What the Facebook FTC Settlement Means for Social Media. On Tuesday the Federal Trade Commission officially rapped Facebook’s knuckles in a broad-reaching settlement on privacy, alleging the social network misled its users on what they were sharing and with whom.
This article is very benign compared with Dan Lyons, writing for TDB – pattychanman
"The effects of the settlement will likely have more to do with other social networks than the original one. The message from the FTC to social media is now clear: if you put the desires of advertisers before the privacy of users, you will be stopped. Just because you’re sitting on a ton of personal information that would make marketers drool, it doesn’t mean you can monetize it in any way you like." – pattychanman
The settlement, which lays out a number of specific rules the service must now abide by, requires Facebook to be much more transparent about its privacy practices going forward.
The thing is, Facebook was already doing that. Sure, the requirement that the company must now submit itself to biannual review from a third-party oversight board for the next 20 years sounds heavy, but it’s really not. As Mark Zuckerberg said in his response to the settlement, Facebook’s made a lot of mistakes with regard to user privacy, but it’s certainly learned from them, and its privacy controls now are stronger than ever. It’d be hard to see that third-party board finding much at fault with the Facebook of today, and, with Tuesday’s ruling, that’ll probably continue.
Our Commitment to the Facebook Community. Facebook May Be Forced to Go Public Amid Market Gloom. Harry Campbell Facebook is in a corner.
Another Internet hot shot, Groupon, is trading below its offering price, and the market for Internet initial public offerings over all appears to be deflating. The European sovereign debt crisis isn’t helping the market gloom. The coming months are shaping up to be a bad time to undertake an I.P.O. Still, Facebook will almost certainly have to go public during this time whether it wants to or not — and whether or not it can get a valuation of $100 billion or more in doing so.
And it’s partly Facebook’s fault — it just has too many shareholders. Securities regulation requires a United States company with 500 or more shareholders of record to begin filing reports, including audited financial information, with the Securities and Exchange Commission four months after the year it exceeds this threshold. Facebook most likely exceeded 500 shareholders this year. Most start-up technology companies are able to avoid passing this threshold. Everything You Need to Know About Facebook's $100B IPO. By now, you've probably seen the latest status update on Facebook's IPO, and it's a doosey: When the company goes public it will raise $10 billion, bringing its valuation to $100 billion While the value of raising $10 billion is self-evident, Facebook has been a private company for seven years or so and seems to be humming along quite nicely.
Why do Mark Zuckerberg and Co. want to open his books for investors and invite rude questions from analysts? We tackled that question and more below, which is designed to be a primer for that most-anticipated of all social media IPOs. Three Reasons Why Startups Should Care About the Facebook IPO.
Good reasons. The idea of "Pay Pall Mafia" is a great incentive for anyone looking to start a tech company of their own. – pattychanman
Leaders: Poking goes public. The Truth About Facebook Privacy—if Zuckerberg Got Real. If Ohio’s Republican governor John Kasich wins reelection in November, expect the chatter about a possible White House run to increase.
But could his support of Medicaid expansion sink him? Unless you live in Ohio, or are a political junkie, chances are you have never heard of its Republican governor, John Kasich. But that will likely change after November’s mid-term election if Governor Kasich wins his reelection bid by a respectable margin—setting the chattering class off yapping about his increased 2016 presidential prospects. Last month, Kasich received a national profile boost when he was invited to the widely reported, “Sheldon Primary,” the goal of which was to impress Las Vegas billionaire casino owner Sheldon Adelson. How Facebook Screwed With Everyone's Privacy And What It's Doing About It. The Apologies of Zuckerberg: A Restrospective - Liz Gannes - Social. At this point, Facebook CEO Mark Zuckerberg’s pattern on privacy is clear.
A clear report on the bullshit Zuckerberg spouts :) – pattychanman
Launch new stuff that pushes the boundaries of what people consider comfortable.
Apologize and assure users that they control their information, but rarely pull back entirely, and usually reintroduce similar features at a later date when people seem more ready for it. Of the 25 posts Zuckerberg has published on Facebook’s corporate blog in the past five years — including today’s acknowledging a long-term privacy settlement with the FTC — I count 10 that were written to address complaints. (The rest are his personal celebrations of milestones and new products.)