Steven thinks that those surveys people take on Facebook profiles you to violate your privacy. Leo says that ALL of Facebook is profiling you, and the company sells that information. Facebook is designed to use your information for profit, and they got fined $5 Billion for doing it during the 2016 election.
Ellie would like to get rid of her account on Facebook. Completely. Leo says that you don't really have to do that unless you really want to. He suggests starting by taking the app off your phone. But thanks to the GDPR regulations from the EU, Facebook has made it easy. Go to deleteFacebook.com. It gives you a link directly to the Facebook delete page. Facebook will first deactivate your account for a month. After that, it will be permanently deleted. If you visit Facebook once during that time, it will assume you don't want to delete your account.
After agreeing to a consent decree to protect user privacy in 2011, Facebook has been fined $5 billion for failing to obey the decree. It's the largest fine in the history of the Federal Trade Commission, but it didn't really hurt Facebook, as the stock market rewarded the social media company with a $6 billion stock bump. This leaves Leo to wonder if you can really fine Facebook enough to make it hurt and if the only way to punish the social media giant is to stop using it.
When political figures make questionable or controversial quotes that may violate Twitter's Terms of Service, the social media company will put them behind a "grey wall" with the note that the post violated their abuse rules. Leaving the reader the option to read it or not. Leo says it'll be interesting to see how this will be received or if it will just add to the problem.
Facebook has launched Libra Coin, and already many countries have banned its use. The US will investigate Facebook over it, and banks will refuse to accept it. But companies like MasterCard, Paypal (of course) and others will be accepting it. Leo says that if governments hate it, it's a maybe a good thing. But only time will tell. The real problem is, Facebook wants to tie your account to your banking information, and even though Facebook says all transactions will be private, with Facebook's fantastic record of security and privacy, what could possibly go wrong?
Based on deals with Mastercard, Visa, Uber and others, Facebook is poised to launch their own cryptocurrency. But the Global Coin Consortium has bowed out. Leo says it should be nicknamed "Zuck Bucks," and the major problem is, that Facebook users will have to tie their bank accounts and other financial information to their Facebook account, and considering their security challenges, that's not going to end well.
Known as Project Libra, Facebook will launch its own cryptocurrency through partnerships with Visa and other companies. Leo says that while interesting, the problem is it requires users to connect all their financial information with their Facebook profile. Hmmmm. That's not going to fly
68% of Facebook investors want CEO Mark Zuckerberg removed. But the problem is, that Zuckerberg controls 61% of Facebook stock. Zuckerberg is a class A investor, and as such, he controls ten times more votes than Class B investors. Really, what's the point of giving them a vote?
Bernie is having issues logging into Facebook. He gets a popup that says he needs to give them some information, including a credit card number. Leo says that's definitely not Facebook. Facebook will ask for identification from time to time, especially if your account has been compromised, or you've lost access to your account, but Leo says to never do that with a credit card. Use other options like a utility bill. Here's some information - https://www.facebook.com/help/contact/183000765122339. Leo says it's likely a scam.
News is that Verizon is selling Tumblr, and PornHub wants to buy it, promising to put the adult back into Tumblr. Tumblr banned porn accounts a few years ago, but will Verizon sell it? Leo thinks it would be better for WordPress to buy it and keep it alive for kids.