Facebook has been going through some tough times when it comes to public sentiment. The platform has lost 80% of its market cap in the last 12 months and as for the company’s owner, Mark Zuckerberg, he’s also lost $19 billion in the process.
In addition to losing money, he seems to be lacking in credibility and trust. A few of the main causes of such negative sentiments are selling data and data leaks.
However, in all fairness, Facebook is not the first, nor is it the last, company to apply negative acts to its business. A few other notorious examples include Citigroup and JPMorgan, which have helped former company Enron to fabricate transactions. Nestle is also known for using child labor to put products together.
Thus, even though Facebook may be selling data, there are also other companies out there that have adopted practices that can and are seen in a negative light.
At this point, Facebook reached the one-year anniversary of the Cambridge Analytics scandal. At the time, the platform removed the ads that were criticizing its use of the company and it also faced several departures from executives in the company.
There are those that suggest criticizing the platform for using the analytics system is not the right approach. They argue that political campaigns are the ones responsible for using the analytics system in an attempt to sway election results. As a result, maybe expressing negative sentiments toward Facebook isn’t the best thing.
As for selling data, there are those that argue that it shouldn’t be surprising to people. The platform consistently advertises products that are consistent with users’ age groups and demographics.
Thus, users should have been aware of the issue and maybe impliedly consented to it. They further argue that those who do hate on Facebook are entitled. The platform essentially provides a free service, without having to pay for content on the platform or use. At the end of the day, though, this is for the user to decide.