Facebook gets hammered, Cambridge Analytica CEO Alexander Nix suspended as stunning data breach spooks users
#DeleteFacebook is trending on social media in response to stunning allegations that UK based data-mining firm Cambridge Analytica used information from more than 50 million Facebook accounts to help Donald Trump win the 2016 presidential election.
#DeleteFacebook is trending on social media in response to stunning allegations that UK based data-mining firm Cambridge Analytica used information from more than 50 million Facebook accounts to help Donald Trump win the 2016 presidential election. New videos splashed on TV shows Tuesday showed Cambridge Analytica chief Alexander Nix bragging about his strategy for Donald Trump, setting off a chain of thumbs down moves from across the world. All the latest developments on this story:
Zuckerberg asked to testify in UK
A British parliamentary committee on Tuesday summoned Facebook CEO Mark Zuckerberg to answer questions as authorities stepped up efforts to determine if the personal data of social-media users has been used improperly to influence elections. Cambridge Analytica announced Tuesday evening that it had suspended CEO Alexander Nix pending an independent investigation of his actions. Nix made comments to an undercover reporter for Britain's Channel 4 News about various unsavory services Cambridge Analytica provided its clients.
New York, Massachusetts demand answers from Facebook
The top prosecutors in Massachusetts and New York have sent a letter to Facebook demanding the social media giant protect its users' private information. Massachusetts Attorney General Maura Healey and New York Attorney General Eric Schneiderman launched a joint investigation Saturday
Facebook shares sink 9% this week
Facebook sank following reports that the Federal Trade Commission will investigate its handling of user data while authorities in the U.S. and U.K. demanded answers from the company. While Facebook stock regained a portion of its losses at the end of the day, it has fallen more than 9 percent this week. Social media companies Twitter and Snap also fell as investors considered the possibility that the government will pass new laws affecting their businesses. Facebook lost $4.41, or 2.6 percent, to $168.15. The drop in the last two days is the worst for Facebook in two years, and it knocked Facebook from its perch as the fifth most valuable publicly traded company in the U.S. Warren Buffett's Berkshire Hathaway conglomerate, which owns insurance companies and railroads among many others, moved ahead of Facebook.
Consumer groups push for probe
The Electronic Privacy Information Center, the Campaign for Commercial Free Childhood and 10 other groups are urging the Federal Trade Commission to investigate whether Facebook violated an agreement Facebook signed with the FTC in 2011 offering privacy assurances. The move comes after Bloomberg first reported the FTC could already be investigating. The FTC hasn't confirmed the investigation but said it takes "any allegations of violations of our consent decrees very seriously."
AI Gold Rush: Ex-Googler fired for pointing out AI biases, says companies can’t self-regulate AI
A former Google AI researcher who was fired for voicing her concerns over Google's approach to developing AI has said that tech companies can't be trusted to self regulate how they develop AI models ethically. Timnit Gebru claims that most companies will take short cuts.
Big win for Twitter, Google at US Supreme Court in internet liability cases
The judges debated two cases in which the families of terrorist attack victims claimed that Google and Twitter should be held accountable for aiding and abetting ISIS, which resulted in the death of their loved ones.
EU slaps Meta with a record-breaking fine of $1.3 billion for exporting European data to US
The EU has imposed a record-breaking fine of $1.3 billion on Facebook's parent organisation, Meta Platforms, for illegally sending data mined form EU residents to the US, and possibly sharing it with US intelligence agencies, without informing users.