It’s a well-covered story by now, of course, but in the interest of giving you a daily update on tech stories, Facebook officially announced terms of its settlement with the Federal Trade Commission.
Facebook would be barred from making misrepresentations about the privacy of consumers' personal information, and it must obtain consumers' approval before it changes the way it shares their data. The settlement also requires that Facebook to obtain periodic reviews of its privacy practices by an independent auditor for the next 20 years.
Facebook honcho Mark Zuckerberg wrote about the deal on Facebook’s blog and apologized for screwing up privacy in such a manner that led to this situation. Liz Gannes of All Things D has an interesting observation: of the 25 blog posts Zuckerberg has authored, 10 of them were written to address complaints that have arisen among Facebook users and privacy advocates. I don’t know about you but if I had a Facebook friend who was defending themselves or apologizing in 40% of their posts, I don’t think they would stay my friend for very long.