Social media giant Facebook CEO Mark Zuckerberg told The New York Times he has not seen a “meaningful number of people” deleting their accounts in the scandal of Cambridge Analytica data analytics.
Facebook has been reported as a fraud in The Observer and the Times said London-based firm Cambridge Analytica had improperly gained access to the personal data of more than 50 million users. The hashtag “DeleteFacebook” was so trending on the twitter after the report and multiple news outlets posted instructional guides for users who felt that Facebook hasn’t done enough to protect their personal data.
“I don’t think we’ve seen a meaningful number of people act on that, but, you know, it’s not good,” Zuckerberg told the Times in an interview published Wednesday night. “I think it’s a clear signal that this is a major trust issue for people, and I understand that. And whether people delete their app over it or just don’t feel good about using Facebook, that’s a big issue that I think we have a responsibility to rectify.”
It is still not been revealed that this would be required for Zuckerberg to consider it as “meaningful.” The company reported 2.13 billion monthly active users in its fourth quarter revenue.
Although reaction to the Cambridge Analytica news knocked roughly to be more than $50 billion off Facebook’s market value, Wall Street analysts have weighed in that they think the scandal was overblown.
Macquarie analyst Ben Schachter wrote in a note to investors on the Wednesday evening that Zuckerberg’s comments had “mostly allay[ed] fears that FB itself will propose some of the radical changes that would impact the business model.”
This year is looking so tough for facebook, with reports of Russian manipulation of fake news to sway voters in the year 2016 presidential election which adds to the general tech backlash being felt in Silicon Valley.