Facebook Is Unscathed Despite Public Backlash

Facebook’s Political and Privacy Concerns

Facebook continues to crack down against violence and hate speech, and during the quarter, it took down groups that broke these rules. In addition to this, it also stopped recommending groups that had to do with civics and politics in the wake of the election. It continues to fine-tune its policies, but as of right now, it continues to plan to keep civics and political groups out of recommendations, with plans to expand the policy globally. Facebook has also reduced the amount of political content on News Feed. While these moves help remove these political groups from recommendations for users, it doesn’t disable people from engaging in political groups and discussions.

The recent Capitol riots have sparked a lot of concern regarding the influence that social media platforms like Facebook have on the population. Facebook had shied away from taking action on people and groups that promote extremist and fraudulent views. However, after the riots that were said to be instigated by former President Donald Trump, Facebook finally took his page down from its platform.

Users continued to express concerns about privacy issues on its service. During the quarter, it updated WhatsApp’s privacy policy and its terms of service. The initial notice to the users suggested that if they did not accept WhatsApp’s updated privacy policy, which would allow sharing of a lot more information with Facebook, they would not be able to use WhatsApp. The ultimatum resulted in a lot of user discontent and backlash and they migrated their accounts to alternate services like Signal and Telegram. Facebook had to go back on its proposal and now the update will not change the privacy of people’s messages, keeping them end-to-end encrypted. It will, however, host business messages, if the business chooses to. Facebook is pushing back the date of the update to allow people to understand what the update means.

Facebook needs to be regulated. However, the legislators don’t really know how to regulate the company or the industry. As such, they continue on with gangbuster financials.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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