Amid the chaos over Facebook-Cambridge Analytica data theft scandal, billionaire businessman Anand Mahindra has come up with an idea to build an alternative social media platform.
Facebook’s privacy practices have come under fire after Cambridge Analytica got data pertaining to about 50 million of its users through inappropriate means. The scandal has raised an alarm in India bringing to fore concerns over privacy and safety of personal data.
Mahindra has pitched the idea of having a social networking company which is “professionally managed and willingly regulated” in a tweet. He has invited Indian startups to reach out to him with related ideas and expressed eagerness to assist them with seed capital.
Beginning to wonder if it’s time to consider having our own social networking company that is very widely owned&professionally managed&willingly regulated.Any relevant Indian start-ups out there?If any young teams have such plans I’d like to see if I can assist with seed capital pic.twitter.com/nBSkQk0hCp
The data breach case is not the first time that Mahindra has weighed on projects that interest him. Last month, when Nirav Modi bank fraud was making headlines, the business magnate had bring in idea about crowdfunding an iconic building in Mumbai, which had been acquired by the fugitive diamantaire.
Mahindra’s tweet on Tuesday got a positive response from one of his colleagues who suggested “blockchain-enabled social 3.0” network. Mahindra welcomed the idea and replied, “Could I request you to work with me to filter ideas & proposals & locate an optimal candidate to support?”
It received many responses with techies sharing their ideas to build up an alternative to Facebook.
Thank you all for the flood of responses, suggestions & proposals. Please copy your tweets to my colleague @j_bindra who will work with me on this exploration. If nothing else, it should be fun..
Mahindra further thanked Twitterati in another tweet for the “flood of responses, suggestions & proposals”. Asking people to contact his colleague J Bindra with their ideas, Mahindra tweeted “if nothing else, it should be fun…”moneycontrol