Description: In the light of the controversy surrounding Cambridge Analytics’ use of Facebook user data during the 2016 U.S. election, users are dumping Facebook in a #DeleteFacebook movement. One organization benefiting from the #DeleteFacebook trend is Mastadon. Mastadon – https://mastodon.social/about – is a decentralized social network, meaning its users, in effect, operate the network. And its code is open-source, meaning anyone can see the magician behind the curtain. Mastadon added over 5,000 new users on Monday and Tuesday as the Facebook bad news broke. But Mastadon’s user base, at slightly over a million, is a long way from Facebook’s two billion users.
Date: March 23, 2018
1) Were you aware of the Facebook/Cambridge Analytics controversy?
2) Would the risk over the disclosure of your personal data prompt you to consider a switch to Mastadon or to just simply delete your Facebook account?
3) On page 597 of Wiley’s Financial Accounting: Tools for Business Decision Making, you can read about what type of payoff investors are looking for when they buy Facebook shares. Does this help explain the decline in Facebook’s share price this week?