Daily News Roundup – April 9, 2018

Facebook Makes A Lot Of Money Of You As A User

There is no such thing as a Free Lunch. Therefore, there is no such thing as Free Facebook. The User might not pay with money for using the social media network, but Facebook is getting paid by advertisers who in turn make money from users. The actual revenue numbers are shocking as they come in close to $85 per user for US and Canada. That means Facebook is cashing in every time you click on an ad, or sponsored content. $85 to some does not seem much, but Facebook said it has 184 million active monthly users in North America, with 2 billion monthly active users globally.  US users are worth the most, with European users coming in second at about $27 a year. Overall, Facebook generated $40.65 billion in revenue in 2017.

Users are upset since finding out that their data has been acquired and used illegally and demand more transparency and privacy. However, Sheryl Sandberg, COO of Facebook, has said in a statement that users are expected to pay for privacy. This might back fire as more and more users are deleting their profiles. To Facebook’s defense, Sandberg states that “We are not sweeping up data. People are inputting data. People are sharing data with Facebook.” Her and Mark Zuckerberg have both apologized for not taking user data’s privacy more seriously. They are under investigation by the FCC and Zuckerberg will speak in Congress this week.