Hamish McRae (UK)
In the past week, 9 per cent of
Facebook’s American users may have cancelled their accounts over privacy concerns, according to a survey by Creative Strategies. Apparently, 17 per cent have deleted
their Facebook app
from their phone, 11 per cent from other devices, and the 9 per cent have cancelled altogether. We should wait until we get proper data
from the company itself, but the episode raises the possibility that we have hit Peak Facebook. In other words,
have we reached the point that social media fragments cease to play an ever more prominent part in our lives? So what are the things to look for that
will give a feeling for the future shape of social media? Here are my five. Fourth, what is Jack Ma doing?
He has called on Mark Zuckerberg
to “fix” the
privacy issues of Facebook, but I’m more intrigued by what he does, not what he says. And what he is doing with
the Ant Financial Services Group, the Hangzhou-based fintech company that he has spun out of Alibaba,
may give us all a clue to the
new direction of this space.
If Ant goes public later this
year, it could have a valuation of more than $100bn, which could turn out to be larger than Goldman Sachs or its direct rival PayPal. Robin: I am not sure how this
will directly affect Facebook
other than to have a large,
well-financed online company.
You may make more of this
than my current lack of understanding.
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