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Facebook- Hacked us All?

Facebook- Hacked us All?

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Do we really know what much does our data get traded for? Do we really mind data privacy by allowing an application to access our smartphones? Well we certainly have some bloopers for each one of us, Youtube has just been penalized for $170 million for violating children’s privacy, European Union just slapped Facebbok with a fine of $5 billion for privacy practices, Apple just got sued for price inflation in their istore, Google too is at worse stand for promoting its clients in its algorithms. With all this put in perspective, are the tech giant really making our lives easy or its just the other picture that are likely to discover.  
The root cause is empowerment that these companies have gained and the trust and dependability of the masses has made them real traders. We all are being held and tested as prototypes of their high-end technological advancements, believe it or not an up gradation of a software or a an update  is a new way with improved and enhanced ways to get user more tech dependent and thus spend more and more time on a smartphone. An average user, logs in 150 times/day and this rate is alarmingly high as per experts. 

Facebook & Libra 
The big question before is – how do you judge something as right or wrong? And with an imposed belief system our brains shall soon die with their abilities to create a philosophy that the world exists on today. 
There has been no agreement by this company yet on the adherence/cooperation with the government on norms for data practices whereas Google hasand after Cambridge analytica there is no denying that Facebook can be easily controlled for data violation. AS mark Zakerberg is the majority shareholder and his company doesn’t have a director who can be withheld. Moreover, it is also true that Facebook hold the power to suppress one’s negative comments and bard him from access what if the same implies to Libra. The more someone’s complying to the standards of facebook the more he is qualified , thus making currency limited to few , creating a dependence for its practices to be accepted to be able to enjoy this digital currency and the possibilities are endless. Simply, speaking facebook can enslave us to its practices and qualifications norms like most others and this would impact developing countries a lot where digital currency still hasn’t reached to the masses but facebook has!  

Government Reforms 

The US Department Of Justice and Federal Trade Commission have begun investigating Google and Amazon, facebook respectively for their trade practices and in the interests of data security of their users. The giants are huge and almost everyone does all, how will they do it? There are speculations that if needed to safeguard the needs and interests of the citizen and the market; these tech juggernauts shall be divided just like Standard Oil. 
Facebook is supreme in the world of messenger with its acquisitions of Whatsapp and Instagram, but not all these companies when held separate are profitable, the same implies to Youtube which is barely approaching break-even. When separated these companies may be competing as individual players in their businesses and that’s good for competition indeed. Most may get wiped out and what remains shall survive, ending up the unfair practices and recreating a market of the fittest. 
But all this is still in process and to most governments across the world these players are very welcome with whatever their internal practices are. It may so happen that we may one day find ourselves out of the global warming threat by than have lost our intellectuals to think of any other that may exist. So reduce dependence on technology and it is well said “where all think alike, no one thinks more”. 

Raj C (Marketing & Sales)
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