19 Burst results for "Roger Mcnamee"

"roger mcnamee" Discussed on WCPT 820

WCPT 820

05:15 min | 2 months ago

"roger mcnamee" Discussed on WCPT 820

"Whatever Elon Musk did at Twitter. I mean, that's some crazy stuff, Stephanie. I often say that a lot of people could run their companies better if they just read a pamphlet on management, like not even really a book or a course. I don't know what he's been reading, but it's the opposite, right? It's like, what can I do today to annoy my workforce? Particularly when your workforce is engineers and you're short of them and unemployment is under 4% in America and you're all trying to be, you know, like when I go to work, we have these framed things that say, we're number 16 on the top hundred best companies to work for or whatever the case is. Like companies brag about that stuff about the nice things they try and do for their employees to recruit them. Twitter's not doing that right now. Elon Musk is trying a different experiment. Maybe this is not a work will be on Mars. What would a hardcore vision of the Stephanie Miller show be? I don't know. Don't really know. Yeah, you know, Ali, I don't know what you're thinking, but we were saying, I'm going to stay, I don't know, I'll be there till the end. I'm not sure. I think last night people were thinking it might actually physically shut down if all the employees were locked out. I mean, they were they locked a whole bunch of people out. It's not even the way you make policy changes, right? Usually the CEO makes a nice letter or the HR person about, hey, we need to change these things and we're going to be a transitionary period for three weeks or whatever. This is the craziest stuff I've seen in a very long time. But it's not, Stephanie, it's not, actually, when you follow Elon Musk's history and how he runs things, it's often that kind of people, these visionaries, these, you know, people who think outside the box. Well, that's fantastic, except when you have to deal with people. Yeah. Sometimes. Sometimes you have to come back in the box a little bit. As a business reporter, have you ever seen someone appear to run their business into the ground and what is this three weeks? You see it, I've seen it with CEOs who are generally short lived, right? They bring in somebody because there's a great example at Ford, right? Things were not working at Ford for a long time. And then they brought in Jack Nasser. And Nasser was this guy who breaks the China and does all sorts of things. And he was really going to change at all so much so that executives started not driving forwards, but they started driving land rovers and Jaguars because they had acquired those companies. And it became less and less about Ford, the big oval came off the building. And it was just going to be this new global country company, didn't last. Didn't last because he broke so much China that Ford workers didn't know what Ford was. So what happens is you see these kinds of disruptive figures come in sometimes and leave. Or you see Steve Jobs kind of figures who are disruptive and stay, but they're so disruptive that the world accepts that, oh, you've created remarkable things. It sounds like you're a bit of a distasteful human. But you know, you're making life easier for the rest of us. Twitter's not making life better or easier for the rest of us. It's not helping democracy and apparently Elon Musk is a really bad boss. What? Well, yeah, but so obviously I'm reading your tweets in front of me. So your honor. As a journalist. As a journalist, I'm trying to improve the quality of Twitter one tweet at a time. Right. No, I'm staying. Are you staying? I mean, what's your take on that? Yeah, I mean, I get the problems which were, and I've known those problems for years. I do believe like roger mcnamee often says that social media is starting to become incompatibility incompatible with democracy, but for the moment it is a method for me to communicate with people and I'm using it. Yeah, yeah, no me too. I'll be there playing in the band with you when the Titanic goes down. Right. Okay. So like what it feels like, yeah. But you covered a bunch of bub, you know, stories obviously as a relates to the election, but you said election deniers overwhelmingly lost in battleground states. That may be the most important story practically of the election cycle. Don't you going forward for 2024? Yeah, there's so it's one of those statements that is, you know, can be put out by a PR department because it hides a lot of flaws. A lot of election deniers did actually win. And a lot of election deniers did win as governors attorney generals or secretaries of state, but they're not in battlegrounds. This is where the races would be tight. There's one exception and I'm not really sure I'd call Indiana a battleground state, but a Secretary of State prevailed there. Who is an election denier? But generally speaking, yeah, in the, in the places where democracy was going to die, Michigan, Arizona, Pennsylvania, and places like that wiped out across the board. Yeah. Wisconsin has a senator reelected. Ron Johnson, who is an election denier, but generally speaking, senators don't have impact. Right. Oh, Ali froze. Uh oh. Is it our Internet or is it Ali? I don't know. He's beautiful in that position, though. Yeah. Okay. Ally? Nope, still frozen. Oh, dear. Oh, really? Okay. I was going. I was going to ask, do we know actually maybe you guys know? And then I'll ask the news guy. What the actual margin is right now for the house? I don't know where we're at. I know it's not done yet. But I would look it up, but we don't have the Internet. Oh, is that yeah, that's problematic. Oh, Ellie went away. Yeah, okay. Why don't we tell you what? Why don't we break, see if we can get him back, okay? And here we go. Okay, 13 minutes after the hour. This portion of the Stephanie Miller show brought you by Adam and Eve. Oh, the girlfriend was very excited. I told her to go shop around on Adam and Eve

