Twitter hack exposes risks of social media influence

Significance

The incident’s impact extends beyond the firm itself: hijacked accounts of eminent individuals have the potential to exert significant influence on the public and the economy.

Impacts

• The reputational damage to Twitter will endure.
• Damaging security breaches will add to the problems facing social media firms such as tax disputes and anti-trust concerns.
• Twitter will tighten employee access to internal systems, especially to protect the highest-profile users.