WESTPORT, Conn., April 9, 2018 /PRNewswire/ -- Last week's revelation that Facebook may have allowed a political consulting firm to harvest the data of 87 million users was yet another embarrassing moment for the world's best-known social media network. But as HMG Strategy Founder and CEO Hunter Muller points out in a new blog post, the ramifications of Facebook's actions are having a negative and far-reaching impact on the technology industry.
"Like many of my colleagues, I'm frankly concerned that Facebook's bad behavior is eroding the reputation of the tech industry," says Muller who last month published an article regarding Facebook's leadership void in the wake of the Cambridge Analytica scandal. "People I speak with at our conferences and summits tell me they are suspending or deleting their Facebook accounts. Most of the business executives I know were already wary of social media, and the recent string of alarming headlines validates their uneasiness."
As Muller points out in the blog post, organizations that collect consumers' personal data have a moral responsibility to keep it safe and secure. "Every entity that collects, stores, analyzes and distributes our data is responsible for making sure our data is not misused," says Muller. "This is not a new or radical concept. In fact, most companies already practice some form of data stewardship. The truth is that most companies would never allow themselves to be in the position that Facebook finds itself in."
Therein lies the crux of the problem, says Muller. Despite its high profile, Facebook does not represent the tech industry – nor should it. "There are hundreds of thousands of companies in the global tech industry. In many respects, Facebook is an outlier. Its values don't represent the values of the tech industry."
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SOURCE HMG Strategy