Elon Musk Ford Twitter Stephanie Jack Nasser Stephanie Miller Ali roger mcnamee China Nasser Jaguars PR department America Steve Jobs Ali froze Ron Johnson Indiana Pennsylvania Arizona
"roger mcnamee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:02 min | 8 months ago

"roger mcnamee" Discussed on Bloomberg Radio New York

"I'm Emily Chang in New York and this is Bloomberg technology coming up in the next hour He helped introduce Cheryl Sandberg to Mark Zuckerberg and the rest they say is history I'll be joined by roger mcnamee to talk about that meeting Sandberg's legacy and where the company goes from here Plus he sat on Facebook's board for 7 years He's no Sandberg for more than 20 My exclusive conversation with Don Graham on Sandberg's role in building the company and where meta goes from here An inflation keeps raging no relief inside according to President Biden This as the market and tech and crypto stocks in particular keep whip sawing We will be joined by Sebastian malaby author of a new book the power law about whether Silicon Valley can hold onto its role as a center of power Later in the hour all of that in a moment but first I want to get a look at the markets and Microsoft giving the market a scare by revising its outlook in a changing world Bloomberg's at ludlow has all the details Microsoft the market story of the day Yeah we really started Thursday with some nerves the stock down as much as 4% or one point they're saying that the stronger dollar and rising interest rate story of course has been a real headwind so they revised their outlook for both revenue and earnings of $460 million hit on that strong dollar unfavorable currency conditions in the quarter If you look at how the stock traded throughout the day and by the end of the day we kind of shrugged it off even some saying it was bullish that they were able to revise their guidance so modestly in the face of that currency headwind closing it up 8 ten to 1% also news breaking after the bell end on Microsoft that they've adopted principles of organization of course they're acquiring Activision one of the first union shops in the gaming industry You wonder how preemptive that move is in the context of the unionization movement that's happening broadly across technology We saw tech stocks throughout Thursday have a rally and essentially it was those areas of the market most punished the mega cash Look at the NASDAQ 100 It names like Tesla and video seeing really significant gains Chief among them meta the parent company of Facebook This is fascinating The context of what's happened in the last 24 hours when we think about meta at one point on Thursday we break the news that Sheryl Sandberg's leaving meta parent company to Facebook The stock falls as much as 4% pairs declines to around 2% then on Friday we're surging as much as 6% biggest jump since the end of April You see the stock actually up 8% over a two day period The street really sanguine about this then basically saying on the sell side look the timing was right there's a shift to the metaverse Javier olivan is a very capable insider who has experienced he might take more of a backseat and the market reacted positively I would say though that matter was kind of caught up in this broader feel good environment that we saw around the mega cap tech stocks All right Ed thank you I do want to stay on Sandberg's exit now from that end What it means for the company going forward I'm joined by Jasmine emberg principal analyst for insider intelligence She covers social media and influencers look Jasmine from a business perspective Controversy about the business model aside how confident are you that meta can keep the money machine running without Sheryl Sandberg Well I think you know first of all we have to address how powerful Sandberg was able to build meta's ad business when she started in 2008 We at the market are now insider intelligence estimated that Facebook's worldwide ad revenues were just $250 million Now within two years that figure had grown to $1.3 billion and flash forward to today meta is the second largest digital ad seller in the world after Google I mean it's safe to say that the new leadership certainly has their work cut out for them to continue growing meta's business but it's still in a pretty good place despite all of the headwinds that it is facing right now One Bloomberg take put it like this Cheryl Sandberg is leaving Facebook at a perilous moment What is your outlook on how fast Facebook and Instagram and WhatsApp can continue to grow while the company is making this massive pivot to the metaverse And you're absolutely right I mean meta is in the process of undergoing this massive shift towards the metaverse And you know it is going to be something that is pretty far down the line It is still years and years away for the metaverse to become a reality And right now there are some really immediate challenges that Facebook has to grapple with and Instagram has to grapple with as well that is an ad revenue slowdown That is a slowdown in user growth It is also slow down in time spent on Facebook Now Instagram of course has been able to pick up the slack for Facebook for quite some time That's proving to be more difficult So it's going to require quite a bit of discipline and innovation to continue growing all of meta's platforms Jasmine emberg insider intelligence principle analyst thank you Jasmine obviously lots of remains to be seen Now Sandberg might never have been at Facebook if it wasn't for my next guest He was an early investor and a mentor to Mark Zuckerberg Here's roger Mac Demi describing how he helped broker their partnership It's Sheryl Sandberg Have you ever met her He said I think I shook her hands once at a party I don't know at all And I said I want to try to get her to come and talk to you about being your chief operating store And the next thing you know she goes there is the chief operating officer At which point basically they didn't need me anymore I mean she's way smarter than I am I mean one of the most one of the most capable people I have ever met in any way Joining me now roger mcnamee cofounder of elevation partners and author of the book zucked waking up to the Facebook catastrophe so roger we all know that your feelings about Facebook have changed over the years I'm so curious what your first thought was when you saw the.

