Facebook Advertisers Start Pulling Out

Facebook Advertisers Start Pulling Out, by Tyler Durden.

Facebook advertisers have threatened to abandon the platform in the wake of a massive data harvesting scandal which began after it was revealed that an app created by two psychologists – one of whom Facebook employs – gathered data on over 50 million Americans and then sold it to political data firm Cambridge Analytics and several others, who used it without consent. …

The scandal is pushing some Facebook advertisers to consider dropping the platform, reports The Times

ISBA, a British group of advertisers that spend hundreds of millions of pounds a year on Facebook, demanded answers. It is understood that some of its 3,000 brands, which include those of the consumer goods companies Unilever and P&G, will not tolerate association with Facebook if it emerges that users’ data has found its way into the hands of brokers and political campaigners without authorisation. Sources close to the trade body said that if the company’s answers were not satisfactory, advertisers might spend their money elsewhere. ISBA will meet Facebook executives this week.

Others, such as Mozilla – the company behind the Firefox browser – have already pulled out, or as it said have “pressed pause” on Facebook advertising. In a scathing post, Mozilla said that “when Facebook takes stronger action in how it shares customer data, specifically strengthening its default privacy settings for third party apps, we’ll consider returning.” Until then, “Mozilla will advertise elsewhere” …

Meanwhile, Facebook shares remain under rising pressure – falling approximately 8.6% in three trading sessions and down again on Thursday premarket as investors – particularly “ethical” investment funds – reconsider their decision to hold the increasingly radioactive company. …

It’s not just Obama’s team and Cambridge Analytica — tens of thousands of apps could be harvesting Facebook data (from The Times):

Yesterday Dr Kogan, the Russian-linked Cambridge academic who obtained the data of 50 million users by offering “personality quizzes” before selling the data to Cambridge Analytica, told the BBC that “tens of thousands” of apps could have done the same thing.

A Facebook whistleblower told MPs that the company had ignored his warnings and lost control of users’ data by giving easy access to developers. Sandy Parakilas said that when he worked at the company in 2011-12 “personal identifiable data was basically allowed to leave Facebook”. He told MPs that he had warned executives that poor safeguards could enable foreign powers or data brokers to harvest data.

Now that right wing (i.e. non-PC) politicians are using Facebook’s data against the globalist left, suddenly it’s a big issue. The media told people Obama and co. used it in 2012, and it was merely considered clever and progressive.