Social Media Companies Can't Regulate Themselves, Says FTC Report

The FTC's Damning Report

The Federal Trade Commission published a new report about the data collection policies of social media platforms and video streaming services, and the results are damning, if not unexpected. This report, released on September 19th, found that these platforms not only surveil consumers but often retain vast troves of data indefinitely about users and non-users alike.

According to the FTC, self-regulation has been a failure. This situation arises from the billions of dollars companies stand to earn from data collection and monetization. Predicting and shaping human behavior through commercial surveillance is extremely profitable, which has made these companies some of the most valuable on the planet.

FTC Chair Lina Khan stated that these surveillance practices can endanger people's privacy, threaten their freedoms, and expose them to harms like identity theft and stalking. The failure of several firms to protect kids and teens online is notably concerning.

Key Findings

• The report highlights that even those who do not use these platforms have their data collected.
• Companies acquired consumer data from a range of sources, including advertisers and data brokers.
• Data can be retained indefinitely, with some firms failing to delete data upon user requests.

In response to these findings, the report recommends comprehensive privacy legislation to limit surveillance practices and greater protections for teenagers.