Sandberg Cheryl Sandberg Facebook roger mcnamee Emily Chang Bloomberg technology Don Graham President Biden Sebastian malaby Sheryl Sandberg Microsoft meta Mark Zuckerberg Javier olivan
"roger mcnamee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:41 min | 10 months ago

"roger mcnamee" Discussed on Bloomberg Radio New York

"Welcome back to Bloomberg technology I'm Emily Chang in San Francisco Twitter's 8 K just out and we are getting new details on the deal and Elon Musk's agreement to buy it or I'd love Lowe has been pouring through the numbers and what does it say Yeah the standout is that there is a termination fee in place for both parties So if Elon Musk walks away from this deal he has to pay Twitter $1 billion If Twitter walks away from the deal then they have to pay Elon Musk and the incorporated companies that he set up for the deal $1 billion The other thing is kind of the structure of the business that Twitter becomes a subsidiary of ex holdings incorporated the business Elon Musk set up or one of them at least to do this deal What it doesn't say is more interesting It talks about the $21 billion of equity financing that Elon Musk has to come up with alongside the $25.5 billion of debt financing which we have plenty of details on and then look at my board Tesla down 12% during Tuesday's session as the biggest drop since September 2020 Lots of theories out there one key man risk Izz Elon Musk distracted The second how is he going to fund that equity portion Will he sell down some of his Tesla shares or some other asset that he owns to finance this Let's take a look at his net wealth right because he is the world's richest man but only on paper He's only got $3 billion approximately of cash cash equivalents Most of his wealth up here Tesla stock and then another $75 billion of options that he doesn't have liquid access to So that's one theory either he'll sell down some of those Tesla shares or borrow against them but a lot of questions still remain could he bring in partners as part of the equity investment as co investors because according to sources he was vetting potential partners as recently as this weekend Either way you bring up kind of the relationship between Twitter and Tesla shares over the last few weeks as this has played out Twitter kind of rising optimistically towards the $54 20 cents per share offer price but Tesla holding and dropping off with that concern him All right Ed thank you Let's dig into this further Roger mcnamee who knows a thing or two about social media He's the author of zucked waking up to the Facebook catastrophe and a long time tech investor roger I know you were listening to our conversation earlier with Tim O'Brien and David Sachs and you don't think this is about free speech at all Why Well I just think that the free speech conversation is off target That fundamentally when you introduce algorithms and the amplification of content for attention as Twitter does what happens is that the algorithms are going to seek out the content that produces the greatest reaction which is generally speaking going to be the most extreme content Now let's put not just political content but all exchange content And it's going to give that disproportionate weight And so the real conversation we need to be having is not in my opinion everybody should be allowed on a platform like Twitter But no one should have the benefit of being able