The fallout from revealing Facebook's true face

The full-page advertisement by Facebook on the back page of British newspaper The Observer has an apology from chief executive Mark Zuckerberg over a "breach of trust", after news broke that the social media company had leaked information on 50 milli
The full-page advertisement by Facebook on the back page of British newspaper The Observer has an apology from chief executive Mark Zuckerberg over a "breach of trust", after news broke that the social media company had leaked information on 50 millions users to data consultant Cambridge Analytica. PHOTO: EPA-EFE
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What is unique about the tech world today, and remains virtually incomprehensible to executives who work outside this sector, is the minimal level of reassurance of the basics its stakeholders have come to accept.

The Internet was once seen as an equaliser that favoured the upstarts to disrupt the established. It did not. Ten per cent of the world's public companies now generate 80 per cent of all profits.

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A version of this article appeared in the print edition of The Straits Times on March 27, 2018, with the headline The fallout from revealing Facebook's true face. Subscribe