While lot of us in the tech world are well known with Facebook’s business model, there is a common misunderstanding among people that Facebook gathers information about you and then vends that data to advertisers.
Zuckerberg wants everyone (especially the U.S. Senate) to be aware that is not the case, and has set forth the most easy instance to explain it. During his testimony, the Facebook CEO explained in detail to Senator John Cornyn that Facebook does not leak data.
There is a very common misunderstanding that we leak data to advertisers, and we do not vend data to advertisers. What we permit is for advertisers to tell us who they want to reach and then we do the placement. So, if an advertiser comes to us and tells, ‘Alright, I’m a ski shop and I want to sell skis to women,’ then we might have some sense because people shared skiing related content or stated that they were interested in that. They shared whether they are a woman. And then we can show the ads to the perfect people without that data ever changing hands and going to the advertiser. That is a very main part of how our model works and something that is often misunderstood.
While, again, this may look straightforward to many of us, Zuckerberg found himself having to explain more than once that Facebook does not vend data during his Senate testimony.
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