Posts Tagged ‘SocialNetworks’


>

Today it’s Facebook.  

” … Over the years, hundreds of thousands of applications may have inadvertently leaked millions of access tokens to third parties,”

  Symantec had to get them to come out and tell you…


And yet it amazes people continue to put things online that they wouldn’t want the whole world to see…

Story from Reuters below:

Facebook may have leaked your personal information: Symantec

Photo
12:46am EDT
(Reuters) – Facebook users’ personal information could have been accidentally leaked to third parties, in particular advertisers, over the past few years, Symantec Corp said in its official blog.
Third-parties would have had access to personal information such as profiles, photographs and chat, and could have had the ability to post messages, the security software maker said.
“We estimate that as of April 2011, close to 100,000 applications were enabling this leakage,” the blog post said.
” … Over the years, hundreds of thousands of applications may have inadvertently leaked millions of access tokens to third parties,” posing a security threat, the blog post said.
The third-parties may not have realized their ability to access the information, it said.
Facebook, the world’s largest social networking website, was notified of this issue and confirmed the leakage, the blog post said.
It said Facebook has taken steps to resolve the issue.
“Unfortunately, their (Symantec’s) resulting report has a few inaccuracies. Specifically, we have conducted a thorough investigation which revealed no evidence of this issue resulting in a user’s private information being shared with unauthorized third parties,” Facebook spokeswoman Malorie Lucich said in a statement.
Lucich said the report also ignores the contractual obligations of advertisers and developers which prohibit them from obtaining or sharing user information in a way that “violates our policies.”
She also confirmed that the company removed the outdated API (Application Programing Interface) referred to in Symantec’s report.
Facebook has more than 500 million users and is challenging Google Inc and Yahoo Inc for users’ time online and for advertising dollars.
(Reporting by Thyagaraju Adinarayan and Sakthi Prasad in Bangalore; Editing by Bernard Orrand Anshuman Daga)
© Thomson Reuters 2011. All rights reserved.

Facebook may have leaked your personal information: Symantec | Reuters

Sharevar addthis_config = { ui_cobrand: “The MasterFeeds”}

The MasterFeeds


>Facebook Loses Much Face In Secret Smear On Google
Facebook secretly hired a PR firm to plant negative stories about Google, says Dan Lyons in a jaw dropping story at the Daily Beast.

For the past few days, a mystery has been unfolding in Silicon Valley. Somebody, it seems, hired Burson-Marsteller, a top public-relations firm, to pitch anti-Google stories to newspapers, urging them to investigate claims that Google was invading people’s privacy. Burson even offered to help an influential blogger write a Google-bashing op-ed, which it promised it could place in outlets like The Washington Post, Politico, and The Huffington Post.
The plot backfired when the blogger turned down Burson’s offer and posted the emails that Burson had sent him. It got worse when USA Today broke a story accusing Burson of spreading a “whisper campaign” about Google “on behalf of an unnamed client.”

Not good.
The source emails are here.
I’ve been patient with Facebook over the years as they’ve had their privacy stumbles. They’re forging new ground, and it’s not an exaggeration to say they’re changing the world’s notions on what privacy is. Give them time. They’ll figure it out eventually.
But secretly paying a PR firm to pitch bloggers on stories going after Google, even offering to help write those stories and then get them published elsewhere, is not just offensive, dishonest and cowardly. It’s also really, really dumb. I have no idea how the Facebook PR team thought that they’d avoid being caught doing this.
First, it lets the tech world know that Facebook is scared enough of what Google’s up to to pull a stunt like this. Facebook isn’t supposed to be scared, ever, about anything. Supreme confidence in their destiny is the the way they should be acting.
Second, it shows a willingness by Facebook to engage in cowardly behavior in battle. It’s hard to trust them on other things when we know they’ll engage in these types of campaigns.
And third, some of these criticisms of Google are probably valid, but it doesn’t matter any more. The story from now on will only be about how Facebook went about trying to secretly smear Google, and got caught.
The truth is Google is probably engaging in some somewhat borderline behavior by scraping Facebook content, and are almost certainly violating Facebook’s terms and conditions. But many people argue, me included, that the key data, the social graph, really should belong to the users, not Facebook. And regardless, users probably don’t mind that this is happening at all. It’s just Facebook trying to protect something that it considers to be its property.
Next time Facebook should take a page from Google’s playbook when they want to trash a competitor. Catch them in the act and then go toe to toe with them, slugging it out in person. Right or wrong, no one called Google a coward when they duped Bing earlier this year.
You’ve lost much face today, Facebook.
Update: Sleazy PR Firm Throws Scummy Facebook Under The Sordid Bus


