Cambridge Analytica Closes Down Following Facebook Data Harvesting Scandal

Ding-dong! The witch is dead. This is the cry being heard across social media platforms as Cambridge Analytica, the UK-based political consulting firm embroiled in the Facebook data harvesting scandal, have announced that they are immediately ceasing all operations and beginning insolvency proceeding in the UK and US.

The company announced their decision in a press release on May 2nd, throughout which they continued to deny any wrongdoing.

“Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the Company’s efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas,” the company stated.

“Despite Cambridge Analytica’s unwavering confidence that its employees have acted ethically and lawfully, the siege of media coverage has driven away virtually all of the Company’s customers and suppliers.  As a result, it has been determined that it is no longer viable to continue operating the business, which left Cambridge Analytica with no realistic alternative to placing the Company into administration.”

The problem in the eyes of the public is that the scandal was more about ethics than laws; in fact surely the upcoming overhaul of regulations under GDPR is evidence enough that current laws are insufficient. While Cambridge Analytica and their parent company SCL Elections Ltd. May not have broken any laws they have damaged their reputation irreparably and lost any measure of trust the public may have granted them. In the wake of all this, the company’s closure comes as no real surprise.

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