Ever since the Cambridge Analytica incident took place, the call to delete Facebook has been trending across social media. And a recent survey now suggests that because of that scandal, 1 out of every 10 Americans will be looking to part ways with Facebook for good.
The survey was conducted by the research group known as Techpinions and after asking 1,000 Americans whether they were going to delete their account, they found that roughly 9 percent had already done so.
Users claim that privacy concerns were one of the main reasons that they considered removing their account and closing it down for good.
About 17 percent of those surveyed had also responded in saying that they removed Facebook from their mobile phone. Some said that they didn’t think that there was anything that Facebook could try and do that would repair their reputation and build that trust again. However, Facebook has suggested that the calls to remove Facebook aren’t having that much of an impact on their business.
According to the vice president of global marketing solutions for the company, they don’t think the recent troubles are going to negatively impact the business in the long term. In other words, they don't think their overall business model and revenue scheme will be negatively impacted.
They also claim that many Facebook users still haven’t adjusted their privacy settings despite the recent headlines.
And since the news about Cambridge Analytica has surfaced, it has been reported that the company lost billions in market value as a result.
However, many financial analysts have suggested that the value was unfairly dragged down due to the scandal, that the market was overreacting, and that it was likely to eventually make a comeback.
Some marketing firms and advertising agencies have suggested that as more time passes that people will forget about the privacy issues and they predict that within just a few weeks time that perhaps people won’t care anymore about the issue. That’s because, they suggest, people will prefer to trade their personal information because they like to see relevant ads on their devices.
Pics:
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not financial advice
Sources:
http://fortune.com/2018/04/12/delete-facebook-americans-privacy/
http://fortune.com/2018/04/13/facebook-cambridge-analytica-data-business/
http://business.financialpost.com/technology/u-s-ftc-investigating-facebooks-privacy-practices
https://www.cantechletter.com/2018/04/facebook-stock-is-looking-attractive-scotia-wealth-management-says/
http://money.cnn.com/2018/03/21/investing/facebook-stock/index.html
https://www.forbes.com/sites/angelauyeung/2018/04/10/zuckerberg-billions-richer-facebook-stock-capitol-hill-congressional-hearing/#182e835e7810
https://www.fool.com/investing/2018/03/25/can-facebook-stock-bounce-back-after-last-weeks-14.aspx
https://www.cnbc.com/2018/04/12/marketing-consultants-agencies-people-will-forget-about-data-privacy.html
https://www.theverge.com/2018/4/10/17165130/facebook-cambridge-analytica-scandal
I think Facebook was overvalued before and even after the sell off it’s still too high by historic norms. It will prob recover but remain susceptible to a wider market down turn.
I remember years ago, there was an Extra Strength Tylenol http://content.time.com/time/nation/article/0,8599,1878063,00.html and eveeryone swore off Tylenol for good. Now, everyone has forgotten and it is in every cupboard again.
I hope it is not the same with Facebook. I mistrusted them from the beginning because pumping your personal info into the internet for free sounds like a bad idea in the first place...especially into a corporation like Facebook.
I am just hoping it starts a good movement of people planning their exit strategy and that many of them discover this place.
Have people thought about all of their accounts that are powered by Facebook? What becomes of them? I don't know about everyone else but I used Facebook to sign up for a whole bunch of other services, so am I even in a place where I can delete my Facebook?
good question!
Even people don't delete their facebook account, they should limit their private information they put on facebook if they don't want their privacy to be infringed upon.
They should limit private information on the fuckin internet, not just Facebook.
There will be other scandals with or without new regulations.
Yeah.
Its time for the new to move in...FB is outdated and no longer relevant
Sadly, what probably happens is that people quickly forget the subject and continue browsing on Facebook normally ... thanks for the post.
I said ta-ta to FB months ago. Then I watched the senate hearings with Zuckerberg this past week. His testimony reassured my reasons for being leery of the social network.
Sure it's nice to see old friends, keep up with distant family, etc, but all the behind the scenes spying <--- for lack of a better phrase... makes me concerned.
I don't use facebook anymore, I'm addicted to steemit :D
In much of the world they talked about the incident on Facebook, it is understandable that this is happening.
I wish you a beautiful weekend Thank you very much for sharing this news dear friend @doitvoluntarily
facebook I still use for promotion of steemit posting
This is very interesting news. It seems now people have started smart in choosing social media. Thanks for sharing @doitvoluntarily.
This likely going to be true. Sooner or later, Facebook will be like our google mail where we only use to send mails.
There is something empowering and freeing about deleting Facebook.
There was only one reason I was using it before I finally deleted it, and that was to keep in touch with owners of the wonderful Czechoslovakian Wolfdog breed that I also have.
Otherwise there really wasn't anything else about it that I liked. I had felt for a while that privacy, or lack thereof was a huge issue for me. So it had to go before I have my whole life stolen.
Go for it.......DELETE FACEBOOK.....oh it feels so liberating. 😀
I found there were too many whining morons on it anyway, and given that they shared every last detail of their lives, perhaps they shouldn't be too surprised at the theft of all their volunteered information.
I don't know. I think the trend might continue. There aren't very many people I know here in the real world that are knowledgeable about crypto, Steemit, blockchain; they really aren't aware of the other options there are aside from Facebook. Yet still, I hear daily about people dropping off the platform; nit even considering an alternative.
So I say, let's bring em all over to Steemit!
I deleted mine simply because I was bored with the platform. I didnt see the point of posting anything.... it just so happened to be right around the time of the scandal.
Personally I always been aware that you're not the true owner of your data on Facebook, as Google, as basically everything on internet.
I deleted my FB account because they wanted me to use my real name, otherwise I would still using it, I don't know a better place to discuss with real life friends.
Good post thanks to share about the development in the social world, especially the Facebook media
makes absolute sense. I myself have deleted the apps and only use the page via browser if absolute necessity. The apps have reported to be storing sensitive data and that really had my thinking if its even worth.
yeah i deactivated my account. it was something i was thinking of doing for a while and this data breech was the straw that broke the camel's back, so to say!!
i find so much more fulfillment/connection (not to mention earnings!) here. facebook is dying off in my view and i am trying to educate and raise awareness for my friends, but they're super hesitant for some reason!!! whatever... making new friends over here lol
the data breech is serious for humans. they're selling US... why be a part of that system any longer?!
I would happily delete my facebook account if I could get my friends to migrate to another platform. However they probably won't move off the platform and I still want to communicate with them. I'm not too worried about the data that's being collected on facebook because I'm sure everyone else including the government knows everyones sh!t. It used to bug me when I would see ads for stuff that I would talk about within minutes of saying whatever it was amazon or facebook wanted to serve an ad. I have become desensitized and I don't think that's a good thing.