Well, think again. We all know that Facebook is free. Did u ever think about how it earns money? Money is earned by displaying advertisements to Facebook users. Advertisers can target their ads to the specific audience.
They save our interests, preferences based on the activities of profiles. Advertisers can choose age, location, and interests of people to target. Next step is to create an advertisement for posting. After all these steps included with payment completion, Facebook starts its work.
Based on the plan selected, Facebook now runs ads for a selected audience. Everyone wins in this situation.
- People get to use FB for free.
- Advertisers can do promotions for more number of people at comparatively less prices.
- FB earns money by displaying ads.
- More than 50 million users’ personal data has been breached to influence presidential elections in 2016. Cambridge Analytica is accused for doing these actions but they deny. An undercover operation by Channel 4 News reporter is done to find out the truth.
Reporter disguised himself as Businessmen and wanted to influence local elections in Sri Lanka. Cambridge Analytica’s chief executive Alexander Nix has given examples on how they do negative campaigns against rivals, false allegations and many other methods which were filmed with a secret camera.
Anyways Cambridge Analytica denies all that and says those were edited and scripted. The issue reached too far and Facebook suffered a severe loss of nearly $50 billion in market capital. This series of consequences has led to one single question, is our data on Facebook really safe?
Cambridge Analytica suspended Alexander Nix following the allegations claimed by the company. US Senators called upon Mark Zuckerberg to affirm before Congress how FB will protect their users. European Parliament also announced that it would run an investigation to see if the data is really misused or not.