1:06 - The Story of Cambridge Analytica and Facebook
4:44 - The First Violation
5:52 - The Value Proposition of FB: You Cant Opt Out
7:07 - The Rise of Social Media Data Gathering
10:19 - The Impact on Restaurants
11:25 - Foodable Labs Analyzes Facebook Engagement
15:18 - Can Facebook bounce back?
17:20 - Chief Security Officer Alex Stamos
20:17 - Facebook Social Restaurant Visits DOWN 17%
21:47 - Foodable Plus: 10 Tips for Preparing for the Mass Exodus of Facebook
Facebook has been dominating news headlines this week and for good reason. CEO Mark Zuckerberg has been testifying to Congress on the topics of data security and how the social media giant has been trying to improve.
There’s a lot to consider here: How did this impact the election? Is my data safe? Is it finally time to get off the grid?
But before we take drastic measures, take a minute to join Paul Barron for a thought-provoking discussion about what happened and how this scandal may be affecting your restaurant. Didn’t think about that? No worries, we’ll cover everything from how users are engaging with your FB content to how this data debacle is impacting your restaurant sales.
This is where our story begins. Cambridge Analytica hired a professor to create a Facebook app that collected user data. You’ve seen those fun but useless personality quiz apps on Facebook, right? Right. Users who authorized this app gave the app access to their data like their "Likes". But not just their own data, the data of their entire friend network. This feature was removed in 2014 but the damage was already done.
The important thing to note here is that, up to this point, Cambridge Analytica hadn’t done anything wrong. This was completely legal and in line with Facebook's guidelines in 2014. But when the professor sold the data to Cambridge Analytica, that’s when they violated the Facebook user agreement, which prohibited the sale of Facebook data to third party companies. Facebook removed the professor’s app and demanded that he and all third parties immediately destroy the data but up until now it is believed that Cambridge Analytica still has some or all of the data.
The Impact on Restaurants
Now people across the globe are understandably upset. There are a number of arguments to be made. But what does all this commotion mean for the restaurant industry? Well, as Paul explains, Facebook engagement is down meaning you’ll be having a harder time connecting with your audience using the platform. Social Restaurant Visits through FB are also down.
So, is it time to jump off the Facebook bandwagon? Listen in and find out!
And after you listen to this podcast, join us on Foodable Plus for 10 Tips to Prepare You for the Mass Exodus of Facebook.Read More