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Does Facebook Need To Be Regulated?

New regulations are in order

They won't solve anything

 Getty: Win McNamee / Staff

News that Facebook allowed its users’ personal data to be harvested and used by Cambridge Analytica is reflective of an industry that needs heavier regulations, believes Nicholas Economides of Fortune. Big tech companies have too easy access to people’s private information. Combined with too few rules when managing this data, wrong uses are always a risk. Users should have to opt in to share personal information. Particularly sensitive data, such as medical records, must be kept private and not be sold to third parties. Social media companies need to be more transparent with how they manage highly important data.

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Regulation is not the way forward concerning Facebook, infers Liz Peek of The Hill. Limiting this booming industry too much could hamper its growth needlessly. The best solution is to let competitors and consumers change Facebook’s path. American users are already leaving the site, and other communication apps, such as Signal, are offering encrypted messaging. Heavy-handed regulation could choke such small competitors, while giants like Facebook survive. With online security, the fact of the matter is that the internet is not a safe place for sensitive private information. No amount of regulation can prevent that.

Keep on reading at The Hill
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