When William Shakespeare wrote Much Ado About Nothing , he certainly didn’t have Friday’s published reports about a rumored settlement between Facebook and the U.S. government over privacy concerns in mind, but the title fits. The Wall Street Journal reported that only Federal Trade Commission approval stands between a deal between the social network and the government, in which Facebook agreed to obtain the consent of its users before making “material retroactive changes” to its privacy policies, or sharing data in different ways than users originally agreed to. A source told the Journal Facebook does not need user approval for all changes on the site: It simply cannot take information that is already available and make it more available without users’ consent.
Jesse Thomas is CEO and founder of creative agency JESS3 . Follow him @jess3 and invest in (e)JESS3 here . When I asked Duleepa Wijayawardhana (a.k.a. “ Dups ”), co-founder and CEO of the self-described "social media exchange” Empire Avenue (EA), if he wanted to be the next Gordon Gekko, he replied, “We want to be bigger than Gordon Gekko.” He might just get there thanks to the growing trend of ranking a person’s social media capital as well as thousands of new "investors."