to have their stuff amplified disproportionately to crowd out of their voices because I think that's incredibly dangerous Let's use the example of Donald Trump should Donald Trump be kept on Twitter even if he is spreading lies and misinformation Well to be clear I think that Twitter has a responsibility all these Internet platforms have a responsibility to try to protect democracy Something that they have done a truly horrific job And as Twitter is currently constructed it's not just Trump It's all kinds of extreme voices across the entire spectrum are drowning out the thoughtful and factual things that might also be there And at the end of the day by framing it in a political terms like that I think we really do it disservice to this conversation Okay but it is a great example It is a concrete example that I think helps to For sure And we got our point Right I would not allow him back on I would not allow on many of the incredibly harmful people there I mean the problem with Twitter there's two core problems and they both represent opportunities for Elon Musk The first is that even though it started with one of the best ideas ever in the history of the Internet Twitter is never successfully monetized itself The company I believe still has a huge net loss cumulatively since it was started And given its influence with politicians celebrities and journalists Twitter should have been able to find a path to much greater profitability than it's had It's so influential The second part of the problem here is that they have a set of terms of service that are designed to protect people on the platform And they have done a horrible job of moderation and a horrible job of enforcing the terms I actually give them credit for trying particularly in 2020 to do a better job of that But I think they really have not done a good job COVID disinformation is a great example of something that just ran rampant There's also an enormous amount of abuse of groups that are shall we say out of power right So particularly people of color women and others who use Twitter in order to have a voice I mean it's one of the great things that Twitter does is it gives those who are out of power of voice The problem is that the algorithm also allowed those who want to suppress those voices to do that suppression very effectively So roger there's a lot we don't know about Elon Musk's intentions for Twitter He may not know exactly what he wants to change I'd love to hear your prediction How does Twitter look different under Elon Musk in let's say two years I don't honestly know because here's what's really weird about this deal So Musk came to Twitter's board What a little bit more than a week ago With a proposal to buy the company yet he had no financing no plan and he had not filed the proper paperwork with the securities exchange commission So the board reacted as one would expect It engaged a poison pill and it said slow down And then a few days later all of that gets reversed And the deal is suddenly accepted And there is financing now but as far as I know no plan has been shared with shareholders And the filings issues with the SEC have not been resolved to my acknowledge And so you have.

Elon Musk Twitter Tesla Emily Chang Izz Elon Musk Roger mcnamee David Sachs Donald Trump Bloomberg Lowe Tim O'Brien San Francisco
"roger mcnamee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:08 min | 1 year ago

