Matt Frei Says Data Row Raises Serious Questions About Our Relationship With Social Media
24 March 2018, 12:15
Facebook has come under fire after Cambridge Analytica was accused of illegally harvesting the personal data of 50 million Facebook profiles. Matt Frei questions the relationship between users and social media.
Facebook stock suffered after the Channel 4 investigation which exposed Cambridge Analytica for harvesting the personal data of 50 million profiles.
The company's shares fell more than 13 percent as the markets closed on Friday.
Matt Frei challenged the relationship we have with social media.
He said that social media sites have "a better window into your soul than your mother and father do, or your best friend, or even the psychiatrists's couch."
"So that data is gold dust.
"It's gold dust to anyone who wants to find out what our intentions are either in the polling booth, or in the bedroom, or in the supermarket, or the departmentstore.
"No wonder there's that much prize attached to it.
"So if this is the new gold, if data is the new gold, and people like Mark Zuckerberg are the new oil barons or databarons what should our relationship be with them?"