswoman for the Irish Data Protection Commission told us.

(TechCrunch)

Libra is not going to take off:

Sometimes they would write a script and something similar would happen in real life before a new episode comes out. If you want to understand $FB, $GOOG, $AMZN, etc watch this show from the beginning. The creators do extensive research.

Final Season 6 out this autumn:

Facebook to spend $1bn on brain-control start-up CTRL-labs

New York-based company uses neurotechnology to help connect human thoughts with computers

“The vision for this work is a wristband that lets people control their devices as a natural extension of movement,” he said. “This is how our interactions in VR and AR can one day look. It can change the way we connect.”

Source - FT

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Their developer APIs are so bad, please don’t use any Facebook SDKs @Ian @adam @Viktor and team.

Also,

“Today we’re introducing a new company logo to be clearer about the apps and technologies that come from Facebook,” Mark Zuckerberg wrote in a blog post. “Here’s what it’ll look like when you start seeing it across our products.”

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They changed it to large front FACEBOOK because it’s what you see on a headstone when people are dead. They’re dying as a platform but seem to be trying to pivot.

And yes I know a corporation is literally a dead person by law

California Attorney General Xavier Becerra announced Wednesday that he is seeking a court order to force Facebook to provide information about user privacy that he says the tech company has refused to provide as part of his office’s year-long investigation into Facebook.

“Those are serious allegations when you consider the personal information we all supply to Facebook every single day,” Becerra said at a press conference in San Francisco Wednesday. “Facebook knows some of the most intimate details of our lives from our new job, marriage, death of a loved one or birth of a child."

The state began investigating Facebook in June 2018, looking into, among other things, allegations that Facebook violated California law in its handling of its relationship with Cambridge Analytica, the third party provider that accessed millions of Facebook users’ personal data without their consent.

Becerra’s office filed a petition in San Francisco Superior Court on Wednesday asking the court to enforce the subpoena it issued Facebook earlier this year. The information Facebook did not provide, Becerra said, included email communications between CEO Mark Zuckerberg and COO Sheryl Sandberg. Becerra declined to discuss specifics about the investigation other than it is looking into Facebook’s privacy practices, disclosures and third party access to user data.

Facebook considered charging companies to access user data.

@Ian - Facebook APIs / SDKs please use them never :pray:

This is interesting and stock price has risen

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End to end encryption for Insta and FBM is good, you can imagine that it will make it easier to keep users inside the FB universe, but (ex-WhatsApp) employees don’t sound wild about the backends being integrated.

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And if you were cyncial, you might think it a pre-emptive move to make any future anti-trust breakup impossible to implement.

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I smell a break up. :sweat_smile:

Looking at the press release, half of that expense increase is from General and Administrative costs, which has tripled from $3B to $10B in the space of a year.

Any idea what this would be? Are they hiring loads more staff to cope with policing content around the upcoming election?

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My wife deleted her account after reading the book of the Cambridge Analytics whistelblower. Go figure.

The title is Mindf*ck: Cambridge Analytica and the Plot to Break America by Wylie, Christopher.