Facebook recently held a convention on Wednesday, where it gave details about its earnings in the fourth quarter. Facebook CEO gave the opening speech in which he put forth his goal for 2020. His goal for the upcoming decade is to be understood rather than being liked.
THE CHARGES:
Facebook has been in a struggle recently with complaints getting filed against it for selling private data of users. Facebook now has control over Instagram and WhatsApp also. Due to this, all of the accounts are linked with one another. Many websites now have the option of signing in via Facebook. This causes all of the personal data to be linked with Facebook, from install pictures to WhatsApp chats.
2.RECOGNITION FACIAL
Facebook also came up with a new facial recognition feature named Facebook’s photo labeling service, which, with the help of face matching service, suggests the name of people in the users’ photo. Facebook agreed to pay $550M in order to settle the case. This has raised doubts among the users of Facebook on whether their private information is really private or not.
3. SPREAD OF MISINFORMATION
On top of this, a lot of misinformation and hate is spread by people on Facebook, which isn’t getting controlled. This could be why Mark Zuckerberg said that Facebook is focused more on communicating more clearly on what it stands for. He also stated, “As a result of we need to be beloved, we’ve got not all the time made our views clear. As a result of we had been involved about disturbing folks. This has prompted optimistic, however shallow emotions in the direction of us and our firm. ”
4. FINANCIAL GROWTH
It was also revealed at the Q4 that Facebook reached 2.5b users with 1.66b daily active users. It also brought in $21.08 billion in revenue.
Let’s see what steps Mark Zuckerberg will take to fulfill his goals in the 20s.