Are You Facebook’s Customer?
Yes or No?
Have you ever wondered why Facebook is worth almost 70 billion dollars, yet nobody has ever paid a dime to use it? Where does their revenue come from? Why is it free?
The answer to whether or not you are Facebook’s customer is NO. You are not Facebook’s customer. In fact, as Newsweek would put it, you are Facebook’s inventory.
Check out this excerpt from the article, Who Needs Friends Like Facebook?
“The truth is, Zuckerberg needs your data. His business is built upon it. The most important thing to understand about Facebook is that you are not Facebook’s customer, you are its inventory. You are the product Facebook is selling. Facebook’s real customers are advertisers. You, as a Facebook member, are useful only because you can be packaged up and sold to advertisers.”
Your name, your age, your date of birth, your mother’s name, your father’s name, your pets’ names, your kids’ names, your likes, your dislikes, your favorite band, your favorite tv show, your relationship status, your political views, the places you’ve lived, the places you’ve visited — must I go on? All of these personal life details are inventory for Facebook. They collect your data as quickly and comprehensively as possible, because this is where Facebook makes its money.
They create demographics from your information and sell it on a mass-scale to advertisers, market research companies and political organizations (or identity thieves posing as any one of those) so that they can show you specifically tailored ads that are directed right to you.
This kind of insight into who you are may cause you to consider what you allow on your online profile. You are not required to fill in all of the boxes that Facebook makes available to you while giving up information about yourself. In this case, less is more.
Stay posted for more about what to share or not to share on public profiles on Facebook, Twitter, Myspace or anything you have listed online.