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Showing posts with label IPO. Show all posts
Showing posts with label IPO. Show all posts

Saturday, 4 January 2014

Does profit come before privacy for net giants such as Twitter?


It seems there is a lot more than meets the eye when it comes to large companies that are run on the net. A recent study of net giants has revealed that Facebook, Twitter and Google snoop on consumer emails. Billions of people use the internet every day and they are often uploading very personal data which stems from their name to bank details, they  put a lot of trust into the internet and do not often think twice if a source is trusted. However, can we really trust the internet?
In January 2009, an online hacker sent a tweet from the account of then-President-elect Obama, offering his more than 150,000 followers a chance to win $500 in free gasoline. At least one other bogus tweet was sent from the account of Fox News. When a company promises consumers that their personal information is secure, it must live up to that promise. Since these incidents security has been tightened however, Internet hacking still occurs.
Do we really know what is done with the data we upload to these websites and who it is shared with? For example, on Twitter personal details are entered such as a name, email address, home address and other information if you choose to. Did you know that Twitter actually sells your data that you give to them on to advertisers? They look at your tweeting activity and the pages you visit online to see what companies are best suited to you and then personalise advertisements based on the information they have gathered from these sources. Does it worry you that Twitter knows your most visited sites and makes money from snooping your personal online activity? It has been reported that Twitter goes as far as reading consumer emails too. So, once we go online we really have no control over what is done with our data.
Twitter has just been through an IPO (initial public offering) where it has sold its shares to the public. This has now put them under pressure to become a profit making company, as they now have to satisfy their shareholders.

In the past the topic of online privacy has not been one of high concern, but it is now increasingly being brought to attention as technologies and the Internet are becoming more popular. Recently Obama has been filing for stricter privacy laws to help protect consumers. Google has recently been charged 22 million dollars by the FTC (Federal Trade Commission) for breaking privacy laws; no other company has ever had to pay a fine of this larger extent. The FTC is becoming stricter on enforcing online privacy as new developments in technology are making the Internet an increasingly unsafe place.  Facebook has also been criticised for the way it uses data. 
However, although these companies have been reported to be abusing data, it has still not stopped people from using these sites keeping them at the top of the net giants.  Does this mean that it is something that consumers are not concerned about or are just unaware of? Does it concern you that net giants like Twitter are selling on your data to make more profit? I would like to know your views on the privacy issues that some Internet sites are facing and from reading this whether you now feel unsafe about typing your personal details onto the web or not? Thank you for taking your time to read my blog, please comment below.


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