Re:FTC Probing Facebook for Use of Personal Data, Source Says
by this_user on Tuesday March 20, 2018 @11:27AM
(#16629366)
The problem for these companies is that hoarding and monetising data _is_ their business model. If they can't do that anymore, they are going to struggle in a serious way.
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Re:FTC Probing Facebook for Use of Personal Data, Source Says
by grasshopperpurp on Tuesday March 20, 2018 @12:17PM
(#16629906)
That seems like a feature, not a problem.
Re:FTC Probing Facebook for Use of Personal Data, Source Says
by ckastner on Tuesday March 20, 2018 @12:17PM
(#16629916)
They aren't going to struggle, their currently spectacular profits are just going to get somewhat more modest.
This is what happened to the banking industry after the 2008 financial crisis.
Re:FTC Probing Facebook for Use of Personal Data, Source Says
by gfo on Tuesday March 20, 2018 @01:28PM
(#16630640)
I've been wondering what kind of collapse would happen when something like this happened to a business where the majority of their revenue comes from monetizing their consumers. Of course, a collapse would only be possible if:
* The FTC actually does something about this in a way that companies in a similar manner are also affected (directly or indirectly) * These companies don't find a way to get around the issues.
I'm not convinced anything will significantly damage tech companies whose primary profit driver is their users' data anyway. The general public has been using them for years now and despite any outrage, it's become too integrated in society for people to suddenly stop (unless someone comes up with a better alternative).