Is Facebook Planning To Kill Its Business?

I was just reading through my Feedly when I encountered something which shocked me! Privacy-focused Facebook…OMG!!

Facebook CEO Mark Zuckerberg recently posted a blog which elaborated his “Privacy-focused vision for Facebook”. Zuckerberg, who built World’s largest social networking platform and persuaded users to share moments of their lives and target ads based upon them, is now looking towards a privacy-focused Internet.

Mark’s vision for Facebook was “making the World more open and connected“. He still elaborates the point that Public social networking platforms will continue to be the first choice to connect with acquaintances or even strangers.

But he emphasises that people find Private networking platforms like messengers to be more secure. Primary reason being that people are confident about what they say to each other stays secure and won’t stick around forever. This explains the growing demand for private platforms.

He further elaborates Facebook vision for creating a privacy-focused end-to-end encrypted platform which can be used for sharing anything to anyone. This data won’t be accessible to even Facebook. Facebook also aims to reduce data permanence so that things don’t stick around forever.

Recent privacy scandals at Facebook are the major reasons why Zuck wants its services to shift towards this model. But it will surely affect Facebook’s business model.

How Will It Affect Facebook’s Business?

Actually business at Facebook is centred around collecting data of users, analysing their interests and targeting ads based on this research. You love Selena Gomez or PUBG Mobile or latest Redmi Note 7 Pro, Facebook knows it all.

This helps in targeting only those ads in which potential users will interact. This is the sole revenue model for Facebook. In short, targeting ads based on interests compiled from users’ data. Efficient targeting, more interaction, more revenue.

A Privacy-focused Facebook service will be something where Facebook won’t be able to decrypt your data hence making it secure from any other third party too.

Facebook CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference on May 1, 2018 in San Jose, California. Facebook CEO Mark Zuckerberg delivered the opening keynote to the FB Developer conference that runs through May 2. (Photo by Justin Sullivan/Getty Images)

According to research, most users share their daily updates on public platforms to make only few people aware about it. Mostly its their close friends or family members. But Facebook publicizes almost every piece of information. Changing privacy settings everytime is not a good idea. That’s why more and more users are shifting towards such private platforms.

In such a case, FB may soon lose out on its Public social network primarily Facebook & Instagram. People will be less interested in sharing what they are doing or feeling and this will result in lesser public interaction. Instead, Messenger and Chat-Groups will become more popular. This will reduce the data-flow to Facebook services and affect its ad-targeting technique. Inefficient targeting, lesser interaction, lesser revenue.

Privacy & Business

Privacy has been the sole reason why WhatsApp being a global messaging platform is unable to execute a great business model. Lately, Facebook has been testing WhatsApp for Business which may generate revenue in future.

In such a case, charging users for the service is one of the options but Zuckerberg has promised that all FB services will be kept free to everyone. I am sure that Zuck & Team will find a way to create a privacy-focused Facebook with sustainable business model. Let’s hope for the best.

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