In full-page ads, Zuckerberg apologizes for Facebook's failure to protect users' personal data
Zuckerberg's letter points out the steps that Facebook is taking right now. They include:
- Limits on the amount of data that apps get when you sign in using Facebook.
- Stopping apps like the one created by Russian-American Kogan from receiving "so much information."
- Finding out which apps received large amounts of information and banning them.
Facebook also plans to remind you which apps have your permission to mine your information; this way you can rescind your permission and prevent certain apps from obtaining your information.
While some Facebook users have been protesting its actions by deleting the app, investors have been dumping the stock. The latter actually hits Mark Zuckerberg where it hurts the most (in his wallet). From a high of $185.09 on March 16th, Facebook's shares closed at $159.39 this past Friday. That is a one-week decline of 13.9% which erased over $5 billion from Zuckerberg's net worth.
The U.S. newspapers sporting the apology include The New York Times, The Washington Post, and The Wall Street Journal. The full-page ad is also found inside U.K. papers The Observer, The Sunday Times, Mail on Sunday, Sunday Mirror, Sunday Express and Sunday Telegraph.