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Facebook patent tries to guess users' socioeconomic status

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A new patent from Facebook describes a system that would use data points it collects on the user — like education, travel history, the number of devices owned, and homeownership — to predict their socioeconomic status. The patent was spotted by CBInsights.

Why it matters: The social network, which is already coming under fire for knowing too much about its users, could use such a system to better target ads and content to specific audiences.