Why is facebook one of the most trusted companies in America?
Dave Morin, a senior facebook executive, posted this article showing that facebook is now one of the twenty most trusted companies in America. Why?
Here is my thought about sharing, privacy and trust. People succumb to the psychological force of ‘cognitive dissonance.’ Cognitive dissonance says that you have to reconcile contradiction between behaviors and attitudes to reduce the uncomfortable feeling of dissonance. In the case of facebook, people know that they care about privacy yet they find themselves in a place where they’ve shared their inner most secrets with a web site. To resolve that tension between attitudes and behaviors, they choose to believe that they trust facebook.
It’s a powerful virtuous cycle: the more you share, the more you trust and conversely, the more you trust, the more you share.