Facebook Giving More of Your Data to Advertisers

facebook24-year old founder and CEO Mark Zukerberg of Facebook showed everyone at the World Economic Forum in Davos something very kool. He polled more than 100,000 Americans asking them if they thought President Obama’s new fiscal stimulus package would be enough to get out of recession. Two out of Five thought it would not be enough.

What is interesting is how he was able to get more than 100,000 responses from very targeted groups of people in a matter of minutes. Facebook has amassed a wealth of information from its 150 million strong user base (check out Facebook Planatir to see a geographical representation of users communicating) and it now plans to capitalize on the wealth of information by giving more access to corporations for market research purposes. Marketers will be able to use information you put on your Facebook profile, including your current mood, your location, content you upload, to poll and analyze you.

 Facebook already allows advertisers to market content to individuals based on their location, gender, age, and so on with pay per click ads, among other ad types. Facebook could in fact successfully monetize this but it will certainly and rightfully infuriate users and privacy advocators.

The question is if you use Facebook, how do you feel about private content you publish for your friends being used to solicit and market products to you? Do you favor Facebook pushing to monetize this lucrative revenue stream as the company struggles to generate revenue, or do you think this will snowball into yet more serious privacy infringements? With various services with unlimited online storage such as with Google’s upcoming GDrive, do you feel safe posting content on the web?

You should also check out this video for some interesting thoughts from a great panel at the World Economic Forum that includes Facebook’s Mark Zukerberg, Adobe CEO Narayen, among others, who discuss where the web and social networking is going.

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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to [email protected]
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