In what has become a disturbing trend among modern societies today, a small number of technology companies have emerged in a competition for the most comprehensive way to manipulate you, their end user.
They do this through data collection, studying the algorithms of your internet habits. It’s devilishly effective simply because when you are on the internet, alone, you are expressing yourself, for better or worse, at your most natural. The way you browse, shop, and research online is all being culled as data by Google, YouTube, and others, in order to sell that information to advertisers and subsequently pad their pockets.
Social media companies very simply own who you are, and they are selling you out.
Now, it looks as though Facebook is taking the next step altogether in monetizing their user base by asking the nation’s top banks to hand over your personal data.
Facebook, which is trying to deepen user engagement, has asked JPMorgan Chase (JPM.N), Wells Fargo & Co (WFC.N), Citigroup Inc (C.N) and U.S. Bancorp (USB.N) to discuss potential offerings it could host for bank customers on Facebook Messenger, the newspaper reported.
The social media company said it wouldn’t use the bank data for ad-targeting purposes or share it with third parties, the WSJ said.
Of course, after the Cambridge Analytica scandal of just a few months ago, some users will likely be weary of Facebook’s true intention here.
Data, the new currency. They will Make money from it-( companies), and Take money from it.-( tax departments)