The Tik Tok Oracle deal still leaves the US exposed to security threats

Chinese social media platform Tik Tok is good at two things: leveraging free content and learning a lot about what their customers like.

They fathom their users content preferences based on  100-300 signals from their users every second and then use that data to present more tailored content.

Tik Tok have successfully entranced 100m consumers in the US in this way.

In does not take a very stable genius to see that the platform wields a huge amount of power in shaping public opinion.

Given that it is a Chinese controlled company, it clearly poses a very real threat to US national security.

And that’s why Oracle’s successful bid to buy Tik Tok is so baffling. The deal essentially makes Oracle Tik Tok’s tech partner  and  means the Algos that run Tik Tok stay in China.

This still leaves the way clear for China to tweak those algorithms to de-stabilise the US by say, disputing an election or questioning the efficacy of a Covid-19 vaccine.

It’s no surprise Microsoft, who lost their bod to buy Tik Tok – pointed out that had they won, they would have made “significant changes” to “combat disinformation “ on the platform.

Oracle have made no such guarantee.

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Initial Coin Offerings have raised more than $23 billion since 2014, as this data viz shows

This visualization does a great job of showing just how crazy and explosive the Initial Coin Offering market has become.

What the hell is an initial coin offering? Everyone is confused. Investors, entrepreneurs, and policymakers across the globe are still trying to figure out what an ICO is, too.

An ICO is a bit like an initial public offering, from which its name derives, it’s also something else entirely new.

The process of creating a new cryptocurrency and then selling it to investors in order to raise money for development work is evolving quickly, thanks to a combination of regulatory pressure and technological innovation.

ICOs have raised huge amounts of cash: more than $23 billion since 2014. An animation put together by the blockchain data analysis firm Elementus, above, shows just how explosive the field has been so far.

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Facebook in crisis – part two

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The social network’s latest controversy looks likely to become a huge legal headache

Facebook suspended Cambridge Analytica (CA) from its network Friday for failing to delete data about 270K people, acquired from an academic study.

The New York Times and the Observer reported that CA actually had data on over 50M people, as social ties of the 270K were tapped without permission.

(Commercial enterprises can use Facebook Custom Audiences and Lookalike Audiences to access Facebook friends of their data lists in a similar way.)

Facebook says it wasn’t a data breach as people knowingly provided the info.

Lawmakers in the US and UK want investigations. The Washington Post says Facebook may’ve breached FTC privacy rules by letting the data escape.

Here are the top three articles on the subject:

  1. How Trump consultants exploited the Facebook data of millions(NYT).
  2. The inside account of what was going inside Cambridge Analytica, from 28-year-old Christopher Wylie (Guardian).
  3. Facebook actually employs a psychologist whose firm sold data to Cambridge Analytics (Guardian).

So far Facebook have responded like this:

  • Its statement Friday is undermined by claims it knew about the issue for two years and threatened to sue to stop The Guardian’s story from being published.
  • Whistleblower Wylie says that Facebook “privately welcomed” his help and then publicly suspended his account, according to his attorney.
  • As for the issues with the product itself, this is a pretty damning thread from TechCrunch’s John Constine. It’s worth a read, offering up a “whole list of times Facebook left the door open to exploitation and abuse.”
  • CNBC highlights the silence from founder Mark Zuckerberg and COO Sheryl Sandberg on the topic.

Britain’s Channel 4 is planning to air footage obtained when its reporters went undercover to speak with Cambridge Analytica founder Alexander Nix and others at the company. The Financial Times reported the data company was trying to stop the broadcast

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Data viz: still hot

Book a course today. Email andy@furthr.co.uk

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Europe is about to try quantitative easing, say experts, before adding, “it’ll be really hard and it won’t work”

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Inflation is low (see chart) so Barclays believe the European Central Bank will try “printing money” to stimulate the economy.

But analyst Michael Pearce said that “the scale of monetary easing is set to be much more timid” than the Bank of Japan’s effort. “Co-ordinating policy between the 18 separate governments and central banks of the euro-zone will be a Sisyphean challenge, even for Super Mario.”

Thanks a lot, experts!

 

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