From: The Street
More restrictions on Facebook’s gathering and usage of user data could challenge the tech giant’s very business model.
More regulation may finally be coming for U.S. tech giants such as Facebook Inc. (FB – Get Report) and if it does, it could come at a steep cost.
The social media giant has been plagued with privacy and transparency concerns this week after reports that it allowed political data analytics firm Cambridge Analytica LLC to harvest the data of more than 50 million users without proper disclosures or permissions. CEO Mark Zuckerberg said in an interview on CNN Wednesday night that he is open to regulation in light of the most recent data breach scandal.
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