Facebook Users Can Claim Their Share Of $725 Million Settlement
The main reason giants like Meta were able to accumulate tens of billions of dollars over the years and continue to do so is because of its users and their data. User data is their gold mine. At the same time, Meta and similar tech giants don't give anything back to their users. As a result of years-long litigation over Facebook's illegal selling of user data to Cambridge Analytica, FB users now are entitled for the share of $775 million class action settlement.
While 87 million accounts' personal data was harvested by Cambridge Analytica, it is not clear if only these accounts qualify for the settlement. However, it seems FB users who maintained an account between May 2007 and December 2022 can submit a claim for their share of the settlement. The final amount users will receive will depend on how many users will end up submitting claims. To submit your claim visit facebookuserprivacysettlement.com.
I am not a FB user, and I don't have a claim to make. I prefer decentralized solutions. However, I am not against people using centralized platforms. Some are indeed useful and offer great services. I don't think Facebook is one of them. Yes, many use FB on daily basis and maybe even as primary social networking platform. It is good news a wrong was righted by the settlement and FB users can get something back and hope their privacy and data will be respected and protected in the future. Given that the entire business model of FB is developed around user data, I doubt anything will stop them to continue maximizing profits at the users' expense. Of course such platform need to maintain great user experience, and won't shy away from spending money on making sure users have great experience and continue clicking buttons.
Selling user data to CA by FB is only one instance of how they make money and have zero respect for users. I wouldn't be surprised if FB was involved and many similar dealings in the past. While these kind of behavior might be illegal, the continue making billions by legally monetizing users activities on their platform with ads. Many still use the platform, maybe there is no issue here. Maybe if FB and alike had models in place that would share the ads revenue with their users, it would be fair. Users give away their data for free anyway, and giants like FB wouldn't voluntarily give away any shares of massive profits that rely on user activity.
Ads are not the only reason I dislike FB. There are many more. But the primary reason is that I find decentralized solutions to be more beneficial to all parties involved. Within the similar timeframe that makes FB users qualify for the settlement, Hive participants would have built social and financial equity of much higher value. It will not be easy for people to break habits and embrace decentralized networks initially. The process will require time and may be the slow one. But eventually, people will realize one by one how centralized networks like FB offer no real benefits to its users, and decentralized networks like Hive can be a better alternative.
Open source technologies and open networks don't have the funding giants like FB have. Most of development is done on voluntary basis. It is those who are truly believe in the benefits of decentralized solutions and with altruistic character become pioneers in the space and pave the way for masses to follow. The journey is a long, but a fun one. That said, Hive is not a Facebook replacement. Hive is multipurpose blockchain that can power many different kinds of web3 implementations. Hive.blog, Ecency, LeoFinance, peakD, etc are one some of the implementations for content creation and sharing. However, none of them provide privacy features. All content is public by default.
I hope to see one day, a web3 applications that integrates privacy features. The blockchain itself is capable of privacy, it is for creative developers to figure out the implementations. For example all data initially can be stored in encrypted form on the blockchain using custom_json feature. Then account owners would set the permissions which app can display their content, which accounts can view the content, etc. The main blogging feature of Hive relies on global rewards system that come from Hive inflation. Because of this it makes sense to keep all content public. But not all apps rely on global rewards system, and they don't need to. Games and tribes already implement their own rewards systems. Many more creative system will emerge. I hope one of them will integrate privacy features as well.
Congratulations FB users! Don't forget to claim your shares. The deadline to claim is August 25, 2023. I wonder how much of this settlement will make its way into crypto and web3. Let me know your thoughts in the comments.
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This is the reverse of the medal, and how stupid it is that users get nothing in return, but they make millions on them.
Nice post. I think the introduction of a privacy mechanism, as you describe in the last part of your post, could really bring a lot of value and also change the use of Hive, expanding the user base.
Once more the claim, it is only possible to do submit a claim.
I wonder why when these kinds of things are judge always it is only for US residents
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Yeah, I was thinking the same...that's shitty...as well as the idea that only some countries can monetise on certain platforms...that's why so-said decentralised spaces are better...but I would still say there is a huge lack of monetising on Web 3 as well...and yet, no luck for poor people...when people with money usually give in to other people with money...such a shitty shit...
The monetization on web3 it is using users own funds. we don't have any really decentralized project with ads or other things because that will be a centralized point.
About people with money giving to other people with money, that is not 100% true.
I can talk taking consideration myself.
I started here with 0 investment, and now I have something. If I will be rich here? Of course not, but I am winning more than in Web2.
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In my opinion, centralization is an illusion; even in Web 3, there is always a certain interest for some people to take more advantage and others to only scratch the surface.
I don't say it is 100% true, but people having power here (and not only) vote for their family and friends mostly irrespective of content or other criteria.
I'm not saying Hive is bad. Even their standards do not suggest that people would be here to get rich. Still, that doesn't mean one can't observe how things are going.
It’ll be interesting to see how much money fb users who make a claim will get. Sites like that were great when they first popped up but it’s such a strange concept to share details and images of your life and get nothing back. I had a FB account for maybe ten years but then just took my favorite pics and clips and closed my account. I also wonder how all that MySpace/Xanga data was used, if it ever was. Maybe they took all that personal information and made the moral decision to not do anything nefarious with it.
Thanks for the info.
