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Ask HN: Why is Facebook's data worth that much? How is it used?

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Re: Ask HN: Why is Facebook's data worth that much? How is it used?

#11

Post by good_vibes »

pasbesoin wrote: post #6

Anecdote: Two days ago, I bought some drain cleaner. I paid with a credit card. This morning, for the first time, Facebook presented me with an ad for Liquid Plumber (a drain cleaner). Without my ever giving them my credit card number, they or the attendant ad agency have cross-linked my credit card with my Facebook account. :-( This may be more noticeable to me, because Facebook on my phone is one of the few places…

That is very Orwellian and disturbing to me. We are treated like farm animals, domesticated for our data, and most people seem to be perfectly okay with it.

Not sure what to think right now.

Re: Ask HN: Why is Facebook's data worth that much? How is it used?

#12

Post by ljk »

good_vibes wrote: post #9
bingojess wrote: post #7

Earlier quoted context omitted.

FB knows so much about you. You age, your likes, your friends, your location, etc. This allows for very precise targeting of ads compared with say a billboard. This combined with the amount of time it's billion plus users spend on the site.

The whole thing is built on the underlying assumption that people will remain loyal to this platform. Right?

even if they're not loyal to the platform, by showing the consumers ads it'll still make an impression for later

Re: Ask HN: Why is Facebook's data worth that much? How is it used?

#13

Post by ljk »

good_vibes wrote: post #11
pasbesoin wrote: post #6

Anecdote: Two days ago, I bought some drain cleaner. I paid with a credit card. This morning, for the first time, Facebook presented me with an ad for Liquid Plumber (a drain cleaner). Without my ever giving them my credit card number, they or the attendant ad agency have cross-linked my credit card with my Facebook account. :-( This may be more noticeable to me, because Facebook on my phone is one of the few places…

That is very Orwellian and disturbing to me. We are treated like farm animals, domesticated for our data, and most people seem to be perfectly okay with it. Not sure what to think right now.

> We are treated like farm animals

like the saying goes: if you're not paying, you're the product

Re: Ask HN: Why is Facebook's data worth that much? How is it used?

#14

Post by teapot01 »

newsat13 wrote: post #10
jakobegger wrote: post #8

Earlier quoted context omitted.

So here's the thing I don't understand: After buying some drain cleaner, the mighty machine learning algorithms created by the best of the best ivy league grads comes up with the perfect ad to show you: An ad for more draincleaner.

Amazon is actually really really good at this :-) They follow me all over the internet for _weeks_ to show me ads about a product that I have already purchased via amazon itself !

While it might seem nonsensical to advertise something you have already purchased, the next time you need to purchase it chances are the brands you saw in ads will seem more trustworthy.

Re: Ask HN: Why is Facebook's data worth that much? How is it used?

#15

Post by good_vibes »

ljk wrote: post #12
good_vibes wrote: post #9

Earlier quoted context omitted.

The whole thing is built on the underlying assumption that people will remain loyal to this platform. Right?

even if they're not loyal to the platform, by showing the consumers ads it'll still make an impression for later

Imprinting by visual and social proof.

Makes me wanna say...'It's a trap.'

Re: Ask HN: Why is Facebook's data worth that much? How is it used?

#16

Post by siquick »

pasbesoin wrote: post #6

Anecdote: Two days ago, I bought some drain cleaner. I paid with a credit card. This morning, for the first time, Facebook presented me with an ad for Liquid Plumber (a drain cleaner). Without my ever giving them my credit card number, they or the attendant ad agency have cross-linked my credit card with my Facebook account. :-( This may be more noticeable to me, because Facebook on my phone is one of the few places…

The company most likely have a Facebook conversion pixel on their site to record user activity (i.e. you buying a product) which is passed back to FB, and you've been retargeted by another company who have stipulated that they want their ads shown to people who are interested in drain cleaner or similar.

https://www.facebook.com/business/help/651294705016616

They haven't linked your credit card.

Re: Ask HN: Why is Facebook's data worth that much? How is it used?

#17

Post by microwavecamera »

good_vibes wrote: post #11
pasbesoin wrote: post #6

Anecdote: Two days ago, I bought some drain cleaner. I paid with a credit card. This morning, for the first time, Facebook presented me with an ad for Liquid Plumber (a drain cleaner). Without my ever giving them my credit card number, they or the attendant ad agency have cross-linked my credit card with my Facebook account. :-( This may be more noticeable to me, because Facebook on my phone is one of the few places…

That is very Orwellian and disturbing to me. We are treated like farm animals, domesticated for our data, and most people seem to be perfectly okay with it. Not sure what to think right now.

But how else will you find out what Disney princess you are? Or what complete strangers ate for breakfast? Facebook knows whats best for us. I for one welcome our all knowing algorithmic overlords.

Re: Ask HN: Why is Facebook's data worth that much? How is it used?

#18

Post by pasbesoin »

siquick wrote: post #16
pasbesoin wrote: post #6

Anecdote: Two days ago, I bought some drain cleaner. I paid with a credit card. This morning, for the first time, Facebook presented me with an ad for Liquid Plumber (a drain cleaner). Without my ever giving them my credit card number, they or the attendant ad agency have cross-linked my credit card with my Facebook account. :-( This may be more noticeable to me, because Facebook on my phone is one of the few places…

The company most likely have a Facebook conversion pixel on their site to record user activity (i.e. you buying a product) which is passed back to FB, and you've been retargeted by another company who have stipulated that they want their ads shown to people who are interested in drain cleaner or similar. https://www.facebook.com/business/help/651294705016616 They haven't linked your credit card.

I should have clarified. I purchased it in a physical store. No loyalty card or such. Just, I paid for it with a credit card.

I've never before seen an ad for a drain cleaner on FB. I've a pretty good memory for such things.

P.S. I made no mention of using it, nor of the situation with the drain, on FB.

Re: Ask HN: Why is Facebook's data worth that much? How is it used?

#19

Post by [deleted] »

pasbesoin wrote: post #18
siquick wrote: post #16

Earlier quoted context omitted.

The company most likely have a Facebook conversion pixel on their site to record user activity (i.e. you buying a product) which is passed back to FB, and you've been retargeted by another company who have stipulated that they want their ads shown to people who are interested in drain cleaner or similar. https://www.facebook.com/business/help/651294705016616 They haven't linked your credit card.

I should have clarified. I purchased it in a physical store. No loyalty card or such. Just, I paid for it with a credit card. I've never before seen an ad for a drain cleaner on FB. I've a pretty good memory for such things. P.S. I made no mention of using it, nor of the situation with the drain, on FB.

[deleted]

Re: Ask HN: Why is Facebook's data worth that much? How is it used?

#20

Post by wapz »

newsat13 wrote: post #10
jakobegger wrote: post #8

Earlier quoted context omitted.

So here's the thing I don't understand: After buying some drain cleaner, the mighty machine learning algorithms created by the best of the best ivy league grads comes up with the perfect ad to show you: An ad for more draincleaner.

Amazon is actually really really good at this :-) They follow me all over the internet for _weeks_ to show me ads about a product that I have already purchased via amazon itself !

Same situation with me! I purchased a pasta maker (one of those fairly expensive 'automated' ones), and Amazon keeps suggesting I buy another one!
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