Trust in the tech sector hit an all-time low this year, according to a new study by Public Affairs Council and Morning Consult. Once the most trusted sector in the survey, tech now ranks among the least trusted, with 32% of respondents considering it less trustworthy than other sectors. Only the pharmaceutical industry, health insurance and energy are considered less trustworthy than tech.
According to the survey, tech topped the trustworthiness list from 2012 to 2017. But in 2018, the year the Cambridge Analytica scandal broke, it fell to fourth. It ranked fifth in 2019 and 2020, and now holds sixth place in terms of trustworthiness.
The survey also found that the percentage of Americans who believe the technology industry is under-regulated has more than tripled in the last eight years to 36%.
This survey comes in the wake of yet another Facebook scandal, with the Wall Street Journal's reporting on the Facebook Files. As tech companies wield increasing levels of power and influence, and consistently erode public trust, the court of public opinion is showing more interest in holding them to account.