"roger mcnamee" Discussed on Bloomberg Radio New York

"Meetings with ministerial colleagues and others in addition to my duties in this house I shall have further such meetings later today My constituent Carol ridgeway faces 8 weeks of stress and worry as she waits for an urgent appointment at the local breast clinic in North Wales Yet despite the pandemic 85% of patients in England wait only two weeks for their urgent suspected cancer The prime minister is going to face a series of questions now in parliament Tom and this is going to get pretty heated over what happened in spring of last year And for a lot of people reducing to this as just a drink in the garden with colleagues For a lot of people around that period Tom who lost loved ones couldn't attend funerals Couldn't meet the birth of their grandchildren Their babies This has been a massive massive issue in this country and will continue to be so in the coming weeks and months John is there an American equivalent I just don't see it at the white can't imagine President Biden going through this exercise but do you see an American equivalent No right now No Tom Not right now no The prime minister is going to face some questions for the next 30 minutes or so and tell him if there's any headlines we'll bring them to you The main event stateside 8 30 Eastern Time CPI in America from the pandemic to the inflation pressure we've seen off the back of it Lisa 7% is the estimate Yeah and how much is it actually changed the narrative which already is for a stickier pace of inflation How much is it going to be the 7 hand all the sort of shock factor of seeing inflation at that high of a rate versus the underlying components I keep going back to this How much do we need to see a transmission from the goods inflation to the services inflation in order to give rise to the stickier feel that we keep hearing The fed conversation that makes it a big way as well Let's get to the equity market at 5 40 S&P up a little more than a tenth of 1% on the NASDAQ 132 of two tenths of 1% yields on ten four 28 yield tire by almost a basis point Joining us now Sebastian pays CIO and head of global multi asset at hero price Sebastian let's start with that inflation print a little bit later this morning What are you looking for sir We have a range of view at our firm and pretty much everywhere about inflation 7% looks reasonable That's the consensus When we discuss in our asset allocation committee where are we expect to CPI to print year over year at the end of this year Our base case is 3% but we think risks are skewed to the upside And for that you really have to watch the supply chain factors And they're pretty confusing Jonathan right The Baltic dry index is actually down 60% from its peak the cost of shipping stuff But then you have a hundred ships in the ports of Los Angeles You have only Kron creating more and more issues Jonathan you mentioned people not showing up for work at the airport A third of the workforce for united mentioned this earlier So the supply chain remains a puzzle the New York fed is put out an index of supply chain pressures and their narrative is that it speaking but when you look at the data I don't see it I have it on the Bloomberg It just keeps going up So we think the risks are skewed to the upside and we've positioned our portfolios to be short duration Sebastian page the heritage of tyrol price is absolutely unique You guys invented growth you invented sector analysis on the buy side I go back to roger mcnamee and what you guys did in technology T wrote price right now in honor of roger mcnamee on American technology and American growth stocks Am I long At the moment in our asset allocation portfolios we have tilted towards value and we like being long cyclicality because it's a relative valuation call and also a macro call based on the economy Now Tom I got to be really really clear We still believe in the role of technology We're still diversified between growth and value But as asset allocators we think the cyclicality is so underpriced all time extremes in terms of relative valuations It's already sort of playing out so far this year And you have rising rates which is good for financials or analysts on the platform or upgrading financials So that's our position tactically Sebastian how much is that call for value Hinge on this idea that the fed will not be forced to move too quickly will not necessarily become or move to a restrictive monetary policy and that the data will cooperate and allow them to do so You know it's interesting because over the last few weeks Visa we've priced in quite a bit of additional fed hawkishness right Now we're talking about four rate hikes If I go on wi RP on my Bloomberg I see three and a half rate hikes for 2022 Powell yesterday confirmed or talked about balance sheet runoff and the markets reacted okay to that So the question is is the fed going to be hawkish or not It's more can the feds still surprise on the hawkish side relative to what's priced in at the moment Our views the direction of travel for rates is higher this year and that's why we're short duration But what we really are looking at right now are the long-term dots There are two and a half percent They've been at two and a half percent since 2019 Will the long term dots change And that could be the kind of tailor risk hawkish surprise It's very hard to bring those up because we've piled on so much debt over time We had 10 trillion treasuries outstanding around the global financial crisis We have 30 trillion treasuries outstanding now How have we done that We've done that by lowering rates such that death service If you plotted on the same chart it's almost a flat line So you get trapped every time you add debt and we've added a lot in terms of government debt You handcuff yourself in terms of where the rates can end up So that is where the surprises could come but nonetheless our positioning right now is towards longer rates High rates Sebastian page of T Rowe price Really summarizing the big debate right now in the bond market and on the dot plot Sebastian thank you sir Thank you very much What a bill Dudley called it earlier this week Lisa the long dot the 2024 dart to be precise You think he called it fantasyland Yeah fantastic That basically they thought that it was going to stay so low However on the other side you have Stephen major and going back to that note this morning where he talked about perhaps going along the short end and seeing some value there And seeing a further sell off at the long end that's a tactical trade He still has the same view that we just heard from Sebastian page that long-term rates can not go up that high simply because of the amount of debt and how difficult it is to get to that higher terminal rate no longer term basis This is the.

