By now you’ve heard about Facebook Inc (NASDAQ:FB)’s massive data breach, which put 50 million people’s sensitive personal information at risk.
Whether you use Facebook or not, this should concern you. Tech companies are vacuuming up our data and failing to protect it. We need to demand real change.
ValueWalk's Raul Panganiban interviews William Burckart, The Investment Integration Project’s President and COO, and discuss his recent book that he co-authored, “21st Century Investing: Redirecting Financial Strategies to Drive System Change”. Q1 2021 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors.
Facebook is really testing their users’ loyalty this year. In March, a whistleblower revealed how Cambridge Analytica inappropriately obtained Facebook data profile information for over 87 million users.2
Then, last Wednesday, news broke that Facebook was using contact information provided for security features like two-factor authentication to target advertising.3 And then on Friday, Facebook admitted to a massive data breach that exposed information for over 50 million users to unknown actors.4
This is unacceptable: they abuse the data we entrust them with, and can’t even protect the data they do collect. Facebook’s data harvesting business model just put 50 million people in danger, and comes on a string of other data breaches.
We deserve better. Take action by signing the open letter calling on tech companies like Facebook and Google to take the 5-step Security Pledge to protect our data from abuse.
We can’t just trust technology companies to “do the right thing,” and we can’t wait on out-of-touch politicians to pass laws to protect us. Companies like Facebook have been spending millions lobbying against real privacy and data security protections for Internet users and it’s time we demand a change.
Going forward, we have to fundamentally change how society and people think about security and privacy.
That’s why we launched the Security Pledge. Drafted by human rights and tech experts, the Security Pledge campaign will empower users by arming them with the knowledge of which companies take the necessary precautions to protect our data, and which don’t.
We’ll start by getting a bunch of small- and medium-sized companies to join. Then we’ll get the Facebooks and the Googles to follow suit.
We know that this is an ambitious goal, but it’s a mission that we believe will continue to strengthen the open Internet as a space for democratic engagement, innovation, and community.
If millions of people sign this open letter demanding change, we can pressure tech companies to build our privacy and safety into their business model. Companies that refuse to take the pledge cannot be trusted.