Zoom was recently served a class-action lawsuit by one of its shareholders. The lawsuit accuses the company of blowing its privacy standards out of proportion, and failing to disclose the fact that its program does not have the end-to-end encryption it said it did.
It’s the latter privacy flaw that has caused what can be described as unending issues, both for the company and its consumers. For example, many users have complained about “Zoombombing”, where someone unknown and not a part of the group would just crash their meetings.
Even worse is the fact that many videos conferences and meetings conducted on Zoom have been compromised, with thousands of video having already been uploaded online. On to sites such as YouTube and Vimeo.
Even tech giants such as Elon Musk have banned his company, SpaceX, and its employees from using the conferencing tool, citing the same privacy and security concerns. Even the Taiwanese government is reportedly telling its agencies not to use the app for similar reasons.
Unsurprisingly, these security issues have caused Zoom to lose approximately a third of their market value on the US stock market. While Eric Yuan, CEO of Zoom, has apologised to consumers for his company’s mistakes, it’s clear that a lot of work will still be needed to win back the trust.