If you want to understand Facebook's pivot to a private messaging system, think of it as being like email, except that it's all on one centralized platform, and where the platform owners can mine the contents of the email more marketing purposes or whatever. Nothing would happen in public, of course, and targeted FaceMail(tm) advertising campaigns would take place completely under the radar. Journalists concerned about how they will reach their markets should be more concerned about the wider social implications.
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