Get subscribed to our newsletter
Get interesting updates to your email inbox.
U.S. lawmakers on Tuesday demanded better personal data protection at Facebook, whose CEO, Mark Zuckerberg, weathered heated questions from two Senate panels over data breaches affecting tens of millions of users of the mammoth social media platform.
“There was clearly a breach of consumer trust and a likely improper transfer of data,” said Judiciary Committee Chairman Chuck Grassley, an Iowa Republican.
“If you and other social media companies do not get your act in order, none of us are going to have any privacy,” the top Democrat on the Commerce Committee, Bill Nelson of Florida, said. “If Facebook and other online companies will not or cannot stop the privacy invasions, then we are going to have to — we, the Congress.”
Zuckerberg was called to testify after news emerged that the personal data of millions of Facebook users had been harvested without their knowledge by Cambridge Analytica, a British voter-profiling company that President Donald Trump’s campaign hired to target likely supporters in 2016.
Zuckerberg repeatedly has apologized and promised to make amends, and did so again on Capitol Hill. The social media mogul spoke with pride about Facebook’s ability to connect people for the common good, but he admitted the company had not been proactive in safeguarding its users from misuse of data or those sowing malign messages.
“It was my mistake, and I’m sorry,” Zuckerberg said. “I started Facebook, I run it. And I’m responsible for what happens here.”
Also Read: Jack Ma asks Zuckerberg to ‘fix’ Facebook
Earlier this week, Facebook began notifying 87 million users, most of them in the United States, whose personal data might have been mined by Cambridge Analytica.
Zuckerberg pledged that Facebook would scrutinize and, when necessary, block other firms from gaining access to the platform and empower its 2.2 billion users to wall off their apps from third parties.
Senators also sought assurances that Facebook and other social media platforms are blocking fake profiles originating in Russia that spread divisive messages to sow discord during and after the 2016 U.S. election.
“We will be verifying the identity of any advertiser who’s running a political ad,” Zuckerberg said. “And we’re also going to do that for pages … that will make it significantly harder for Russian interference efforts or other inauthentic efforts to spread misinformation through the network.”
Vermont Democratic Sen. Patrick Leahy noted that misuse of Facebook extends far beyond the United States, saying that Facebook has been used to spread hate speech against Burma’s Rohingya minority.
“Recently U.N. investigators blamed Facebook for playing a role in inciting possible genocide in Myanmar, and there has been genocide there,” Leahy said.
“We’re working on this,” Zuckerberg responded. “We’re hiring dozens of more Burmese language content reviewers. Because hate speech is very language-specific, it’s hard to [detect] it without people who speak the local language, and we need to ramp up our effort there dramatically.”
Until now, social media companies have been largely self-regulating. Several senators said Congress must consider steps to protect users of the platforms.
“What do we tell our constituents, given what’s happened here, why we should let you self-regulate?” South Carolina Republican Lindsey Graham asked.
“My position is not that there should be no regulation,” Zuckerberg said. “I think the real question, as the internet becomes more important in people’s lives, is: What is the right regulation?”
The Facebook CEO promised to submit proposals for regulating social media companies and work with lawmakers to craft legislation.
Facebook faces a backlash from some consumer groups. Members of #DeleteFacebook gathered outside Tuesday’s hearing on Capitol Hill.
“We knew that they had your data, but the extent of what is being breached is a concern for me. What do they know about my children and my grandchildren?” said a woman who identified herself as Alison.
Zuckerberg is to testify before a House panel Wednesday.
Lawmakers pledged to hold separate hearings focusing on Cambridge Analytica in the near future. VOA
The 'Millennial Mood Index 2021' (MMI) was released by CASHe, India's AI-driven financial wellness platform with a mission to make financial inclusion possible for all. According to the survey, more than 84 per cent of millennials across the country have increased their wealth-management strategy to prepare for future contingencies while also looking for opportunities for stronger and more sustainable growth in the post-pandemic world. The pan-India survey, conducted among more than 30k customers on CASHe's platform, aimed to capture the impact of the Covid-19 pandemic and how it has altered millennials' everyday behaviour across a variety of topics such as health, travel, shopping, savings & credit appetite, and so on.
While the majority of millennials have become more cautious about their finances as a result of the pandemic, the report also highlighted the cohort's progress in saving and insurance awareness. While 52 per cent of respondents said they have increased their savings, 35 per cent have purchased comprehensive health and life insurance plans, and the remaining 13 per cent have committed to more extensive investment programmes.
The pan-India survey was conducted by CASHe among more than 30k customers. | Pixabay
The pandemic, combined with the 'work from home' culture, has also raised health awareness among Indian millennials. According to the MMI report, more than 71 per cent of millennials have become more health conscious as a result of the pandemic. In their quest for a healthier life, a sizable portion of the cohort has adopted new lifestyle changes. 54 percent of respondents said they now prefer eating home-cooked healthy food, and 28 percent have adapted to daily walks or some form of exercise. 11 per cent of respondents said they had started practicing yoga and meditation, while the remaining 7 per cent had signed up for a nearby gym.
