Wednesday, December 21, 2011

Facebook "Likes" Things Without Your Permission

How far is Facebook willing to go to make a buck?

How much information on Facebook are you willing to give up?

A backlash against Facebook is coming..just watch.

Facebook has already been scolded with their opt out privacy feature. Users use to have to opt out of new info sharing features. Now it is more "opt in" but these next developments should have you concerned.

  I see a growing backlash that will cause Facebook members to have a "Occupy" moment here.

Soon people will realize how their personal information is being used without their consent, and how much revenue is being generated from it.

Two stories caught my eye this week that involve Facebook going too far with using your personal information.

1. Currently there is a lawsuit that involves Facebook using its member's likeness in advertising.

When you see one of your friend's picture next to an ad saying "Joe Smith likes this". Facebook is using your image to promote a product, for which they get paid.

Did you give brand x the permission to use your image to promote this product?
Are they sharing in the ad revenue with you?

Tell me this doesn't sound a bit creepy.

Here is a quote from Chief Operating Officer Sheryl Sandberg:

This is the elusive goal we’ve been searching for, for a long time; making your customers your marketers… 68 percent more people are likely to remember seeing the ad with their friend’s name [and they are] 300 percent more likely to purchase

The second invasion of privacy:

2. Netflix wants to let Facebook use your viewing habits to share with the public.

Facebook members in the United States may soon be able to see which of their friends and family members have just video-streamed. (full story)

So all of your friends will know what movies you rent.

Once again your information is being used to promote business for someone else.

There is big investing trend coming and it involves maintaining control of your privacy and digital content. It is a "wave" I discuss in my book (How To Find Big Stocks)

Every time you hit the "send", "reply" or "message" button, you are creating a digital fingerprint. This is a fingerprint that will be stored on a computer forever. Think about that next time you are quick to respond on a public network.

Their is an app coming out soon for iPhone and Droid users that will enable communication on a "private wall".
(email me if you want to know who has this technology)

The info you post on the wall can only be viewed by the two parties and is NEVER stored on a server.

This "privacy on a public network" is a trend I would start watching.

 Want to see how I spot investing trends?

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