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Category: Social media

Facebook is blacklisted by major European bank, Nordea

Facebook is blacklisted by major European bank, Nordea

Bloomberg reports: The biggest bank in the Nordic region will no longer let its sustainable investment unit buy more stock in Facebook Inc. Nordea Bank AB has decided to “quarantine” Facebook investments in the asset management unit, “given the high-level revelations and the turmoil surrounding the company with a strong public backlash,” head of sustainable finance, Sasja Beslik, wrote on Twitter. “One-offs, fine. Usually that’s something that a company can manage in a responsible way,” Beslik said by phone. “What…

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I am being used as scapegoat – academic who mined Facebook data

I am being used as scapegoat – academic who mined Facebook data

The Guardian reports: [Aleksandr] Kogan [a Moldovan-born researcher from Cambridge University at the center of Facebook’s data breach] said the scandal raised questions about the business model of social networking companies. Kogan said: “The project that Cambridge Analytica has allegedly done, which is use people’s Facebook data for micro-targeting, is the primary use case for most data on these platforms. Facebook and Twitter and other platforms make their money through advertising and so there’s an agreement between the user of…

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Cambridge Analytica says it ran ‘all’ of Trump’s digital campaign

Cambridge Analytica says it ran ‘all’ of Trump’s digital campaign

  Channel 4 News reports: Mr Nix boasted about Cambridge Analytica’s work for Trump, saying: “We did all the research, all the data, all the analytics, all the targeting, we ran all the digital campaign, the television campaign and our data informed all the strategy.” Separately, Mr Turnbull described how the company could create proxy organisations to discreetly feed negative material about opposition candidates on to the Internet and social media. He said: “Sometimes you can use proxy organisations who…

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Facebook is in the business of data surveillance

Facebook is in the business of data surveillance

Following reports on Cambridge Analytica’s harvesting of 50 million personal profiles, Paul Grewal, a vice president and deputy general counsel at Facebook, wrote that “the claim that this is a data breach is completely false.” Zeynep Tufekci writes: Grewal is right: This wasn’t a breach in the technical sense. It is something even more troubling: an all-too-natural consequence of Facebook’s business model, which involves having people go to the site for social interaction, only to be quietly subjected to an…

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How Facebook groups are being exploited to spread misinformation

How Facebook groups are being exploited to spread misinformation

BuzzFeed reports: One week after the mass shooting in Parkland, Florida, those searching on Facebook for information about the upcoming March for Our Lives were likely to be shown an active group with more than 50,000 members. Called “March for Our Lives 2018 Official,” it appeared to be one of the best places to get details about the event and connect with others interested in gun control. But those who joined the group soon found themselves puzzled. The admins often…

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The Cambridge Analytica-Facebook debacle: A legal primer

The Cambridge Analytica-Facebook debacle: A legal primer

Andrew Keane Woods writes: If you’re [Aleksandr] Kogan, or Cambridge Analytica, expect lawsuits, public hearings and general regulatory hell. Maybe, in the extreme, jail time. If you’re Facebook, expect lawsuits, public hearings, and general regulatory hell. Maybe, in the extreme, the end of the firm as we know it. Facebook is hoping to pin this on two bad apples: Kogan and Cambridge Analytica. And bad apples they were. But this is a dangerous strategy. For Facebook, the claim that it…

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Social media operates to manipulate your perceptions, impact your decisions, and change your behavior

Social media operates to manipulate your perceptions, impact your decisions, and change your behavior

Molly McKew writes: Social media is free because the commodity it is selling isn’t the platform, it’s you. The business of social media is to harvest and sell information about you, through various means. All social media companies — not just Facebook, but Instagram, YouTube, Twitter, Google, Reddit, and a range of other apps and services — work this way. They profit by profiling you, targeting posts to you that will keep you engaged on the platform, and collecting more…

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Facebook’s rules for accessing user data lured more than just Cambridge Analytica

Facebook’s rules for accessing user data lured more than just Cambridge Analytica

The Washington Post reports: Facebook last week suspended the Trump campaign’s data consultant, Cambridge Analytica, for scraping the data of potentially millions of users without their consent. But thousands of other developers, including the makers of games such as FarmVille and the dating app Tinder, as well as political consultants from President Barack Obama’s 2012 presidential campaign, also siphoned huge amounts of data about users and their friends, developing deep understandings of people’s relationships and preferences. Cambridge Analytica — unlike…

