Mark Zuckerberg Lost $10 Billion in One Week After Facebook’s Privacy Scandal

From taking action on potential past abuse to putting stronger protections in place to prevent future abuse, Facebook has said it has chalked out a roadmap for its “future” after being rocked by a data breach scandal. Improper use of the data is explicitly against Facebook’s terms of service – but for Facebook, it’s immensely hard to constantly monitor all the millions of apps on its platform and how they are actually using its users’ data.

True friends spend time with one another because they love one another, not so that they can use each other. “At the time it didn’t seem like we needed to go further on that”, Zuckerberg said. We’re also working with regulators as they investigate what happened.

The most important issue arises what Facebook and Cambridge Analytica did is legal or not. As he said, we know that this was a major violation of peoples’ trust, and I deeply regret that we didn’t do enough to deal with it.

As you can see, Snow hasn’t been too kind to Zuckerberg in the past, particularly following Facebook’s involvement in the spread of fake news and false information during the run up to the 2016 U.S. presidential election.

Reps. Greg Walden of OR and Frank Pallone of New Jersey said in a brief statement that the “latest revelations regarding Facebook’s use and security of user data raise many serious consumer protection concerns”.

– Many have also questioned why Facebook settled with a simple written confirmation from Cambridge Analytica that it had deleted all the data without following it through with its own check.

Third, it will display a tool at the top of the News Feed with apps users have used and an easy way to revoke those apps’ permissions to your data. “While we are deleting this information, it is inaccessible to other people using Facebook”, the company says in its Help Center page. Your trust is at the core of our service. “We are the inventory, and they’re not going to let us just walk away”.

The firm’s chief executive, Alexander Nix, was approached by an undercover reporter posing as a fixer for a potential client.

The application, a 2014 quiz on Facebook invited which users to find out their personality type, was developed by a British academic, Aleksandr Kogan, the newspapers said.

Calming employees was particularly vital because morale had sunk at the company, Facebook employees have said, especially after months of scrutiny over how the social network was used by Russian agents to influence the 2016 presidential election. The hashtag #deletefacebook has been trending.

Facebook didn’t immediately respond to CNET’s request for comment. The company could have enabled different mechanisms to automatically limit third-party apps’ access to user data after a period of inactivity or suspicious activities, for example. And as we have seen in the past whenever there’s a panic or uncertainty scenario on social media, it gives rise to umpteen insane fake news. WhatsApp cofounder Brian Acton tweeted “it is time” to delete Facebook.

On the left you’ll see a list of privacy, apps, adds and more. Click on “Settings” then select “Privacy”.

Facebook is also an anti-friend because you can not count on the company to keep its word.

Facebook also employs a small army of outside lobbyists.

The takeaway: It’s smarter to register for access with the app itself, instead of using the Facebook sign-in.