Has Facebook Peaked?
November 30, 2011
Buried in another insightful Wall Street Journal piece on Facebook's privacy travails, The Journal today reports:
Still, some Facebook users doubt the settlement will change Facebook's behavior. "How can it possibly result in a change?" said Steven Greer, a New York who runs an online health-care information service. "The very fundamental business model of Facebook is to collect information about you and use it to sell ads."
Mr. Greer said he deleted his Facebook page a few weeks ago when the company asked him for his cellphone number to verify his account, because he doesn't trust it with his data.
Our guess is that Facebook, as it approaches its IPO, is one or two scandals away from a mass exodus.
Read more of The Wall Street Journal's Facebook 'Unfair' on Privacy