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How Facebook’s stock structure gives Mark Zuckerberg the freedom to ignore his critics

How Facebook’s stock structure gives Mark Zuckerberg the freedom to ignore his critics

Troy Wolverton writes: If Mark Zuckerberg were a normal CEO, he might — emphasis on might— be fearing for his job right now. At a typical company, a scandal the likes of the one involving Cambridge Analytica’s illegitimate harvesting and possession of data on 50 million Facebook users might have directors asking some uncomfortable questions of the executive team. Those questions might be particularly pointed if that same company and executive team had already been at the center of a…

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Facebook’s chief information security officer planning to leave company amid disinformation backlash

Facebook’s chief information security officer planning to leave company amid disinformation backlash

The New York Times reports: As Facebook grapples with a backlash over its role in spreading disinformation, an internal dispute over how to handle the threat and the public outcry is resulting in the departure of a senior executive. The impending exit of that executive — Alex Stamos, Facebook’s chief information security officer — reflects heightened leadership tension at the top of the social network. Much of the internal disagreement is rooted in how much Facebook should publicly share about…

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Robert Mercer, the misanthropic billionaire who made Trump president

Robert Mercer, the misanthropic billionaire who made Trump president

Jane Mayer writes: [Robert] Mercer is the co-C.E.O. of Renaissance Technologies, which is among the most profitable hedge funds in the country. A brilliant computer scientist, he helped transform the financial industry through the innovative use of trading algorithms. But he has never given an interview explaining his political views. Although Mercer has recently become an object of media speculation, Trevor Potter, the president of the Campaign Legal Center, a nonpartisan watchdog group, who formerly served as the chairman of…

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Facebook is a company built around a misanthropic premise

Facebook is a company built around a misanthropic premise

Last August, John Lanchester wrote: [Mark Zuckerberg] is very well aware of how people’s minds work and in particular of the social dynamics of popularity and status. The initial launch of Facebook was limited to people with a Harvard email address; the intention was to make access to the site seem exclusive and aspirational. (And also to control site traffic so that the servers never went down. Psychology and computer science, hand in hand.) Then it was extended to other…

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The secret police enforcing Silicon Valley’s code of secrecy

The secret police enforcing Silicon Valley’s code of secrecy

Olivia Solon reports: One day last year, John Evans (not his real name) received a message from his manager at Facebook telling him he was in line for a promotion. When they met the following day, she led him down a hallway praising his performance. However, when she opened the door to a meeting room, he came face to face with members of Facebook’s secretive “rat-catching” team, led by the company’s head of investigations, Sonya Ahuja. The interrogation was a…

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Cambridge Analytica: Whistleblower, Christopher Wylie, reveals data grab of 50 million Facebook profiles

Cambridge Analytica: Whistleblower, Christopher Wylie, reveals data grab of 50 million Facebook profiles

  The New York Times reports: As the upstart voter-profiling company Cambridge Analytica prepared to wade into the 2014 American midterm elections, it had a problem. The firm had secured a $15 million investment from Robert Mercer, the wealthy Republican donor, and wooed his political adviser, Stephen K. Bannon, with the promise of tools that could identify the personalities of American voters and influence their behavior. But it did not have the data to make its new products work. So…

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YouTube, the great radicalizer

YouTube, the great radicalizer

Zeynep Tufekci writes: YouTube has recently come under fire for recommending videos promoting the conspiracy theory that the outspoken survivors of the school shooting in Parkland, Fla., are “crisis actors” masquerading as victims. Jonathan Albright, a researcher at Columbia, recently “seeded” a YouTube account with a search for “crisis actor” and found that following the “up next” recommendations led to a network of some 9,000 videos promoting that and related conspiracy theories, including the claim that the 2012 school shooting…

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How to learn more about the news by spending less time following the news

How to learn more about the news by spending less time following the news

Farhad Manjoo writes: I first got news of the school shooting in Parkland, Fla., via an alert on my watch. Even though I had turned off news notifications months ago, the biggest news still somehow finds a way to slip through. But for much of the next 24 hours after that alert, I heard almost nothing about the shooting. There was a lot I was glad to miss. For instance, I didn’t see the false claims — possibly amplified by…

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