Facebook"s Big Decision - Go For Big Data Money or Keep Privacy Safe for Users
The treasure trove of data on Facebook's social networking site is obviously unbelievably valuable.
It is insight into the demographics, political views, and buying behavior of individuals, and of all of society's thoughts as a whole, I'd say that makes it invaluable.
With data like that you could guarantee a candidates success, or any product launch.
Of course, the individuals who have posted all of their information online also believe that their privacy is invaluable, and there's the rub.
Further, it is my belief that all of this information, and all of the knowledge learned from humans pressing the "Liked" button could go a long way to building artificial intelligent robots and computer systems which may in the future control societies and civilizations, and become interconnected as part of our eRepublic or eGovernment.
Of course, right now it appears that Facebook has a big decision to make.
Does it boost its revenues and profit, and engage in the "Big Data" industry, or does it continue (currently debated) to harvest the trust of its users by keeping their privacy and information safe? Whatever decision is made it will be quite profound and will shape human society in our near term future, so, this is a serious issue and one to watch and learn from as well.
Is it possible that Facebook can figure out a way to do both? There was an interesting article recently in the New York Times titled; "Risk and Riches in User Data for Facebook," by Somini Sengupta which was published: February 26, 2012.
The article rightfully stated; "It is Facebook's biggest conundrum.
As the world's largest social network, it faces intense scrutiny from consumers, courts and regulators worldwide over how it handles the data it collects from its 845 million users.
But as a company preparing to go public, it is under pressure to find new ways to turn that data into profit.
" Indeed, and what a fine line it is too - consider if you will all of the people and groups which have lined up on the side of privacy; EFF Users Hackers Regulators First, The Electronic Freedom Foundation out of San Francisco will be sure to file a barrage of lawsuits every time Facebook makes an error, or attempts to do anything with the data it has collected, or the information which has been posted by its members.
Secondly, the users themselves may choose to overthrow the company, do a mass Exodus, or migrate to another social networking platform.
Then of course are the hackers such as anonymous, and they seem to be unlimited in numbers, and relentless in their pursuits.
Finally, there are the regulators such as the Federal Trade Commission, who are all over this like flies on molasses, I don't know; do flies like molasses, I assume so, as I couldn't use the other word.
There is a lot at stake here, and billions of dollars in potential revenue and that forthcoming IPO too - or, if the game isn't played right, it could very well be the end of one of the greatest experiments in social networking online and all of human history.
Please consider all this and think on.
It is insight into the demographics, political views, and buying behavior of individuals, and of all of society's thoughts as a whole, I'd say that makes it invaluable.
With data like that you could guarantee a candidates success, or any product launch.
Of course, the individuals who have posted all of their information online also believe that their privacy is invaluable, and there's the rub.
Further, it is my belief that all of this information, and all of the knowledge learned from humans pressing the "Liked" button could go a long way to building artificial intelligent robots and computer systems which may in the future control societies and civilizations, and become interconnected as part of our eRepublic or eGovernment.
Of course, right now it appears that Facebook has a big decision to make.
Does it boost its revenues and profit, and engage in the "Big Data" industry, or does it continue (currently debated) to harvest the trust of its users by keeping their privacy and information safe? Whatever decision is made it will be quite profound and will shape human society in our near term future, so, this is a serious issue and one to watch and learn from as well.
Is it possible that Facebook can figure out a way to do both? There was an interesting article recently in the New York Times titled; "Risk and Riches in User Data for Facebook," by Somini Sengupta which was published: February 26, 2012.
The article rightfully stated; "It is Facebook's biggest conundrum.
As the world's largest social network, it faces intense scrutiny from consumers, courts and regulators worldwide over how it handles the data it collects from its 845 million users.
But as a company preparing to go public, it is under pressure to find new ways to turn that data into profit.
" Indeed, and what a fine line it is too - consider if you will all of the people and groups which have lined up on the side of privacy; EFF Users Hackers Regulators First, The Electronic Freedom Foundation out of San Francisco will be sure to file a barrage of lawsuits every time Facebook makes an error, or attempts to do anything with the data it has collected, or the information which has been posted by its members.
Secondly, the users themselves may choose to overthrow the company, do a mass Exodus, or migrate to another social networking platform.
Then of course are the hackers such as anonymous, and they seem to be unlimited in numbers, and relentless in their pursuits.
Finally, there are the regulators such as the Federal Trade Commission, who are all over this like flies on molasses, I don't know; do flies like molasses, I assume so, as I couldn't use the other word.
There is a lot at stake here, and billions of dollars in potential revenue and that forthcoming IPO too - or, if the game isn't played right, it could very well be the end of one of the greatest experiments in social networking online and all of human history.
Please consider all this and think on.