Gundlach: Facebook is a 'diabolical data collection monster'
Ask Jeffrey Gundlach what his thoughts are on Facebook (FB), and the billionaire "bond king" doesn't mince words. They sell themselves as comfortable and safe, but they're really just a diabolical data collection monster. Since the 2016 U.S. presidential election, Facebook's business model has come under heavy fire from lawmakers and critics like Gundlach, who have questioned the company's priorities around protecting user data and privacy. Gundlach had previously recommended shorting Facebook stock in a pair trade: a move based on the view that so-called "equity bubbles" are frequently popped by regulation. Although his position was criticized by pundits, Gundlach was soon proven right when Facebook stock plunged in mid-July.
Germany orders Facebook to change the way it gathers data
moreover from London (CNN Business) Germany is moving to break up Facebook's dominant position in gathering data about social media users. The country's antitrust office ruled Thursday that Facebook is abusing its virtual monopoly in social media by combining data from Instagram, WhatsApp and third party websites. Facebook FB The office saidused the data to build a unique profile about each user to gain more market power. "We are carrying out what can be seen as an internal divestiture of Facebook's data," said Andreas Mundt, the president of the antitrust office. "Facebook will no longer be allowed to force its users to agree to the practically unrestricted collection and assigning of non-Facebook data to their Facebook user accounts."
Popular apps cease sharing data with Facebook
Popular health and fitness apps scrambled to stop sending sensitive personal information to Facebook Inc. after The Wall Street Journal reported Friday many were transmitting detailed information about topics including their users' weight and menstrual cycles. Another popular food- and exercise-logging app, Lose It!, from FitNow Inc., also stopped sending Facebook information, Sunday's test showed. The company said it is working on new systems to detect and block uploads of such information by apps, according to a person whose company was contacted by Facebook. "We work with the app developers using our SDK to ensure they adhere to our terms. In cases where we see violations, we work with the app developers to get into compliance and take action as needed," a Facebook spokeswoman said.
Facebook pulls the plug on its data snooping Onavo VPN service
Gundlach: Facebook is a 'diabolical data collection monster'
Ask Jeffrey Gundlach what his thoughts are on Facebook (FB), and the billionaire "bond king" doesn't mince words. They sell themselves as comfortable and safe, but they're really just a diabolical data collection monster. Since the 2016 U.S. presidential election, Facebook's business model has come under heavy fire from lawmakers and critics like Gundlach, who have questioned the company's priorities around protecting user data and privacy. Gundlach had previously recommended shorting Facebook stock in a pair trade: a move based on the view that so-called "equity bubbles" are frequently popped by regulation. Although his position was criticized by pundits, Gundlach was soon proven right when Facebook stock plunged in mid-July.
Popular apps cease sharing data with Facebook
according to London (CNN Business) Germany is moving to break up Facebook's dominant position in gathering data about social media users. The country's antitrust office ruled Thursday that Facebook is abusing its virtual monopoly in social media by combining data from Instagram, WhatsApp and third party websites. Facebook FB The office saidused the data to build a unique profile about each user to gain more market power. "We are carrying out what can be seen as an internal divestiture of Facebook's data," said Andreas Mundt, the president of the antitrust office. "Facebook will no longer be allowed to force its users to agree to the practically unrestricted collection and assigning of non-Facebook data to their Facebook user accounts."
Germany orders Facebook to change the way it gathers data
Popular health and fitness apps scrambled to stop sending sensitive personal information to Facebook Inc. after The Wall Street Journal reported Friday many were transmitting detailed information about topics including their users' weight and menstrual cycles. Another popular food- and exercise-logging app, Lose It!, from FitNow Inc., also stopped sending Facebook information, Sunday's test showed. The company said it is working on new systems to detect and block uploads of such information by apps, according to a person whose company was contacted by Facebook. "We work with the app developers using our SDK to ensure they adhere to our terms. In cases where we see violations, we work with the app developers to get into compliance and take action as needed," a Facebook spokeswoman said.
Facebook pulls the plug on its data snooping Onavo VPN service
Facebook is shutting down its controversial Onavo VPN app, and will end its practice of conducting unpaid market research programs, TechCrunch reports. Although paid research studies will continue through other means, the company says it will ensure users explicitly understand their privacy implications. However, code from the service lived on in the Facebook Research app, which paid teenagers as much as $20 a month for access to all their phone activity data. Related The secret lives of Facebook moderators in AmericaAfter details of the Facebook Research app emerged, Apple removed that too from its App Store. For now, Facebook's research app still runs on Android.
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