Loss Of Trust Of The People From Social Media In General After The Facebook Scandal

After losing its trust from its user base over the infamous Cambridge Analytica scandal where millions of accounts’ worth of data was illegally leaked, Facebook still struggles to gain back even a part of it. Not only this, but the biggest market cap loss in a single day was also recorded following this immense data robbery, the company has not yet recovered in terms of market price either.

This needs to be addressed with, and soon. If Facebook fails to recover its previous position in terms of the trust of the people, it could end up crumbling down as its entire model is based on people sharing their personal details in elaboration on the platform.

In a survey, conducted recently by Hub Entertainment Research, the people who no longer trust the company with their private details makes up an astounding number of 49%.

But this is not only limited to Facebook only. People are now reluctant with other companies as well when it comes to sharing their information online after the Cambridge Analytica scandal surrounding Facebook. People now see other companies with skepticism when it comes to the protection of their information.

However, the majority still opts to trust the company as 55% people still maintain their accounts like they used to prior to this digital tragedy. 20%, however, have made their security more thorough and the people who completely gave up on the site are just 8 percent.

Infographic of the day: Facebook Scandal Erodes Trust in Social Media Companies

H/T: Statista.
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