>

The Class That Built Apps, and Fortunes

May 7, 2011

NYTimes.com

STANFORD, Calif.
ALL right, class, here’s your homework assignment: Devise an app. Get people to use it. Repeat.
That was the task for some Stanford students in the fall of 2007, in what became known here as the “Facebook Class.”
No one expected what happened next.
The students ended up getting millions of users for free apps that they designed to run on Facebook. And, as advertising rolled in, some of those students started making far more money than their professors.
Almost overnight, the Facebook Class fired up the careers and fortunes of more than two dozen students and teachers here. It also helped to pioneer a new model of entrepreneurship that has upturned the tech establishment: the lean start-up.
“Everything was happening so fast,” recalls Joachim De Lombaert, now 23. His team’s app netted $3,000 a day and morphed into a company that later sold for a six-figure sum.
“I almost didn’t realize what it all meant,” he says.
Neither did many of his classmates. Back then, Facebook apps were a novelty. The iPhone had just arrived, and the first Android phone was a year off.
But by teaching students to build no-frills apps, distribute them quickly and worry about perfecting them later, the Facebook Class stumbled upon what has become standard operating procedure for a new generation of entrepreneurs and investors in Silicon Valley and beyond. For many, the long trek from idea to product to company has turned into a sprint.
Start-ups once required a lot of money, time and people. But over the past decade, free, open-source software and “cloud” services have brought costs down, while ad networks help bring in revenue quickly.
The app phenomenon has accentuated the trend and helped unleash what some call a new wave of technology innovation — and what others call a bubble.
Early on, the Facebook Class became a microcosm of Silicon Valley. Working in teams of three, the 75 students created apps that collectively had 16 million users in just 10 weeks. Many of those apps were sort of silly: Mr. De Lombaert’s, for example, allowed users to send “hotness” points to Facebook friends. Yet during the term, the apps, free for users, generated roughly $1 million in advertising revenue.
Such successes helped inspire entrepreneurs to ditch business plans and work on apps. Not all succeeded, but those that did helped to fuel the expansion of Facebook, which now has nearly 700 million users.
Venture capitalists also began rethinking their approach. Some created investment funds tailored to the new, bare-bones start-ups.
“A lot of the concepts and ideas that came out of the class influenced the structure of the fund that I am working on now,” says Dave McClure, one of the class instructors and founder of 500 Startups, which invests in lean start-ups. “The class was the realization that this stuff really works.”
Nearly four years later, many of the students have learned that building a business is a lot harder than creating an app — even an app worthy of an A+.
“Starting a company is definitely more work,” says Edward Baker, who was Mr. De Lombaert’s partner in the class and later in business. The two have founded Friend.ly, a social networking start-up.
Still, many students were richly rewarded. Some turned their homework into companies. A few have since sold those businesses to the likes of Zynga. Others joined hot start-ups like RockYou, a gaming site that at the time was among the most successful Facebook apps.
The Facebook Class changed Mr. De Lombaert’s life. His team’s app, Send Hotness, brought in more users and more money faster than any other in the class. And its success attracted the attention of venture capitalists.
“The class, more than anything, set the tone for us to try to start something big,” says Mr. Baker, 32, Friend.ly’s C.E.O.
When the Send Hotness app began to take off, Mr. Baker encouraged Mr. De Lombaert to treat himself to a new car. Mr. De Lombaert settled for a laptop. (He also put some money aside to help to pay his Stanford tuition.) They eventually sold the app to a dating Web site.
Facebook did not actively participate in the Stanford class. But some of its engineers attended sessions, and it benefited from the success of the students’ apps. “It really felt like an incubator,” says David Fetterman, a Facebook engineer who helped develop the applications platform.
The startling success of some of the class’s projects got Silicon Valley buzzing. The final session, held in an auditorium in December 2007, was attended by more than 500 people, including many investors.
“The Facebook platform was taking off, and there was this feeling of a gold rush,” said Mike Maples Jr., an investor who attended some of the classes and ended up backing one of the start-ups.
THE Facebook Class was the brainchild of B. J. Fogg, who runs the Persuasive Technology Lab at Stanford. An energetic academic and an innovation guru, he focuses on how to harness technology and human psychology to influence people’s behavior.
Mr. Fogg thought that the Facebook platform would be a good way to test some of his theories. Creating a new model of entrepreneurship was far from his mind.
At first, university administrators pushed back. “Facebook was not taken so seriously in academic circles back then,” Mr. Fogg recalls.
But there was no hesitation among students — from undergraduates in computer science to M.B.A. candidates — who were spending much of their lives immersed in Facebook.
From the start, many approached the class from a business angle. Mr. Baker, for instance, was a graduate business student but lacked technical skills, so he spent his first week interviewing engineers. “I wanted a technical co-founder,” he says.
He settled on Mr. De Lombaert, and the two, along with a third student, Alex Onsager, created Send Hotness. It let users send points to friends they considered “hot” and to compare “hotness” rankings.