Tom roger mcnamee Carol ridgeway local breast clinic President Biden North Wales Jonathan fed Kron Lisa England tyrol cancer Bloomberg
"roger mcnamee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:43 min | 1 year ago

"roger mcnamee" Discussed on Bloomberg Radio New York

"With David Weston on Bloomberg radio Facebook was a blower Francis hall gun a former product manager in the civic integrity unit testified this week before Congress about some of the dangers that Facebook poses Facebook knows that it's amplification algorithms things like engagement based ranking on Instagram can lead children from very innocuous topics like healthy recipes I think all of us could eat a little more healthy All the way from just something innocent like healthy recipes to anorexia promoting content over a very short period of time For his takeaways from the testimony I talked to early Facebook investor roger mcnamee cofounder of elevation partners and author of zucked waking up to the Facebook catastrophe Roger told me that Francis haugen had an extraordinary amount of access in her role at Facebook She was absolutely at the center civic integrity was responsible for addressing harms to users So she was in exactly the right place She's just utterly convincing in everything she does I thought her testimony was exceptional I can not tell you how much of a relief it is to me that she has come forward because we have known about these issues but what her work has done in bringing out tens of thousands of pages of documents is to eliminate Facebook's argument that they didn't know It is incredibly clear from these documents that Facebook crafted a business model based on attention It was designed to maximize profits at any cost which is an understandable thing in capitalism So it's completely understandable that it would work that way But at the same time in this case the harm that was done to public health to democracy to teenage girls has been incalculable and the core point is they knew it was there They knew it was going to happen It was they were warned about it and they chose to just continue to optimize profits And again in capitalism that's understandable but it really does cry out for regulation the same way that when the food industry was unsafe in 1906 we created the food Drug Administration when chemicals were unsafe in the 50s we created the environmental laws This came to our attention in part because of The Wall Street Journal reporting based on the documents that miss Hogan and it had to do with children and with the Facebook new or believed about the possible risks to children What do we know about that And what does Facebook know So Facebook has known this since the day it brought Instagram The goal of Instagram from the beginning was to make young girls look better than they really are And through that process to by making the look better the effectively create a whole culture of envy And that is the business model And there's nothing you can do to change that It's been there from the David and scream was created and it is a threat to the psychological well-being of an entire generation of young women and the key thing to understand is this is not a business model that exists only at Facebook It exists in various forms at Google that Amazon and Microsoft and it's now being adopted throughout the economy How much of this is because of the algorithms and the way they're designed Well a 100% of it is The way to think about this is that this is we're dealing with a business model based on attention and the best way to get people's attention is either the scare the more outrage So roger it really raises in my mind the question is is this a bug or a fix I mean could they fix this without really substantially undermining their business model No No no you can't You can still have Facebook and Instagram But you can't have them at their current profit levels because profit maximization is what essentially leads to all the harms What can be done by Congress or by creation of an agency you mentioned before perhaps an agency I think we already have enough information to design And we need three classes of things We need to think about safety and there I think something that looks like the FDA that simply looks at every technology product On a regular basis not just once but continuously to make sure that they are safe And it effectively creates a way for consumers to go to the government and say I'm sorry this is not working out for me here are the reasons why.

