John Henry Clippinger: Facebook Is Betting Against its Users: The basics of Facebook:
"It is the business model, stupid. The more we know about you and the less you, our customer/client, knows about us, the more money we make. We "short" our customer because we are betting that they aren't savvy enough to protect their own interests; the client, the user, is not so much a customer, as a "mark." Goldman says they have "sophisticated" customers who know the risks. Yeah, state pension fund employees and fund manages that get paid a fraction of their salaries with a fraction of their analytic resources, data, and street smarts.
The same asymmetry of information exists in the social media space. According to a Pew poll, 23% of Facebook users don't even know about privacy settings -- period." 'via Blog this'
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