Facebook just had a massive data breach. The culprit? Cambridge Analytica!
Cambridge Analytica, who were consultants for Trump’s campaign, were found to have collected data from 50 million Facebook accounts without permission.
Cambridge then used this information to personalize the newsfeeds of households in critical voting districts with the goal of making them vote for Trump.
Governments in both the US and Europe are now calling for more regulation of tech companies like Facebook with so many users’ data on the line.
This story has already caused Facebook’s stock price to drop 10%. Should you be selling here?
I think yes, and the video above explains why.
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Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.