Facebook Privacy Initiative To Subdue Criticism
Facebook to roll out a new privacy initiative. Users of Facebook are beginning to receive notifications recommending they perform a ‘privacy checkup’ as part of a new initiative from the company to help users stay informed of privacy issues. Mark Zuckerberg has pledged to improve the social media platform in 2018, and the company is fighting back against privacy breaches in the early stages of the year.
A new blog post from chief privacy offer Erin Egan announces Facebook will debut its publishing of privacy principles and offer educational videos to help users manage their privacy settings. The new post follows an announcement from chief operating officer Sheryl Sandberg that Facebook would be receiving a new privacy centre, from which users can view and change their key privacy settings in a single place.
This move from Facebook is likely an attempt to get ahead of the impending General Data Protection Regulation (GDPR) of the EU. This rule compels companies like Facebook to formally report any breaches of data within a maximum of 72 hours of discovering them, and also give users the capability to both export and delete personal data.
Facebook Live Price Chart
News Feed Changes
Despite the positive move to help users remain better informed of their data, investors who have seen Facebook’s stock increase by 146% over the last three years will be more concerned about how the company’s bottom line will be affected. Zuckerberg has acknowledged that the amount of time users spend on Facebook is likely to decrease with the upcoming changes to the news feed.
The head of technology at GBH Insights, Daniel Ives, believes Facebook’s focus on improving user experience is the right approach for its long-term future. He acknowledges the potential “ad growth hiccup” that is likely to result from the news feed changes, but he believes the overhaul will benefit long-term user engagement. This has always been the fundamental ingredient of Facebook’s monumental success, and the coming years should reflect this.
The incoming GDPR is a significant presence for all companies, particularly ones with a strong reliance on online platforms. Investors and stockbrokers will be closely watching the moves of big companies in regard to the impending changes, and the world’s biggest companies will have the most scrutiny on them throughout this time.