Cambridge Analytica Shuts Down Following the Facebook Data Scandal
Remember the “data analysis firm” that wrongfully collected personal information of 87 million Facebook users? Well, they are shutting down.
Cambridge Analytica announced on Wednesday, May 2, that it would terminate operations and declare bankruptcy in the United States and the United Kingdom. This, of course, comes in light of the scandal that occurred back in March in which the firm was put under scrutiny and legal investigation. In their statement, Cambridge Analytica claimed victim; arguing that their closure is due to damage caused by “unfair media coverage”. The audacity…
“Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the Company’s efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas.”
The sleazy company has a lot of Republican ties. In fact, it was funded by conservative donor and Trump supporter, Robert Mercer. Also, Stephen K. Bannon was a part of the firm’s board and oversaw Cambridge Analytica’s early efforts to collect Facebook data. Cambridge Analytica was also forced to let go of former CEO Alexander Nix as he was secretly recorded revealing the company’s dirty business methods such as bribery and the use of sex workers to entrap politicians who they were in opposition of. It is obvious that “unfair media coverage” is not at all responsible for Cambridge Analytica’s push towards insolvency- despite how badly they want people to believe that. However, they are partially right: media coverage did play a major role in their demise.
“The siege of media coverage has driven away virtually all of the Company’s customers and suppliers. As a result, it has been determined that it is no longer viable to continue operating the business.”
Consequently, the shady firm shuts down. Now what? What happens to all the intellectual property (aka the Facebook user’s personal data that is in the hands of Cambridge Analytica)? Also, do we have to worry about them returning in the guise of a different firm? What will stop these corporate giants, including Facebook, from jeopardizing people’s sensitive information and therefore their personal lives?
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