March 21, 2018

The Facebook data breach – will this start a decline for Facebook, or is it just the beginning of long overdue regulation?

Cambridge Analytica’s CEO has been suspended after UK’s Channel 4 went undercover and recorded him boasting about being the mastermind behind Trump’s election victory in 2016. 

 

Massive Facebook Data Breach.png

Cambridge Analytica reportedly collated the personal details of up to 50 million US Facebook via a 3rd party Facebook app, then used the Facebook Ad Platform to target specific voters in key swing states, deliberately seeding and promoting misinformation about Hillary Clinton. This included up to 100 memes with ‘Defeat Crooked Hillary’, a slogan they claim to have invented. With no branding on the content it was impossible for it to be tracked or attributed back to Cambridge Analytica or Trump (their client), and no way for voters to know they were experiencing a political message. 

The Facebook share price crashed yesterday, wiping $50 BILLION of its market capitalisation. Analysts expect increased Facebook regulation and decreased usage driven by the scandal to ultimately impact advertising dollars. 

US, UK and Australian governments have launched investigations and a please explain from Facebook on how easily fake news can be spread on their network. 

To add to Facebook’s troubles, #deletefacebook is now trending on Twitter, with many high profile people joining the movement, including WhatsApp cofounder Brian Acton.

And Chris Wylie, a Cambridge Analytica whistleblower, has described the firm’s actions as ‘weaponising data’ that ‘explored mental vulnerabilities of people’ by creating a ‘web of disinformation online’:

 

One word. Wow.

Stay tuned as this story is only going to get bigger from here.

To keep up to date with all of the latest social media marketing trends – be sure to sign up to the SMC Blog

Free video training: How To Grow Any Business By $1M p.a In 12 Months Or Less Using Social Media Marketing.

7,000+ views and counting

About the author 

Jonathon Tanner

Jonathon Tanner is the Co-CEO of Social Media College, Australia's leading educator and trainer for social media.

He co-authored the Diploma of Social Media Marketing, the world's first and only Australian Government recognised course in social media marketing, delivered by 25 leading colleges and TAFEs across Australia, and articulating into several Bachelor programs at Australian Universities.

His deep expertise in social media spans content marketing, social media strategy, 15 different social media networks, paid social advertising, personal branding, email marketing, and social media conversion.

Jonathon has also co-founded several other businesses, as well as spending 12 years as a management consultant specialising in mergers & acquisitions for private equity firms, growth strategy, and operational improvement.

Jonathon holds a combined Bachelor of Laws (Honours) and Bachelor of Commerce from the University of Sydney.

Leave a Reply


Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}