Thursday, December 15, 2011

Here's Why You Have To Be Careful Who You Friend On Facebook

 Did you know that who your friends on Facebook are might affect your ability to get a job or a mortgage?

Privacy and your reputation are two things being destroyed with the convenience of the Internet.

Keep in mind that every post, picture and comment you put on Facebook is permanently stored on their server, regardless if you delete your account.

So do you really know who your friends are on Facebook?

From BetaBeat, The Wrong Friends Might Sink Your Credit 

A new wave of startups is working on algorithms gathering data for banks from the web of associations on the internet known as “the social graph,” in which people are “nodes” connected to each other by “edges.”

There is this concept of ‘birds of a feather flock together,’” said Ken Lin, CEO of the San Francisco-based credit scoring startup Credit Karma.

financial institutions have started exploring ways to use data from Facebook, Twitter and other networks to round out an individual borrower’s risk profile

A new application is coming out for Facebook that allows any user to create their own "private wall".

Message and post with selected Facebook friends that never gets stored on the Facebook server. Think of it as a private messaging application through Facebook. In other words, what you do on PrivateString will never go on your "permanent record".

I like to think of it as a "just in case" application or "reputation insurance".

Find the next big investing trends.

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