Description: It was a big week for Facebook this week as founder Mark Zuckerberg headed to Washington to say how sorry he was for the Cambridge Analytics fiasco. But as the Washington Post observed, it seems that Facebook has had a rather long history of saying “sorry” when it comes to issues of data security. It will be interesting in the aftermath of the Congressional testimony to see if political pressure increases for regulation of social media.
Date: April 9, 2018
1) Are you a Facebook user? If so, do you have any concerns around data privacy?
2) If you were an employee at a social media company what perspective would you bring to the strategic tradeoff between data security and the revenue generated from data sharing?
3) On page 34 of Wiley’s Financial Accounting: Tools for Business Decision Making, we see a question about internal and external users of Facebook’s accounting information. What questions might an external user such as a research assistant in a US Senator’s office be asking when looking at Facebook’s financial statements?