The Most Revolutionary Concept In Education PLANMAN CHE CENTRE FOR HIGHER EDUCATION, Supported by IIPM India’s Leading B-School
Bill Gates had once said: “The Internet will help achieve ‘friction free capitalism’ by putting buyer and seller in direct contact & providing more information to both about each other.” He was wrong, and Facebook (where the company he founded, Microsoft, bought a 1.5% stake at a whopping $240 million) proved him so! ‘More information’; but that special power has only been granted to the ‘seller’ for now...
Today, Facebook is doubling its base of users every month (as per Fortune), and while this may sound great to all at the company, this very swelling base (which is currently estimated to touch about 175 million) might just revolt in the latest development at the networking giant! And what’s the crime? Privacy! Apparently, Facebook intends to capitalise on the wealth of information it has about its users. On February 4, 2009, Facebook changed its ‘Terms of Services’ announcing its self-proclaimed proprietorship on ‘your total account content’, even if you deactivate/delete your currently existent Facebook account. And this is how the new policy reads: “You may remove your User Content from the Site at any time. If you choose to remove your User Content, the license granted above will automatically expire, however you acknowledge that the Company may retain archived copies of your User Content; ” not really great news for Facebook fans arond the world!
Very clearly activists around the world are interpreting that the changes in ‘terms and conditions’ means that the ‘change’ means that “anything you upload on Facebook can be used by Facebook in anyway it deems fit; forever, no matter what you do later...” There’s more – Facebook also reserves the right of user content usage for ‘promotional reasons’. As per Facebook: “By posting User Content to any part of the Site, you automatically grant... to the Company an irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license (with the right to sublicense) to use, copy, publicly perform, publicly display, reformat, translate, excerpt and distribute such User Content for any purpose, commercial, advertising, or otherwise, on or in connection with the Site or the promotion thereof, to prepare derivative works of, or incorporate into other works...”
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Source : IIPM Editorial, 2009
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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