When asked if they eat out at restaurants, more than 52 per cent said that even if they eat outside, they would prefer restaurants that adhere to health, safety, and social distancing norms. 22 per cent have become accustomed to ordering food online and prefer doing so because they can do so from the comfort of their own home while adhering to the necessary safety standards. Whereas 26 per cent of respondents remain cautious and avoid eating outside at all costs.
Following nearly two years of uncertainty and a travel ban, the report revealed a huge pent-up demand among millennials for a getaway vacation. More than 56 percent of those polled said they intend to take a vacation early this year, once the current surge in Covid-19 cases subsides. In terms of travel destination preferences, 71 per cent said they were going somewhere domestic, 9 per cent said they were going somewhere international, and 20 percent said they hadn't decided yet.
28 percent have adapted to daily walks or some form of exercise. | Unsplash
The report stated that 38 per cent of respondents have permanently shifted to shopping online as they now prefer it, demonstrating a clear shift in millennial shopping behavior altered by the pandemic. While 17 per cent preferred physical shopping, 45 per cent preferred a combination of the two depending on what they wanted to buy.
When asked about returning to work in the post-pandemic order, 68 per cent of respondents said they are eager to return to the physical world and work from their offices. While 15 percent preferred to continue working from home (WFH), the remaining 17 per cent preferred a hybrid model of functioning that included visiting the office once or twice a week.
V Raman Kumar, Founder Chairman, CASHe said, "The Covid-19 pandemic has radically altered our everyday behavior, perhaps forever. However despite the challenges and economic upheavals witnessed in the last two years, millennials have proven themselves as the most resilient generation. Millennials who also represent the country's largest workforce have showcased the grit and resolve to bounce back and kick-start the economy. Their unwavering "can do" spirit is what has put them at the global centre stage while showcasing India as the largest millennial market to lure in brands across the globe. They are not just aspirational, but are a very responsible cohort seeking to reimagine old orders. Millennials have the potential to redefine India's investment & consumption story, which will play a critical role in shaping our country's economy in the post-pandemic era."
Millennials will play a critical role in shaping our country's economy in the post-pandemic era. | Unsplash
The pan-India survey was conducted by CASHe among more than 30k customers. More than 65 per cent of the responses were received from the metro markets of Mumbai, Delhi, Kolkata, Hyderabad, Bangalore, Ahmedabad, Pune and Chennai while the rest 35% were received from other tier-II and III towns. (IANS/SP)
(Keywords : millennial, mood, index, survey, country, India, finance, pandemic, investment, health, lifestyle, vacation, challenges, resilient, generation, customers.)
- Irregular Sleep Schedule Can Increase A Person's Risk Of ... ›
- Can We 'Catch' the Moods and Emotions of our Friends like ... ›
A renowned Harvard Business School professor delivers a persuasive reconsideration and defence of purpose as a management ethos, demonstrating the enormous performance advantages and societal benefits that can be realised when businesses get their purpose right.
Too many businesses use purpose, or a reason for existing, as a marketing tool to make themselves feel good and appear good to the public.
Some people have only hazy notions of what purpose is, conflating it with strategy and other concepts like as "goal," "vision," and "values." Even the most well-intentioned leaders are unaware of the full power of purpose and interact with it only half-heartedly and superficially. Outsiders see this and become sceptical about businesses and the capitalist enterprise as a whole.
Ranjay Gulati shows the catastrophic blunders leaders unintentionally make while seeking to create a purpose for being, based on significant field study. Furthermore, he demonstrates how businesses might further incorporate purpose than they now do, resulting in tremendous performance gains for consumers, suppliers, workers, shareholders, and communities alike.
Also read: Underrated Business Tips And Tricks by Eric
Organizations are being updated to create more autonomy and cooperation, allowing individual employees to work more meaningfully.
* Creating a community of inspired and committed stakeholders by employing strong narrative to express a purpose for being, arouse emotions, and develop a community of inspired and committed stakeholders; and
* Creating cultures that not only promote purpose, but also allow people to connect the company's mission to their own personal motivations.
As Gulati says, a stronger connection to purpose is the key not only to individual firms' success, but also to humanity's destiny. Purpose may serve as a completely new operating system for the organisation, boosting performance while also bringing real benefits to society, especially in light of capitalism's undermining and low levels of confidence in business.
(keywords: hi-performance companies, catastrophic blunders, "goal," "vision," and "values)
In India, on January 26, 2022, thousands of youngsters set fire to empty train carriages. They disrupted rail traffic in order to protest what they claim are irregularities in recruiting by the railway department, which is one of the world's major employers. (VOA/ MBI)
(Keywords: India, recruitment, bihar, train, burnt, job, employers, railway)