INSUBCONTINENT EXCLUSIVE:
Authors: JordanCambridge Analytica, the consulting firm in the center of the Facebook data-abuse scandal, has announced that it's shutting
up shop. In a statement published on its website, the firm has said that is will begin bankruptcy proceedings not only in the US, but also
in the UK, where it operates as SCL Elections.According to the statement, the media attention following accusations of improper data mining
and the ensuing legal battles have lead to the company losing clients and money.Innocent until proven guiltyDespite Facebook admitting that
data from 87 million users was harvested for political analysis, Cambridge Analytica denies any wrongdoing, claiming it “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 firm believes that “its employees have acted ethically and lawfully” and blames the “siege of media coverage” for the
loss of “virtually all of the Company’s customers and suppliers”, forcing Cambridge Analytica to go into administration.Analyze
thatCambridge Analytica was founded in 2013 to focus on US elections and had the financial backing of prominent Republican donor Robert
Mercer, who fed in US$15 million to help the Trump campaign.Since its set up, the firm has provided consumer research and targeted
advertising to political and corporate clients. While Cambridge Analytica claims it is innocent, the company has promised to help
investigations into the data-mining scandal.The shutdown came into effect on Wednesday, May 2, and employees were asked to hand over all
company laptops and other assets.
