Mike recently self-published his first book. Now he needs help advertising it. Leo says that social media, Google, and Amazon are the three best places to advertise. But he also asks "where are your readers"? For that, Facebook and Google are the best to go for buying advertising. And the marketing is very narrowly focused, with small $100 buys. Leo recommends APE: Author, Publisher, Entrepreneur—How to Publish a Book by Guy Kawasaki.
This week, at Oculus annual VR conference, Oculus announced a new virtual social network called Facebook Horizon, where you can join friends in a virtual room and hang out. It's like the infancy of Ready Player One. Leo says it makes sense now the way Facebook would spend $3.2 Billion for Oculus, now. They see the future. Here's what it will look like:
George is having issues with his phone screen going black when he opens his Facebook app. What gives? Leo says that the Facebook app is crashing and closes out when the screen goes to black. If you delete it and reinstall it, that should solve the problem.
Todd got a Facebook message from a friend that said "Is this Your Video?" and it had his picture on it. So he clicked on it, and it said the content wasn't available. Leo says that Todd was likely hacked in a phishing scam, accessing his Facebook account. What they are hoping is that you log into Facebook and get their password stolen. They can also try and get you to pay for a bogus support contract or grab your credit card number. They can even put a bitcoin miner on your computer. So NEVER click on a link. EVER.
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.
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