Cambridge Analytica Closes Down Following Facebook Data Harvesting Scandal
Ding-dong! The witch is dead. This is the cry being heard
across social media platforms as Cambridge Analytica, the UK-based political
consulting firm embroiled in the Facebook data harvesting scandal, have
announced that they are immediately ceasing all operations and beginning insolvency
proceeding in the UK and US.
The company announced their decision in a press release on May 2nd, throughout which they continued to deny any
wrongdoing.
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“Over the past several months, Cambridge Analytica has been
the subject of numerous unfounded accusations and, despite the Company’s
efforts to correct the record, has been vilified for activities that are not
only legal, but also widely accepted as a standard component of online
advertising in both the political and commercial arenas,” the company stated.
“Despite Cambridge Analytica’s unwavering confidence
that its employees have acted ethically and lawfully, the siege of media
coverage has driven away virtually all of the Company’s customers and suppliers.
As a result, it has been determined that it is no longer viable to
continue operating the business, which left Cambridge Analytica with no
realistic alternative to placing the Company into administration.”
The problem in the eyes of the public is that the scandal
was more about ethics than laws; in fact surely the upcoming overhaul of
regulations under GDPR is evidence enough that current laws are insufficient. While
Cambridge Analytica and their parent company SCL Elections Ltd. May not have
broken any laws they have damaged their reputation irreparably and lost any
measure of trust the public may have granted them. In the wake of all this, the
company’s closure comes as no real surprise.
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Cambridge Analytica Closes Down Following Facebook Data Harvesting Scandal
Reviewed by Unknown
on
Thursday, May 03, 2018
Rating:
Reviewed by Unknown
on
Thursday, May 03, 2018
Rating:
Unknown
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