Facebook launched its video-chat and smart speaker device, Portal on Monday. Portal is Facebook's new video chat device for the home. Let me repeat that, Portal is for video calls in the home. The Portal puts the company in head-to-head competition with Google and Amazon devices in the homes. The Portal is equipped with Smart Camera, a new artificial intelligence software that senses people's movements and automatically pans, zooms and frames the picture so you don't have to do that yourself.
But that’s beside the point, Facebook has some nerve because they have some serious mistrust issues. You remember the Cambridge Analytica scandal earlier this year, which compromised the personal data of 80+ million users without their permission.
And just a couple of weeks ago, Facebook had the largest hack in the company's history, affecting up to 50 million accounts.
Facebook said that Portal doesn't record video calls and that those calls are encrypted and that people worried about privacy can cover the camera lens, mute calls and press a button to shut off the camera and microphone. Facebook also said the company won't use Portal data directly for ad targeting. But Facebook said the same thing some years backs.
Facebook also said that it was halting its practice of allowing advertisers to target ads using information from third-party data brokers. Facebook is letting advertisers know that they will be shutting down Partner Categories, which enabled third-party data providers to offer their targeting directly on Facebook.
Putting out the Portal was a bad move by Facebook, especially with all the issues they have now. Sooner or later they will learn, but I would of thought they learnt their lesson a couple of months ago.
I personally think the Portal is going to be a complete flop and the price of their stock is going to continue to drift down until they get serious and sincere about regaining the trust of their over 2 billion users.
If price breaches the $145 monthly demand, the chart suggests Facebook will head lower to the $115 monthly demand next.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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by rollandthomas
