Slack looks slightly better than the average dotcoms[*], but a skim of even their ToU shows what are likely showstoppers for a CIO or IT manager who does their due-diligence. Even moreso if you're not paying Slack, and may consequently have less legal standing, and no SLA.
https://slack.com/terms-of-service
https://slack.com/privacy-policy

Without getting into all the pertinent industry practices and societal implications (it gets much, much worse than Slack), let me try to narrow down this particular situation into a bite-size assertion: gratuitous sending of even (what have been) ephemeral communications, to third-party data services, especially given the current dominant dotcom business models, is not good practice. By "gratuitous" here, I mean: one gets little utility in exchange for the (what should be a) chilling effect of putting companies' microphones atop the water cooler. (It's a water cooler, does not need additional chilling, ha.)

I don't like to get into these tangential discussions, but I also don't like to see students learning bad practices.

(In case anyone asks whether Freenode is also a third-party... Lilo was an acquaintance before he co/founded Freenode, and I advised him a bit when he first asked about setting up an IRC network as a non-profit. This was before dotcoms really got out of hand, and there were traditions of conduct by IRC server operators (not that there wasn't drama), which haven't been lost entirely. Today, one could cut out this third party, by running an organization-controlled `ircd`, but I don't think this particular third party is gratuitous, it's one of the most benign, and moving the channel now would get messy if you want to take all the current members with you and redirect future members from Freenode.)

(Incidentally, I've been working recently on ways to monetize startups without selling-out privacy of users, nor having artificially captive users for leverage or just perceived market cap. It's become increasingly difficult, and unusual. Mainly because your competitors get investment and/or revenue by doing questionable things not in users' interests (most of the things, without the users' knowledge), and consequently have funding to operate/produce "free" services/products.)

[*] Though Slack has the usual third-party cross-site tracking Web bugs, which is a bad first sign that's very easy and quick to check. Almost everyone does at least a few gratuitous Web bugs, even when they make lots of noise about ostensibly respecting privacy. I think some bad practices have become so common (and promoted by those who benefit), that developers now do them without even understanding what they're doing.

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