Why Cambridge Analytica Is Filling Insolvency

Cambridge Analytica and the SCL Group UK based data consulting firm having offices in London, New York City, Arlington, Virginia, and Washington, D.C. Cambridge Analytica, the Political consulting firm has been implicated in major political developments in both the UK and America as well as in India and beyond. Documents made public by whistleblower Christopher Wylie highlighted the “extensive” work conducted by SCL Elections in India, helping parties target audiences based on factors such as caste.


It is at the centre of a storm around misuse of Facebook user data, is shutting down and has filed for bankruptcy. It is true that after the Cambridge Analytica scandal, there are many opted out for signing up for a Facebook account and it is true. The Facebook scandal is creating a new wave of people are deleting their Facebook accounts, and that’s fine. But fundamentally, thanks to network effects, it is hard to quit Facebook. There are some observations also true that many have deleted their facebook accounts from their Smart phones.


Cambridge Analytica, so called scandal is more or less standard practice for every other technology company, including places like Google and even Apple. Facebook simply had the misfortune of getting caught after playing fast and loose with who has control over their data. The testimony gives previously known details about the role of Russian interference on the social network in the build-up to the 2016 US elections, as well as the role UK firm Cambridge Analytica played in harvesting users’ data for political purposes. The company, which was retained by Donald Trump's presidential campaign, has come under tremendous pressure after it was revealed to have obtained data associated with up to 87 million Facebook users, including that of over 5,00,000 Indians . Facebook has informed the government that "only 335 people" in India were directly affected through the installation of an app and another 562,120 people were "potentially affected" as friends of those users. Facebook has over 20 crore users in India.....Read More

Comments

Post a Comment

Popular posts from this blog

N Chandrasekaran appointed chairman of Tata Sons

Image
The board of directors of Tata Sons, at its meeting has unanimously appointed N Chandrasekaran as executive chairman, Tata Sons. N Chandrasekaran shall take charge from February 21, 2017. The board of Tata Sons said, “Chandrasekaran has demonstrated exemplary leadership as the chief executive officer and managing director, Tata Consultancy Services. We believe he will now inspire the entire Tata group to realise its potential acting as leaders in their respective businesses, always in keeping with our value system and ethics and adhering with the practices of the Tata group which have stood it in good stead.” Chandrasekaran was the chief executive officer and managing director of Tata Consultancy Services since 2009. A Tata lifer, he had joined the company in 1987 and was appointed as a director on the board of Tata Sons on October 25, 2016.
Read more

Fake GST invoice scam; 215 people arrested, ₹700 cr recovered

Image
Fake GST invoice scam; 215 people arrested, ₹700 cr recovered:  The   Directorate General of GST Intelligence (DGGI)   has recovered more than ₹700 crore from the arrested 215 people and in the last two months. The individuals who have been arrested for   GST fake invoice frauds   and are fly-by-night operators who fraudulently avail, pass on and utilize input tax credit (ITC) in multi-layered scams. The GST intelligence authorities have also registered over 2,200 cases and have unearthed more than 6,600 fake   GSTIN   entities. “Out of the 215 arrests so far there are 71 masterminds, 81 proprietors, 36 director/managing directors, 15 partners, 3 CEOs, 6 chartered accountants and one each of company secretary, broker, and GST practitioner,” the statement said.   The recent usage of data analytics, data-sharing and AI along with BAFTA tools has helped the agency to detect fraudsters with precise inputs. The DGGI in its statement also said that the arrested include several managing dir
Read more

Visa buys NFT based CryptoPunk and paid $150,000 in Etherium

Image
Visa buys NFT based CryptoPunk and paid $150,000 in Etherium:  Leader in the digital payments   Visa   has purchased a digital CryptoPunk for $150,000, marking the company's first ever   NFT   purchase. The deal is clearly shows that, Visa is stepping into the world of NFTs with its purchase of   CryptoPunk 7610 .   Going forward, NFTs and Visa to align and integrate them in new brand strategy to gain a sizable market share. However, NFTs have often been compared to physical collectible items like rare trading cards and works of art.   The CryptoPunk 7610, which feBlatures a female punk with a mohawk and large green eyes. "We envision there could be a future where your crypto address becomes as important as your mailing address," Visa's Head of Crypto said.   An NFT - which stands for non-fungible token - is a unique digital asset designed to represent ownership of a virtual item. Unlike bitcoin and other cryptocurrencies, NFTs can’t be exchanged like-for-like with an
Read more