Bears Vastly Overstate This Risk to Facebook

Say goodbye to democracy. Last week, less than 1% of Facebook's (NASDAQ: FB  ) active user base voted on privacy changes that grant the social network more control over data hosted at the site.

The numbers are startling. Of the roughly 1 billion eligible, only 589,141 voted against the proposed changes while 79,731 voted in favor. At least 300 million had to participate for the vote to count. So much for an engaged user base.

Or maybe there's more at work here. Maybe, as consumers of social media, we don't care about privacy nearly as much as the headlines suggest. Maybe it's time we stopped counting the possibility of a data breach as a risk when it comes to evaluating the attractiveness of Facebook, Google (NASDAQ: GOOGL  ) , LinkedIn (NYSE: LNKD  ) , and others.

Think that's crazy? In the following video, Fool contributor Tim Beyers explains why none of these stocks has endured long-lasting pain at the hands of a privacy miscue.

More expert advice from The Motley Fool
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