Facebook Inc (FB)’s Lawsuit Settlement, Proposed Plan & Ethical Hacking

Editor’s Note: Facebook Inc (NASDAQ:FB)

How Facebook Is Using Your Photos in Ads (Mashable)
Much has been written regarding Facebook Inc (NASDAQ:FB)‘s new “Statement of Rights and Responsibilities” policy — the company announced changes to it a few weeks back in the wake of a class action lawsuit settlement at the end of August. Most alarming to users was the understanding that their profile data, including their profile picture, name, and personal information, could show up as part of a Facebook ad their friends may see on the site. This information was not new, but it was spelled out in more detail for the first time by Facebook.

Call to stop Facebook privacy policy change (BBC News)
Facebook is debating a change to its privacy policy as it reviews user feedback on the proposed plan. The updated policy would mean ads could be created using the names and profile pictures of Facebook users. Many members of the huge social media network have been critical of the proposed change.

Hacker to get $12,500 from Facebook for finding photo glitch (Irish Times)
An “ethical hacking enthusiast” from southern India is to receive a $12,500 bounty from Facebook Inc (NASDAQ:FB) after discovering a vulnerability which allowed him to delete any photo hosted on the social network. Posting details of the discovery on his blog this week, Arul Kumar told how the bug was initially dismissed by the company, prompting him to make a step-by-step video showing the flaw in detail.

Zuckerberg: Facebook wants to take the pain out of building apps (Tech Hive)
Facebook Inc (NASDAQ:FB) is seen as a website for connecting people. Now the company also wants to make it easier for outside developers to build their apps and connect them with users, by providing back-end hosting tools. On Thursday the social network held its first Parse Developer Day, a conference geared toward third-party app developers. Parse is a cloud-service company that provides a hosted back-end infrastructure to make it easier for developers to build their mobile apps. Facebook announced its acquisition of Parse in April.

A Strange Thing Happened The First Time Facebook’s Co-Founder Met The Winklevoss Twins — They Hugged (Business Insider)
Dustin Moskovitz is the co-founder of Facebook Inc (NASDAQ:FB) and the founder of Asana. He’s also a burner. A “burner” is someone who loves to attend Burning Man, a week-long festival in the Nevada desert that has soared in popularity, especially among the Silicon Valley elite.

Getting more bullish on Facebook (CNBC)