291–300 of 627 posts
The real takeaway: Parents protect your children from social media. Talk to them. Give them rules to keep them safe. Say "No." Don't wait for Zuckerberg to do it. Don't wait for Congress to do it. Get yourself away from it, and get your children off it. Find some other way to share pictures with grandma and grandpa. We need regulation, yes, but this is the same as people smoking themselves into an early grave, but on…
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Show me one company that places its profits/shareholder below the best interest of people. We just restart the cycle starting new.
Costco is my go to example. It seems to treat its employees really well.
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What litigation or legislation would hollow out Facebook? I would like to see stronger legislation around consumer data privacy, but that would only marginally reduce Facebook advertising revenue.
https://www.marketwatch.com/story/facebook-overpaid-ftc-fine... Any action that gets Zuckerberg into a deposition or courtroom, i.e., under oath, is potential trouble for Facebook. Testimony before Congress is not the same.
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> Yes I know Zuckerberg cannot be ousted by typical corporate maneuvering Why is that? I am not aware of Facebook's corporate structure so I am curious. - Yes, this is a LMGTFY question, but I find that people can often provide a better answer, that's easier to understand especially when the question is more of a curiosity rather something I wish to find the answer of rapidly.
I wonder if there is a simple fix to this: ban super-voting shares for social media companies over a certain size and age. Public, or private. Maybe the core of the problem is Zuckerberg using Facebook to accumulate power. Not the company per se .
The page at https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?location... says that the total US GDP for 2020 was almost $21T dollars. Specifically, $20,936B. The page at https://www.macrotrends.net/stocks/charts/FB/facebook/market... shows that the current market cap for Facebook is about $967B, but in 2020 it peaked just over $600B. Let’s use the 2020 numbers for illustration.
If the total worldwide market cap of a company exceeds 1.0% of the total US GDP for a given year, then I think they should be required to liquidate all preferred stocks, preferably trading them 1-for-1 with the regular stocks, although I would also concede that it might be fair to trade them for an equal value.
At US GDP for 2020 being just under $21T, this would mean that any company with a global market cap of slightly more than $200B would be affected — $209.63B, to be more exact.
If you want to shift the point at which this rule is applied, then adjust the percentage, but I think you want it to be tied to something that will vary and adjust in the future, to account for inflation, etc….
And I suggest global market cap as the comparison base, because some companies have a habit of using multiple shell companies in a wide variety of foreign countries, in order to try and hide their revenue and protect it from governmental taxes. I think we want to account for those kinds of shenanigans from the start.
Anyway, it’s just an idea. But I hope this general concept does take off.
The fact that congress has not done anything about FB (other than fruitless hearings) shows how badly in shape we are to confront the risks of social networks.
Whether or not what Facebook did was illegal and she technically qualifies as a "whistleblower", I salute her for what she has done and is doing by telling this story. People need to know about this, because it is harmful. This doesn't mean it should be illegal. But it is something people should consider if they go to work for Facebook (or other companies), and hopefully it will inspire people to do something about t…
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I don't think we should want good people to stop working for Facebook. That never made sense to me. Facebook isn't going anywhere, and as such it should be improved, and the only way that will happen is if good people keep going to work there and trying to make it better.
"facebook isnt going anywhere". If this was the 90s/early 2000s you would say that about Yahoo. MySpace was a thing for a long time and operated in a way that we were never concerned about it causing the end of democracy or a civil war or helping dictator. I know part of it was technology at the time but also MySpace never used the kind of rage inciting algorithms Facebook does. I only hope PyTorch and Oculus get spu…
Facebook famously and studiously (and in hindsight extremely accurately) bought out every conceivable future competitor ensuring they truly don’t have competition in their real market. And their top brass know exactly what company and market they are in contrary to popular belief. barring legislation to split or curtail this org it will continue to metastasize and thrive in the world with reckless abandon.
It's an unfortunate but inevitable outcome of the attention economys race to the bottom. This area needs better regulation. The best approach is to stay out of technical implementation and focus on what principles companies should adhere to. As James Williams argue: it should be a civil right to have "freedom of chance". We already knew all too well what it does to our democracy that a large part of the public only g…
What would that regulation actually require social media companies to do?
Whether or not what Facebook did was illegal and she technically qualifies as a "whistleblower", I salute her for what she has done and is doing by telling this story. People need to know about this, because it is harmful. This doesn't mean it should be illegal. But it is something people should consider if they go to work for Facebook (or other companies), and hopefully it will inspire people to do something about t…
I don't think we should want good people to stop working for Facebook. That never made sense to me. Facebook isn't going anywhere, and as such it should be improved, and the only way that will happen is if good people keep going to work there and trying to make it better.
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The claim lodged with the SEC is that Facebook Inc defrauded investors. Dodd Frank set up a whistleblower program for allegations of this kind.
I mean nothing gets corporations spooked like the SEC does! How could Facebook ever afford to pay those fines!