Yesterday, Sandy Parakilas published an insightful op-ed in the NY Times. Titled We Can’t Trust Facebook to Regulate Itself. In this article, Parakilas, a developer for Facebook leading up to the 2012 IPO, describes Facebook as “a company that prioritized data collection from its users over protecting them from abuse.” Parakilas writes:
Facebook knows what you look like, your location, who your friends are, your interests, if you’re in a relationship or not, and what other pages you look at on the web. This data allows advertisers to target the more than one billion Facebook visitors a day. It’s no wonder the company has ballooned in size to a $500 billion behemoth in the five years since its I.P.O.
The more data it has on offer, the more value it creates for advertisers. That means it has no incentive to police the collection or use of that data — except when negative press or regulators are involved. Facebook is free to do almost whatever it wants with your personal information, and has no reason to put safeguards in place.
In my PhD dissertation, completed in 2013, I made this very point from the outside, arguing for strong evidence that Facebook is in essence a media company rather than the technology provider that at that time they claimed to be. There is an important difference between a technology company and a media company of course. A technology company doesn’t tend to make money off of advertising whereas advertising is essential for media companies. What is particularly insidious about Facebook, as highlighted in Parakilas’ op-ed, is that beyond simply providing attention to advertisers, Facebook also mines and sells user data.
Continue reading “Because You’re a Media Company”