Recently I was attaining a seminar "Social Media Impact On Our Lives"and meanwhile the presentation the presenter was being asked by somebody from the audience that because all the social media sites are free never got a penny from us "the users" so how they earn money because as a matter of fact these companies worth millions of dollars . Social media on one side provide us platform that we can use for our necessary communication but on the other hand we a kind of product for these social media owners they sell our time and make money out of it .
Facebook being one of the used sites in the world earns almost 4 million dollars per day, according to an English blog 80% of is revenue generated from advertisements . Facebook is very famous for its targeted advertisement meaning using some machine learning algorithm applied on user's profiling data targets the emotions and shows the ads which might be clicked by the user . it may be myth but it says that facebook may batter about us than we know ourselves because of the post ans feelings we share on facebook.
Similarly other sites like youtube , tiktok , whatsapp and twitter use the same business model to earn money , in this industry if you have a bunch of audience then you can earn money this is the basic trick , one thing which i think is wort mentioning is about twitter that sells user's data that may be a sign of danger for the people who use twitter handle .
if these sites are benefiting us on one side on the other we are in grave danger about our security of data that we store our data on their severs that they can do any thing they want , so we have to be very careful about posting tweets and talks that we all do on these social site.