When Instagram Changed Its Terms of Service

When Facebook bought Instagram in 2012 for $715 million, it got its hands on the four hundred million user base that was severely under-monetized. So what’s the first thing that Facebook decided to do? Why, of course, change the rules so that the user base would enjoy diminished rights and the Facebook-controlled Instagram could take greater commercial advantage of the activities that occur on the image-sharing site that it hosts.

To achieve this, Facebook’s law firms, one of which was rumored to be Charlie Munger’s firm of Munger, Tolles, and Olson, announced that it was changing its terms of service in December 2012 and if you didn’t like it, you had until January 19, 2013 to object by deactivating your account.

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