Users' personal information generates revenue for Facebook.
On Facebook, user data is the "product," and advertisers are the "customers."
Facebook reached 2 billion users last June, and the social network is still advertised as "free" for everyone. However, that's not entirely true, because the world's largest social network is still doing business in something that people pay little or no attention to: personal information.
Privacy and personal information are what users trade off in order to use Facebook every day.CNNFacebook meticulously records actions like "liking," "commenting," "sharing," your current location, what you're doing, and even the content of your conversations. Combined with previously provided data such as your name, date of birth, phone number, and address, Facebook possesses a massive database.
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Users' personal information is a money-making tool for Facebook and Google. |
They are then stored in massive data centers andThey sell this information to advertisers. Based on what they collect, Facebook's system analyzes and suggests ads based on user habits. Don't be surprised if an item you previously discussed with someone via text message or video call appears on your Newsfeed.Messenger had been active just minutes before, because everything was being monitored by Facebook.
Facebook is not alone. Most major online service providers, such as Google, Microsoft, Yahoo, AOL, Amazon, Twitter, and Yelp, do the same because it's what allows them to survive and thrive.Sharing data with third parties has also transformed Facebook and Google into leading online advertisers worldwide. They have billions of users, and naturally, advertisers flock to them.eCaseerFacebook and Google control three-quarters of the $83 billion digital advertising market in the US alone.
Of course, companies also have their own rules and terms to ensure users don't feel exploited. But that's not 100% true.
Last weekend,The public data firm Cambridge Analytica has revealed alarming information, revealing that up to 50 million Facebook users' personal data records were exploited. The social network's algorithm allegedly attempted to access and manipulate information, thereby influencing the 2016 US election.