Soon they found themselves in a proverbial “the dog ate my homework” situation. Three days before a presentation was due, Mr. De Lombaert accidentally deleted the computer code he was tinkering with. “We kind of freaked out,” he recalls.
Rebuilding the app would take too long. So, working around the clock over a weekend, they built another version, with a more rudimentary algorithm.
The stripped-down app took off. In five weeks, five million people signed up. When the team began placing ads on the app, the money poured in.
They had stumbled upon one of the themes of the class: make things simple, and perfect them later.
“The students did an amazing job of getting stuff into the market very quickly,” says Michael Dearing, a consulting associate professor at theInstitute of Design at Stanford, who now teaches a class based on similar, rapid prototyping ideas. “It was a huge success.”
DAN GREENBERG was sitting at the kitchen table one night when he and another teaching assistant decided to get into the app game. Mr. Greenberg, a graduate student who had done research for Mr. Fogg, hadn’t planned to get app-happy. But the students’ success whetted his appetite.
Four weeks into the quarter, he and his colleague, Rob Fan, set out to create an app that would let Facebook users send “hugs” to one another.
It took them all of five hours.
The app took off. So they moved on to apps for “kisses,” “pillow fights” and other digital interactions — 70 in all.
Their apps caught on with millions of people and were soon bringing in nearly $100,000 a month in ads. After the class ended, the two started a company, 750 Industries, named after the 750 Pub at Stanford where Mr. Greenberg and Mr. Fan where drinking when they decided to become business partners.
But juggling the business and schoolwork was too much for Mr. Greenberg, then 22. So he called his father.
“I said, ‘Dad, it is 10 p.m., and I’ve got so much stuff to do,’ ” Mr. Greenberg recalls. “ ‘We’re running this business, and I’ve got customers, and we are earning money, and we got financing and we have people to hire. But I have to write a paper tonight, and I just don’t have time for it.’ ”
His father advised him to pull a Mark Zuckerberg and drop out. The next day, Mr. Greenberg did just that.
Now 25, he works out of a glass-walled corner office in San Francisco. He is C.E.O. of his company, now called Sharethrough, which uses social media to distribute videos across the Web for companies. It employs 30 people and has raised about $6 million in venture capital. “It feels like a fairy tale when you look back on it,” he says of the class.
He has upgraded his lifestyle somewhat, but still doesn’t own a car. “I have a Vespa and skateboard,” he says.
“LOVE CHILD.” It sounds like an unlikely name for an app. But Johnny Hwin and his Stanford class team set out to build an app of that name, one that would let two users create and raise a virtual child. It never took off.
“We were overly ambitious,” Mr. Hwin says.
Seeing his classmates strike gold with simpler ideas proved to be a valuable lesson. In 2009, he began working on Damntheradio.com, a Facebook marketing tool that helped bands and musicians connect with fans online.
It opened last June and was acquired in January by FanBridge, where Mr. Hwin is now a vice president, for a few million dollars, he says.
Mr. Hwin, who is 26 and also a musician, now lives in a loft space in the Mission neighborhood in San Francisco. He uses his place as a kind of salon for late-night art shows and concerts.
“With Love Child, we wanted it to be perfect,” he says. With Damntheradio, he found his first clients by showing mockups of the product. “We were able to launch within weeks,” he says.
Another class member, Robert Cezar Matei, says he had only modest success with his projects. One, he said, allowed users to send “cheesy pickup lines” to friends; another encouraged people to reveal something about themselves. After graduating from Stanford, he wanted to earn some money to go traveling, but instead of getting a job, he decided to write Facebook apps. “I’d seen my peers being so successful with apps,” he says. “If they could do it, I could do it.”
After a few false starts, he created an app that let people send points and “kisses” to friends. It struggled until Mr. Matei, who speaks several languages, translated the app. The next day, traffic jumped fivefold. He added games, and employees, and the app became one of the most popular Facebook programs in Europe. In late 2009, he sold to Zynga for an undisclosed sum.
Also in the class was Joshua Reeves, who built an app that created animations that Facebook members would send to one another as birthday greetings or other messages. It made enough money for him to quit his job in 2008 to start Buzzeo, a content management system for Facebook. A year ago, Buzzeo was acquired by Context Optional, where Mr. Reeves, 28, is now a vice president. Last week, Efficient Frontier, a digital marketing company, acquired Context Optional for an undisclosed sum.
ONE recent afternoon at the headquarters of Friend.ly in Mountain View, Calif., 10 engineers worked away as two employees turned their attention to a companywide project: a 24,000-piece jigsaw puzzle.
For much of the past year, Friend.ly has worked on developing its service, a social network for meeting new people, without much success. A few weeks ago, the work appeared to pay off: traffic took off, growing to nearly five million monthly users.
Mr. Baker says the Facebook platform is a magnet for young developers, even though the kind of simple apps that were the focus of his Stanford class now face bigger hurdles. Facebook has made it harder to develop big-hit apps by controlling how apps spread virally.

