In a press release on their website today, the company who harvested the data of 87 million people from Facebook is shutting down. Since the story first broke in March of the massive data breach, the scandal has cause Facebook to lose $60 billion in market share in 2 days, cause Mark Zuckerberg to testify before Congress, and changed the privacy policies for the better on tons of websites.
Some excerpts from the press release:
Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the Company’s efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas.
Legal where? And where were these attempts to "correct the record?"
While this decision was extremely painful for Cambridge Analytica’s leaders, they recognize that it is all the more difficult for the Company’s dedicated employees who learned today that they likely would be losing their jobs as a result of the damage caused to the business by the unfairly negative media coverage. Despite the Company’s precarious financial condition, Cambridge Analytica intends to fully meet its obligations to its employees, including with respect to notice periods, severance terms, and redundancy entitlements.
Cry me a river. I love seeing them shut down, but part of me fears that they will just take all their data and re-open under a different name to avoid the controversy. At least they never got their Cryptocurrency ICO off the ground.
Some excerpts from the press release:
Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the Company’s efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas.
Legal where? And where were these attempts to "correct the record?"
While this decision was extremely painful for Cambridge Analytica’s leaders, they recognize that it is all the more difficult for the Company’s dedicated employees who learned today that they likely would be losing their jobs as a result of the damage caused to the business by the unfairly negative media coverage. Despite the Company’s precarious financial condition, Cambridge Analytica intends to fully meet its obligations to its employees, including with respect to notice periods, severance terms, and redundancy entitlements.
Cry me a river. I love seeing them shut down, but part of me fears that they will just take all their data and re-open under a different name to avoid the controversy. At least they never got their Cryptocurrency ICO off the ground.