In their post, picked up by Big Technology, Bosworth commented that the way they have been operating for years it is no longer viable. “The global sentiment has clearly shifted to a point where people are willing to accept sacrifices in product quality in ways that we had not considered in exchange for stronger data privacy guarantees,” he said.
“I don’t want us to just meet the privacy expectations of today’s consumers. I want us to differentiate our products for their privacy. Let other companies strive to keep up,” he explained in a parallel statement.
The Facebook manager also asked your employees to develop products where they won’t be able to be collected, use or store any data of its users. “Rather than imagine a product and trim it to fit modern data security and privacy standards, we are going to reverse our process. We will start by assuming that we cannot collect, use or store any data,” he explained.
The interesting thing from now on will be how this affects the company’s business model, which is based on data collection and targeted advertising. According to the company’s own executive, the new way forward for Facebook should make them undisputed leaders in the field of privacy.
Facebook’s challenge: balancing privacy with its business model.
Image: Luis del Barco | Explica.co
Modify Facebook’s business model It is not a simple task. Facebook uses the biased information —Place of residence, interests, age, sex… – of each of its users to sell advertising to advertisers. The greater the detail, the more they optimize trade posts and consequently achieve a higher conversion rate for customers.
All this translates into a better investment of the advertisers themselves, since their products go directly to their target audience. But this dynamic is also causing collateral damage to the company. The latest scandal was generated with the new policy of WhatsApp, something that did not sit well with the users themselves and that motivated a strong entry to other instant messaging applications such as Telegram or Signal.