But Mr. Fogg, says that for those who were at the right place at the right time — in late 2007 — things were different. “There was a period of time when you could walk in and collect gold,” he says. “It was landscape that was ready to be harvested.”


>

Looks like they fell for this one!!

Saudi king to buy Facebook to end the revolt: report

In what is being termed as pure Wall Street Gordon Gecko tactics, King Abdullah of Saudi Arabia has decided to make an offer of $150 billion to buy out Facebook. 

Inside sources within the kingdom suggest that the King is very upset with Mark Zukerberg for allowing the revolt to get out of control, Ahlul Bayt News Agency reported.

In a personal meeting between Mark Zuckerberg and King Abdullah on Jan 25, 2011, Zuckerberg had promised that he would not allow any revolt pages to be formed on Facebook even while he allowed Egypt and Libya revolt pages to be formed.

Left with no option, Abdullah advised by Goldman Sachs has decided to buy out Facebook and “clean out the weeds”. The offer on the table is $150 billion. Facebook balance sheet was shown to King Abdullah and his kingdom advisors had mentioned that it is not even worth $1 billion given that it generates no profit. But the King threw the report into the dustbin and fired his advisors and decided to hand over the investment banking mandate to Goldman Sachs who put the value at $150 billion. The deal will be all cash.

Most analysts believe that Zuckerberg will not take the offer and will wait for King Abdullah to up the offer to at least $500 billion. In the meanwhile king Abdullah has now logged on the Facebook and was busy profiling some of the models in the Goldman Sachs presentation.

Plans to provide cheap land for housing

In another development, minister of Municipal and Rural Affairs Prince Mansour bin Miteb said the government is striving to make affordable housing plots available for citizens.

“The Ministry of Municipal and Rural Affairs has allocated 130 plots for the General Housing Authority,” said Prince Mansour, adding that the task of making land cheaper needs the efforts of many government departments.

The prince said the housing authority, which has many plots of land left over from older allocations, will strive to provide houses to as many citizens as possible in all provinces. He added that a few housing projects were implemented in an unscientific manner and had to be redesigned. 

