While we are all ardent users of Facebook Inc (NASDAQ:FB), it doesn’t mean that we trust the social media platform. After all, it is us who are Facebook’s biggest products, and it is not just another conspiracy theory. In a survery conducted by Survey Monkey for CNBC, 45% people named Facebook as the company whose collection of personal data is the biggest cause for concern for its users.
Concerns for privacy are growing as people are getting more aware of the social media entanglement and also the increase in directed advertising which we often interact with, and do not realise what type of our personal information would have exchanged hands for that advertisement to reach us. Facebook Inc (NASDAQ:FB) has to make money too, but is it taking the sale of our personal information too far?
There was another very interesting bit about our beloved social media platform in the survey. The question asked from the participants in this case was, which social network will be the most dominant in the next 10 years? If you are thinking Facebook Inc (NASDAQ:FB), which is a very natural line of thought, you are in for a surprise. 53% respondents believed that it is going to be a company, which doesn’t exist yet. So much for subscriber loyalty for Facebook Inc (NASDAQ:FB).
While Mark Zuckerberg, co-founder and CEO of Facebook Inc (NASDAQ:FB) is trying very hard for his social media platform to stay relevant by introducing new features, redesigning the interface every now and then to give users a more refreshing experience, and even investing in new and improved advertisement tools to keep the advertisers interested, the users still do not feel the level of personalization from the company that Zuckerberg had hoped for.
53% is a large number and it reflects that people are in fact, to a large extent, willing to change platforms. Privacy could be one such issue that could spell the end of Facebook Inc (NASDAQ:FB), but it is hard to imagine how a new platform that provides this feature could earn revenues.
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