Will definitely look into it :)
It's so sad to see this tech industries take advantage of their users. Why would a social platform sell customer data's that ought to be private, this is very bad and it's against Tech users/consumers rule.
Just because FB and others are popular doesn't me that we don't have other options.
We are patiently waiting for a web3 social media applications, where users will feel safe and can earn money freely.
In conclusion, thanks to hive.blog for this great platform, at least our datas are safe.
I see it as just business especially as now there is an alternative and people aren’t forced to be on fb. Anyone on web2 now is out of choice.
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I recently heard this that Facebook will begin to pay the Oldies who have been in the system for for years but I never believe this. That wasn't first agreed on and I don't know much about this. So, what is it going to be the criteria or requirements before FB users can claim their benefits? That is a story I am yet to know. Thanks so much for this informative update!
I wasn't able to make a claim as I'm not a US citizen, booooooooo!!!
I wasn’t sure if it was only for US citizens. Since I don’t use FB, I didn’t even try submit a claim.
https://twitter.com/3306350730/status/1650667021812527104
https://twitter.com/1415155663131402240/status/1650686866210050049
https://twitter.com/38336946/status/1650734801828347904
https://twitter.com/1240644249927860225/status/1650787543238193152
https://twitter.com/1456718443789447170/status/1650835312501837824
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Its good that users can claim some money back. After all its the users money that they're profiting from !
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It's great that you are sharing information about the Facebook user privacy settlement and encouraging users to claim their share. Your perspective on decentralized solutions is also valuable and it's important to promote the benefits of open source technologies and open networks. Keep up the good work in advocating for privacy and promoting alternatives to centralized platforms.
Yup, you've predicted it right, young man chu.
It's sad that the majority of Facebook users are outside USA. Virtually unknowing how much their data is used and profited from.
Regardless, it's still a step in the right direction that this rampant theft of data by fb is finally addressed. If you're in the US you should take this opportunity as soon as you can as the deadlines will range from July 26 as the earliest and September 7 as the final approval hearing. Good luck!
This settlement was only for US citizens and residents.
The #cryptoclassaction will have a more global eligibility for settlement funds.
Awesome. I hope they add 🇨🇦
I wasn’t sure if it was only for US citizens and residents. Thanks for clarification.
Can they pay me in HBD? Yes, please.
lol. USD can be converted to HBD.
I haven't used Facebook in a long time and I probably wouldn't get much anyways. I wonder if it will include all those fake accounts that people have made.
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That’s a good point. There probably will be those who claim from multiple accounts, unless the ask for some sort identification.
https://leofinance.io/threads/@peniel2010/re-leothreads-5k1dok
https://leofinance.io/threads/@samueluche07/re-leothreads-34pjri
https://leofinance.io/threads/@mazilicious247/re-leothreads-3bfgm9oik
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Restrictions base on residence permit ,how I wish it was an open affair, but is good to know
Stopped being a FB user a while ago, but either way, my account was created a few years ago after 2007 so don't know how the claim thing works. It's an interesting thing tho
You can claim for years between 2007 and 2022 … in US.
Oh, I've made a mistake there. For some reason I thought only the accounts created in 2007 are eligible..thanks for clarifying that! I appreciate it!
Also Needs to be in USA 🇺🇸 though …
Yes, seen that. :)
97.5% of Facebook's revenue in 2022 came from advertising, not selling user data. https://www.oberlo.com/statistics/facebook-ad-revenue
And Facebook didn't sell user data to Cambridge Analytica. CA acquired that data using an app to mine the data for use in political campaigns. https://www.amnesty.org/en/latest/news/2019/07/the-great-hack-facebook-cambridge-analytica/
Still, this is a good article, and thanks for the heads up on the Facebook settlement.
Selling of users data is indeed disrespect. Just like you, I prefer web3. I have a Facebook account but I am not so active just like before. And I only use it as a form of communication through messenger since most of my friends are there. And apart from this, toxicity is spreading there everywhere, the main reason I rarely use it. This content is so informative. I did not know about this. Many thanks for sharing. Blessings to you my dear friend.
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Awesome … I hope they add Canada. 🇨🇦 …Although I was in the US 🇺🇸 for a few of those years. I’ll submit something and see how it goes.
Good luck!
This is a great information shared
Thanks.
I suppose that Instagram users get a cut too as a part of Meta/facebook.
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I don’t know, can they?
I will truly love to know and be part of it.
I will truly love to know and be part of it.
Yeah, I left FB about 8 years ago... couldn't be bothered. I will be keen to see how this plays out for users though.
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"US Facebook Users" should be included in your article's title.
"If you were a Facebook user in the United States ...." this is what their rules state.
I didn’t know it was only for US when I wrote the post.
Claim filed, a couple of weeks back. We'll see what happens; had a Facebook account for the entire subject period. I expect people will probably end up with $10 checks... perhaps reflective of the truth that our personal data really doesn't have nearly as much "value" as people think.
We are extremely blessed to have places like Hive and LeoFinance because — by conventional measures — web content is actually values at a tiny fraction of what most posts here earn.
=^..^=
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Seems claim not available for India users :(
When I first saw it, I thought it was for all FB users. And then I doubled checked if it was not fake news. After confirming that it is legit, I mentioned it to my friends who might have friends and relatives in the US.