Understanding Facebook’s privacy pivot with Greg Kidd at SVOD
From Silicon Valley to Wall Street, change is afoot. Big banks, after years of speculative trading, are de-risking and becoming more boring again while confronting the rising disruptive innovation of fintech encroaching on its turf.
Big tech faces similar headwinds. Perhaps most prominently is the go-to model of “free” apps in exchange for customer information, which is then sold to advertisers. While privacy advocates have long decried this approach without much material success in producing real change, public outrage recently reached a fever pitch with Facebook’s Cambridge Analytica scandal.
Because what we’re realizing is that this is about more than just not having corporates know what websites you browse. It’s about more than the billions lose to data breaches every years and the multitudes of lives ruined from identity theft. It’s about the very social fabric that binds us. And it’s about the very integrity of democracy.
And these realizations are shifting the way consumers, companies, and regulators think about the very nature of privacy and technology.
One man who’s taken notice is none other than Mark Zuckerberg.
For Facebook, this seismic shift in public perception presents Facebook with an existential crisis. It’s being reported that they’ll be fined upwards of $5 billion by the FTC for the Cambridge Analytica mess, but the company made many billions more in just the first quarter of 2019 selling private user information.
But shifting attitudes are often compounded by shifting habits.
It is maybe not all that surprising that Zuckerberg recently announced a dramatic pivot toward a more privacy-centric product approach. (Though, tellingly, with little mention of a complementary business model to support such a fundamental shift in strategy.)
What does it all mean? What does it mean for Facebook? What does it mean for the tech landscape in general, given the company’s leadership in the space? And ultimately, what does it mean for people and society at large?
globaliD co-founder and CEO Greg Kidd will be discussing all of that and more on stage in Mountain View, CA on May 16th at the 15th SVOD or Silicon Valley Open Doors, “a leading technology investment conference that focuses on Impact Through High-Tech Entrepreneurship.”
Last year, the conference drew “2K+ attendees, including over 800 startup founders from all over the world, over 300+ top venture capitalists, angel investors and investor judges, and over 900 professionals working in the technology area.”
The entirety of day 2 of SVOD this year will be focused on the issue of privacy — such is the magnitude of the topic’s importance these days.
You can register for the event here.
And be sure to follow Greg on Twitter.