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AGENCY HOMING IN ON SOCIAL MEDIA COMPANIES' DATA COLLECTION
Techlife News
|Techlife News #477
Federal regulators are ordering Facebook, Twitter, Amazon, TikTok’s parent and five other social media companies to provide detailed information on how they collect and use consumers’ personal data and how their practices affect children and teens.
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The Federal Trade Commission’s action announced Monday goes to the heart of the tech industry’s lucrative business model: harvesting data from platform users and making it available to online advertisers so they can pinpoint specific consumers to target.
The agency plans to use the information, due in 45 days, for a comprehensive study.
The other five companies are Reddit, Snap, Discord, WhatsApp, which is owned by Facebook, and Google’s YouTube.
Regulators and lawmakers are increasingly weaving their concerns over data power and privacy into their investigations of Big Tech companies’ market dominance.
This story is from the Techlife News #477 edition of Techlife News.
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