Facebook parent Meta agrees to pay $725 million to settle Cambridge Analytica suit

LTC Eugene Chu
..."Cambridge Analytica, which shut down after the allegations in 2018, was controversial because the data it harvested from Facebook was used to inform political campaigns.

In 2018, Britain’s Channel 4 News filmed Cambridge Analytica executives suggesting that the firm would use sex workers, bribes, ex-spies and fake news to help candidates win votes around the world.

Since the scandal, Facebook changed its name to Meta to reflect its growing ambitions to become a leader in the metaverse, a term used to refer to virtual worlds. Facebook, still one of the world’s biggest social media firms, is run by Meta.

But Facebook has seen a slowdown in growth due to a slowing in the advertising market, changes to Apple’s iOS privacy rules and rising competition from TikTok."