Sent from my iPad


>Zuckerberg’s Facebook Page Hacked – Technorati Technology

It happened to Julian Assange when someone got into his personal dating records in December. So why should it be so strange that someone hacked into Facebook founder Mark Zuckerberg’s Facebook account?

Maybe it has something to do with the fact that Zuckerberg is so busy telling the rest of us how safe and secure our private information is in Facebook. Just a little ironic.

At some point Tuesday, someone hacked onto Zuckerberg’s fan page on Facebook and left this message:

“Let the hacking begin. If facebook (sic) needs money, instead of going to the banks, why doesn’t Facebook let its users invest in Facebook in a social way? Why not transform Facebook into a ‘social business’ the way Nobel Prize winner Muhammad Yunus described it? [Link] What do you think? #hackercup2011”

Zuckerberg’s Facebook Page Hacked – Technorati Technology
Facebook, hackers, News, Security, SocialNetworks, spying, Tech

var addthis_config = { ui_cobrand: “The MasterTech Blog”}

_______________________________________

Check it out on The MasterTech Blog

>

LinkedIn’s IPO to test appetite for Facebook

LinkedIn CEO Jeff Weiner talks during an interview during the Reuters Technology Summit in San Francisco, California May 17, 2010. REUTERS/Robert Galbraith

NEW YORK/SAN FRANCISCO | Thu Jan 27, 2011 10:21pm EST 

NEW YORK/SAN FRANCISCO (Reuters) – LinkedIn Corp announced plans to go public this year in what could be a test of investor appetite for social networking websites ahead of a highly anticipated Facebook offering.
LinkedIn announced its intention to go public on Thursday, setting the stage for the company co-founded in 2002 by ex-PayPal executive Reid Hoffman to become the first social network to plant a flag on Wall Street.

But many investors will be watching LinkedIn’s IPO to gauge the appetite for Facebook, now valued at $50 billion as the world’s most dominant social network, and other Internet IPOs.
“Facebook has definitely escalated people’s interest in the sector and I think there’s a lot of demand (for more Internet IPOs),” said Rory Maher, an analyst with Hudson Square Research.

The number of shares to be offered and the price range have not yet been determined, according to the form S-1 registration statement that LinkedIn filed with the Securities and Exchange Commission.

Investor interest and valuations are surging for privately held Web companies like Facebook, Zynga and Groupon. LinkedIn revealed its plans a day after newly public Internet company Demand Media Inc saw its shares jump roughly 33 percent in their first day of trading.
Just this week, Groupon Chief Executive Andrew Mason said the company was considering an IPO and was in talks with bankers.

Facebook, the world’s No. 1 Internet social network, recently raised $1.5 billion in funding in a deal that valued the company at $50 billion.

Facebook said recently it planned to publicly disclose its financial results by April 2012, a regulatory requirement triggered by the company’s number of shareholders and a move that some believe could lead to a public offering.

LinkedIn’s net revenue nearly doubled to $161.4 million in the first nine months of 2010, with $1.85 million in profit, according to the filing.

In contrast, Facebook, which has far more users worldwide, had $1.2 billion in revenue in the first nine months of 2010 and $355 million in profit, according to a Goldman Sachs prospectus pitching the company earlier this month to investors.

LinkedIn, which caters to professionals, has 90 million users, compared with the more than 500 million users of Facebook’s mainstream social networking service.

Morgan Stanley, Bank of America and JPMorgan are among the book runners for the LinkedIn offering.

A portion of the shares will be issued and sold by the company, while a separate portion will be sold by certain stockholders of LinkedIn, the filing said. No specific details were disclosed.
LinkedIn’s investors include Greylock Partners, Bessemer Venture Partners, Goldman Sachs and Sequoia Capital, a venture capital firm that has backed Yahoo, Google, Apple Cisco Systems and Oracle.

(Reporting by Nadia Damouni in New York and Alexei Oreskovic in San Francisco; Editing by Bernard Orr, Gary Hill)

LinkedIn’s IPO to test appetite for Facebook | Reuters

Share this|var addthis_config = { ui_cobrand: “The MasterBlog”}

________________________
The MasterBlog





%d bloggers like this: