How Much Money Facebook Gets From Selling Your Data

Fb CEO Mark Zuckerberg testified earlier than Congress for over five hours on Wednesday, where he answered questions from senators on a extensive variety of subjects.
throughout an change with Senator John Cornyn, Zuckerberg laid out a simple explanation for how facebook makes cash with user statistics.
Zuckerberg's clarification is a concise walkthrough of how your data is become income.
you're forgiven in case you didn't watch all five-plus hours of fb CEO Mark Zuckerberg answering questions at some stage in a joint Senate Judiciary and commerce Committees listening to on Tuesday.

Even in case you were looking, it is entirely possibly that you overlooked a critical, brief segment across the two-hour mark, where Senator John Cornyn requested Zuckerberg approximately how fb handles ex-person data.
even though particularly unrelated to what Senator Cornyn asked, Zuckerberg's solution turned into a fascinating, concise check out how fb turns its considerable quantity of user records into income.
"there's a very common misperception approximately facebook — that we sell statistics to advertisers," Zuckerberg said on Tuesday. "And we do now not promote information to advertisers. We don't promote records to every person."
indeed, facebook makes it money via advertising and marketing. fb doesn't provide records to advertisers — it does the work for them.
here's Zuckerberg explaining it to Senator Cornyn on Tuesday's Senate listening to:
"What we allow is for advertisers to inform us who they want to attain, and then we do the placement. So, if an advertiser involves us and says, 'All proper, i'm a ski save and that i need to sell skis to girls,' then we'd have some experience, because humans shared skiing-associated content, or stated they had been interested by that, they shared whether or not they're a female, and then we will show the commercials to the proper human beings without that facts ever changing arms and going to the advertiser."
in the wake of the Cambridge Analytica scandal, which revealed that at least 87 million fb users had their statistics used without consent via a political firm to steer elections (together with the 2016 US Presidential election), trendy customers, celebrities, tech executives and politicians have began brazenly thinking fb's dealing with of consumer data.
facebook now admits fault for permitting third-parties to get admission to person facts inappropriately, which is what led to corporations like Cambridge Analytica possessing person information within the first region. The corporation has since close down loopholes in its social media provider that allowed 1/3-parties to "scrape" information from its users.
All that stated, fb nevertheless immediately is based on user facts to make money — it's simply not in quite the way you can have thought.
even as facebook’s spokespeople did now not respond to our inquiries, we are able to offer one rationalization in their defense: They do not “promote off” information, technically. They sell a provider to advertisers. trying to peddle your hemp-rope macramé vests? fb will fortuitously take your cash and use algorithms to serve your commercials to a cautiously curated subset of its customers. people with no flavor possibly. Or no palms.
How Much Money Facebook Gets From Selling Your Data How Much Money Facebook Gets From Selling Your Data Reviewed by Talk For Tech on June 27, 2018 Rating: 5

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