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. 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.
This article is very benign compared with Dan Lyons, writing for TDB by Dec 3
"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." by Dec 3
I founded Facebook on the idea that people want to share and connect with people in their lives, but to do this everyone needs complete control over who they share with at all times. This idea has been the core of Facebook since day one. When I built the first version of Facebook, almost nobody I knew wanted a public page on the internet.
Our Commitment to the Facebook Community
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.
Facebook May Be Forced to Go Public Amid Market Gloom
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. by Nov 30
Leaders: Poking goes public
In the world of technology, it will feel like 1995 all over again. Back then, Netscape, the creator of a web browser, staged an initial public offering (IPO) starting a fashion for flotations and a stockmarket bubble that eventually burst in 2000. In 2012, Facebook will launch its own IPO. The flotation of the giant social network, which pioneered “poking” as a way of saying hello to friends online, will set off another rush to market by fledgling internet firms.
The Truth About Facebook Privacy—if Zuckerberg Got Real
Facebook has always believed in giving users complete control over how their private information gets shared. That’s why we have repeatedly faced complaints from users, and why the Federal Trade Commission investigated us and charged us with deceiving consumers, and why we now have settled those charges by agreeing to a bunch of lame-ass new rules that we will not actually follow and which would not accomplish anything even if we did. The truth is, we have no interest in protecting your privacy, and if you still believe that we do, then you are stupider than we thought, and believe me, we already thought you were pretty stupid. Think about it. The only way our business works is if we can track what you do and sell that information to advertisers.
The Apologies of Zuckerberg: A Restrospective - Liz Gannes - Social
At this point, Facebook CEO Mark Zuckerberg’s pattern on privacy is clear. 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.
A clear report on the bullshit Zuckerberg spouts :) by Nov 30