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【Facebook's New Privacy-Focused Vision】
The future of facebook is in private, end-to-end encrypted messaging platforms like WhatsApp, Messenger, and even Instagram (Direct), according to Zuckerberg's personal post two weeks ago.
Given the incessant recurrence of high-profile data breaches over the last few years, including but not limited to Cambridge Analytica, Uber, Equifax, Quora, and Marriott, it comes as no surprise that facebook would publicly launch a crusade in support of increased data privacy. This also comes right at the heels of EU's beefed up General Data Protection Regulation (GDPR) announced last year.
That said, a "privacy-focused vision for social networking" could potentially change the very essence of what facebook's 2B+ users have become accustomed to, as a greater emphasis on private messaging puts the future of facebook's all-too-familiar news feed into question--at first glance at least.
If facebook is shifting in this direction, it's likely because the data tells them to. Although the primary revenue generator and appeal for targeted advertisers, news feed has become an increasingly topical forum for sharing photos and videos, but little engagement. Messaging platforms on the other hand may be where true conscious, fully present interactions are happening--a holy grail for companies looking to maximize the ROI of their fb marketing budgets.
Only time will tell how facebook will go adapting its business model around a privacy-focused social network, but it'll likely send shockwaves across industries, while also unlocking new opportunities (and challenges) for startups and businesses alike in the coming years.
-Jun Wakabayashi
Analyst, AppWorks
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