To FB or not To FB

My goal is not to convince you to drop your Facebook account, but to encourage you to make informed decisions when using this social network extensively. Everything we do has an impact on us, on those around us and the world in general. This article deals more with how the Facebook ecosystem affects my peace of mind and possibly yours. I strongly believe that Facebook can be used for the good, the bad and the ugly and the responsibility rests with each user (aka me) for abiding by or for violating the user agreement. Let’s take a look however at how FB might be using its users at the same time, in which case the responsibility rests with both Facebook AND the user (aka me) since we digitally signed the user agreement.

But enough chitchat.

Here is my top 5 list for mostly ignoring my Facebook account:
5. When I enter personal information about myself or my friends, Facebook gets it too and stores it in data warehouses. It should at least add itself to the “friends” lists so folks know FB has access and co-ownership to everything.
4. One will argue successfully that making money out of leveraging personal information is Facebook’s legal right. There is however a big question mark on their leadership’s ethics as FB secretly financed an anti-Google smear campaign on that very topic (you can start your research here – http://goo.gl/3itFo) . Facebook is too new and innovative of a company to use such defensive tactics, so let’s hope that being exposed this time is a lesson they will take to heart.
3. The “Like” button, geo-location, face recognition etc. are just clever ways to gather precise behavioral data, which FB can compile and sell. Good news is that your profile won’t be sold cheaply. It’s not personal, just business, so do not fall into the trap that someone wants to mess with your identity and inner thoughts. However, be aware of the probability your Facebook use will get you attached to brands that provide “just right” offers based on your likes, recent behavior, favorite colors & styles, social status etc. on top of the oh-so-prerequisite demographics data.
2. Yuri Milner and Goldman Sachs are the main drivers of Facebook $70Bn+ valuation. Mr. Milner’s company, Digital Sky Technologies of Russia, owns a piece of many up-and-coming tech companies (such as Twitter, Zynga, Groupon, ZocDoc etc) driving up perceived pre-IPO value with smartly publicized investments. Goldman Sachs on the other hand were instrumental in the creation of the toxic asset investment vehicles that caused the 2008 financial markets crash and now seem intent on creating and profiting from another bubble. In my personal opinion, an artificial bubble is nothing more than a legal Ponzi scheme and I do not really want to be one of its foot soldiers. But don’t just believe me, go and do some research of your own and see what you find.
1. The overall design and business model of FB (user interface, security settings etc) tends to turn real relationships into gossip and public listings. My friends are real people, most of them pretty awesome, and I value each individual relationship. I’d rather live the reality with them than talk about it on my personalized soap box.