Facebook doesn’t have a great track-record on privacy – but that might change sooner than you think
Facebook is not known for being a privacy-first platform. In fact, it is literally the opposite of that: a social network. However, the company may be planning a pivot towards more private communications, the groundwork for which is laid with features it’s added over time, like messenger and private groups. That, at least, was the story as told in a recent blog post from its founder and CEO, Mark Zuckerberg.
Facebook’s share price has appreciated by 28% so far this year
Source: Yahoo Finance
Zuckerberg wrote: “I understand that many people don’t think Facebook can or would even want to build this kind of privacy-focused platform -- because frankly we don’t currently have a strong reputation for building privacy protective services, and we’ve historically focused on tools for more open sharing. But we’ve repeatedly shown that we can evolve to build the services that people really want, including in private messaging and stories.”
Zuckerberg said that this focus was a result of the fact that people were looking for more “intimate” types of online communication in small groups rather than “the digital equivalent of a town square.” He said that the company would look at rebuilding a number of features to align with this desire, and noted that smaller groups and private, temporary, posts are the fastest-growing types of digital communication.
The changes planned would also see greater synergy between Facebook’s major platforms (Facebook itself, WhatsApp, and Instagram), letting the company manage users’ identities and data more easily. Zuckerberg added: “of course, this would be opt-in and you will be able to keep your accounts separate if you’d like.”
Dominion holds Facebook in its Global Trends Ecommerce Fund.
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