Daniel Sinclair @_DanielSinclair Building for young people. Not reading @danielsunread. Lurking behind likes and thinking about social media, communication, & China. May. 09, 2019 1 min read

"The legislators who questioned him were derided as too old and out of touch to understand how tech works. That’s the impression Mark wanted Americans to have... It’s hard to imagine government [breaking up] Facebook. This isn’t by coincidence."  https://www.nytimes.com/2019/05/09/opinion/sunday/chris-hughes-facebook-zuckerberg.html 

"Facebook largely ignored the [FTC's] decree... The day after the company predicted in an earnings call that it would need to pay up to $5B as a penalty for its negligence — a slap on the wrist — Facebook’s shares surged 7%, adding $30B to its value, 6x the size of the fine."

This. "Despite an extended economic expansion, increasing interest in high-tech start-ups, an explosion of venture capital and growing public distaste for Facebook, no major social networking company has been founded since the fall of 2011."

"We would never stand for a government agency censoring speech. But we already have limits on yelling 'fire' in a crowded theater, speech intended to provoke violence and false statements to manipulate stock prices... There is no constitutional right to live-stream violence."

Overall, a great piece that captures the magnitude of the Facebook problem, and what it represents more broadly to American innovation. @chrishughes has also framed the value and role of data quite well in his Data Dividend proposals.  https://www.theguardian.com/commentisfree/2018/apr/27/chris-hughes-facebook-google-data-tax-regulation 

I'm already not looking forward to the deposition tapes.


You can follow @_DanielSinclair.



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