Crypto Currency

9 Questions for Facebook After Zuckerberg’s Privacy Manifesto

presented an entirely new philosophy. For 15 years, the stated goal of Facebook has been to make the world more open and connected; the unstated goal was constructing a targeted advertising system built on nearly infinite data. Yesterday, though, Zuckerberg pronounced that the company is reversing course. The social network of the future won’t be…


presented an entirely new philosophy. For 15 years, the stated goal of Facebook has been to make the world more open and connected; the unstated goal was constructing a targeted advertising system built on nearly infinite data. Yesterday, though, Zuckerberg pronounced that the company is reversing course. The social network of the future won’t be one where everyone connects openly together, as in a town square; it will be one where more connections happen one to one, as in a living room. Instead of data permanence, data will disappear.

Facebook isn’t putting the current platform—worth roughly half a trillion dollars—in the garbage disposal. As Zuckerberg made clear in a Wednesday afternoon interview with WIRED, Facebook as we know it now will still exist. But it will change. And there will also just be something new.

It’s unclear the extent to which Facebook will ultimately push users toward privacy, and in what exact ways. But Zuckerberg controls Facebook, and his manifesto will make its gears start to turn in different directions. As that begins, here are nine important questions the company will have to think through.

1. Facebook knows how to make money in the town square. How does it make money in this new living room?

Private, encrypted messaging is hard to monetize. In our interview, Zuckerberg demurred when asked what the new business model will be after clamping down on the data firehose. The company would, he said, build the product first and figure out the financials later. Facebook does have nascent efforts in commerce and cryptocurrency, but there’s no question that figuring out revenue on the new platform will be a hard problem for Dave Wehner, Facebook’s chief financial officer. A former Facebook employee told me last night, “Mark is like a cartoon character who walks through a bunch of dangerous situations and always comes out on top. Dave is the guy running behind him catching the cat, stopping the ladder from tipping, deflecting the flying axe with a manhole cover.”

2. What does this do to safety on the platform?

Facebook rightly faces endless criticism for all the data it collects. But there are benefits to data collection as well. It can help stop bullies, or even potential suicides. Once those communications become private, Facebook no longer has the same powers to track and moderate. The public—from the media, to nonprofits, to academics, to individuals, to the government—also uses the public nature of Facebook to track bad behavior. If Russian intelligence operatives had just used private encrypted messaging to manipulate Americans, would they have been caught? As Facebook knows from running WhatsApp, which is already end-to-end encrypted, policing abuses gets ever harder as messages get more hidden.

In our interview, Zuckerberg explained that this, not fears about the business model, is what keeps him up at night. “There is just a clear trade-o

Read More

Be the first to write a comment.

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto Currency

BTC trades near $66K as a break above the 50-Day EMA strengthens bullish momentum

Key takeaways Bitcoin (BTC) trades around $66,300, extending gains after reclaiming the 50-day EMA. The leading cryptocurrency remains below the 100-day and 200-day EMAs, leaving key resistance levels intact. Technical indicators, including the RSI and MACD, point to strengthening bullish momentum. Bitcoin (BTC) remained firm around $65,800 on Wednesday…

Key takeaways Bitcoin (BTC) trades around $66,300, extending gains after reclaiming the 50-day EMA. The leading cryptocurrency remains below the 100-day and 200-day EMAs, leaving key resistance levels intact. Technical indicators, including the RSI and MACD, point to strengthening bullish momentum. Bitcoin (BTC) remained firm around $65,800 on Wednesday…
Read More

Continue Reading
Crypto Currency

FX Bots in the Blockchain Era: How AI-Driven Trading Automation Is Crossing From Crypto Into Currency Markets

AI-driven trading bots are transforming the traditional foreign exchange (FX) markets by incorporating the infrastructure of high-frequency execution, non-custodial smart contracts and the multi-asset prediction systems that were originally perfected in the cryptocurrency sector. This modern amalgamation of AI, blockchain technology and currency trading is consistently dismantling the outdated…

AI-driven trading bots are transforming the traditional foreign exchange (FX) markets by incorporating the infrastructure of high-frequency execution, non-custodial smart contracts and the multi-asset prediction systems that were originally perfected in the cryptocurrency sector. This modern amalgamation of AI, blockchain technology and currency trading is consistently dismantling the outdated…
Read More

Continue Reading
Crypto Currency

US Seizes $25 Million in Crypto Linked to Global Fraud Schemes

US authorities seized more than $25 million in cryptocurrency linked to international fraud networks that targeted victims across the United States and Canada. The latest action is part of a wider effort that has recovered over $800 million. US Agents Seize $25 Million From Crypto Scam Networks US Attorney Jeanine Ferris Pirro said the seizure

US authorities seized more than $25 million in cryptocurrency linked to international fraud networks that targeted victims across the United States and Canada. The latest action is part of a wider effort that has recovered over $800 million. US Agents Seize $25 Million From Crypto Scam Networks US Attorney Jeanine Ferris Pirro said the seizure
The post US Seizes $25 Million in Crypto Linked to Global Fraud Schemes appeared first on BeInCrypto…
Read More

Continue Reading
Crypto Currency

Bukele’s Reform Makes El Salvador a Top Tax Haven: 0% on Foreign Income and Bitcoin Gains with Minimal Presence

Bitcoin Magazine Bukele’s Reform Makes El Salvador a Top Tax Haven: 0% on Foreign Income and Bitcoin Gains with Minimal Presence With no capital gains tax on Bitcoin, no wealth or inheritance taxes, and competitive incentives for tech businesses, the reform solidifies El Salvador’s status as a Bitcoin-friendly jurisdiction targeting entrepreneurs and families…

Bitcoin Magazine

Bukele’s Reform Makes El Salvador a Top Tax Haven: 0% on Foreign Income and Bitcoin Gains with Minimal Presence
With no capital gains tax on Bitcoin, no wealth or inheritance taxes, and competitive incentives for tech businesses, the reform solidifies El Salvador’s status as a Bitcoin-friendly jurisdiction targeting entrepreneurs and families…
Read More

Continue Reading