For example, banks charge you interest for as long as you have their money out,” said Zuckerberg.įacebook CEO Mark Zuckerberg likened the social media firm to an “information bank”, suggesting the information that Facebook collected on its users had a clear financial value “Even though the idea of an information bank is not identical to financial bank, the comparison suggests some interesting things. In other words, the information that Facebook collected on its users had a clear financial value. Facebook becomes an ‘information bank’īy October 2012, Zuckerberg was likening Facebook to an “information bank”. “If any developer doesn’t want to work with us on this, but still wants to be able to pull friends and other data from us, we should be clear that this reciprocity is important to us,” Zuckerberg wrote just days after the IPO in May 2012. These included proposals to charge for basic and premium application programming interface (API) access and to insist that developers traded their own users’ data back to Facebook – referred to internally as reciprocity. Zuckerberg developed the plans to charge developers for access to data in response to Facebook’s disastrous IPO. The documents show that Zuckerberg, chief operating officer (COO) Sheryl Sandberg and other senior Facebook executives planned over several years how to control competitors and consolidate the social network’s power.Īt the same time, the social network used privacy to explain away changes to the Facebook platform that would cut off access to data for some software developers, while offering preferential deals to others. Facebook staff raised concerns about the social media company’s proposed changes to strategy, describing it as “unethical”.Facebook’s PR team spun the plans to restrict third-party apps’ access to data as a move to protect privacy, but internal documents reveal it was more to do with growing Facebook’s revenues.The social network began cutting off competitors’ access to Facebook data, including apps such as MessageMe, after initially promising developers a “level playing field”.Facebook proposed special deals to share its data with friends of Mark Zuckerberg and Sheryl Sandberg, including Netflix, Dropbox, Spotify and Foursquare. After a disastrous initial public offering (IPO), Facebook’s executives proposed a new plan to make money, which it dubbed “Data for $”. Facebook employees complained that customers’ data and their own data was visible to others, after they had opted to keep it private.Facebook has consistently said it does not sell its customers’ data, but Zuckerberg and other Facebook executives spent years discussing how to monetise it.The leaked documents, which have been seen by Computer Weekly, NBC in the US and Germany’s Süddeutsche Zeitung, reveal: About 7,000 pages of confidential documents show that Zuckerberg and his top executives considered a wide range of options to charge app developers for access to Facebook’s user data in an attempt to boost revenues after issuing shares to the public.įacebook has consistently given assurances that it will never sell its customers’ data, but internal emails, message logs and PowerPoint presentations show that the company equated its user data to dollars.
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