Facebook David Weston Francis hall roger mcnamee Francis haugen elevation partners Instagram food Drug Administration Bloomberg anorexia Congress Roger The Wall Street Journal Hogan Amazon David Microsoft Google roger
"roger mcnamee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:32 min | 1 year ago

"roger mcnamee" Discussed on Bloomberg Radio New York

"Haugen a former product manager in the civic integrity unit testified this week before Congress about some of the dangers that Facebook poses Facebook knows that it's amplification algorithms things like engagement based ranking on Instagram can lead children from very innocuous topics like healthy recipes I think all of us could eat a little more healthy All the way from just something innocent like healthy recipes to anorexia promoting content over a very short period of time For his takeaways from the testimony I talked to early Facebook investor roger mcnamee cofounder of elevation partners and author of zucked waking up to the Facebook catastrophe Roger told me that Francis haugen had an extraordinary amount of access in her role at Facebook She was absolutely at the center civic integrity was responsible for addressing harms to users So she was in exactly the right place She's just utterly convincing in everything she does I thought her testimony was exceptional I can not tell you how much for relief it is to me that she has come forward because we have known about these issues but what her work has done in bringing out tens of thousands of pages of documents is to eliminate Facebook's argument that they didn't know It is incredibly clear from these documents that Facebook crafted a business model based on attention It was designed to maximize profits at any cost which is an understandable thing in capitalism So it's completely understandable that it would work that way But at the same time in this case the harm that was done to public health to democracy to teenage girls has been incalculable and the core point is they knew it was there In various forms at Google at Amazon at Microsoft and it's now being adopted throughout the economy How much of this is because of the algorithms and the way they're designed A 100% of it is The way to think about this is that this is we're dealing with a business model based on attention and the best way to get people's attention is either the scare the more outrage So roger it really raises in my mind the question is is this a bug or a fix I mean could they fix this without really substantially undermining their business model No No no You can't You can still have Facebook and Instagram But you can't have them at their current profit levels because profit maximization is what essentially leads to all the harms What can be done by Congress or by creation of an agency you mentioned before perhaps an agency I think we already have enough information to design We need three classes of things We need to think about safety and there I think something that looks like the FDA that simply looks at every technology product On a regular basis not just once but continuously to make sure that they are safe And it effectively creates a way for consumers to go to the government and say I'm sorry this is not working out for me here are.

Facebook roger mcnamee Francis haugen Haugen Instagram elevation partners anorexia Congress Roger Amazon Microsoft Google roger FDA government
"roger mcnamee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:37 min | 1 year ago

"roger mcnamee" Discussed on Bloomberg Radio New York

"A blower Francis haugen a former product manager in the civic integrity unit testified this week before Congress about some of the dangers that Facebook poses Facebook knows that it's amplification algorithms things like engagement based ranking on Instagram can lead children from very innocuous topics like healthy recipes I think all of us can eat a little more healthy All the way from just something innocent like healthy recipes to anorexia promoting content over a very short period of time For his takeaways from the testimony I talked to early Facebook investor roger mcnamee Cofounder of elevation partners and author of zucked waking up to the Facebook catastrophe Roger told me that Francis haugen had an extraordinary amount of access in her role at Facebook She was absolutely at the center civic integrity was responsible for addressing harms to users So she was in exactly the right place She's just utterly convincing in everything she does I thought her testimony was exceptional I can not tell you how much of a relief it is to me that she has come forward because we have known about these issues but what her work has done in bringing out tens of thousands of pages of documents is to eliminate Facebook's argument that they didn't know It is incredibly clear from these documents that Facebook crafted a business model based on attention It was designed to maximize profits at any cost which is an understandable thing in capitalism So it's completely understandable that it would work that way But at the same time in this case the harm that was done to public health to democracy to teenage girls has been incalculable and the core point is they knew it was there They knew it was going to happen It was they were warned about it and they chose to just continue to optimize profits And again in capitalism that's understandable but it really does cry out for regulation the same way that when the food industry was unsafe in 1906 we created the food Drug Administration when chemicals were unsafe in the 50s we created the environmental laws This came to our attention in part because of The Wall Street Journal reporting based on the documents that miss hug and had you with children and what the Facebook knew or believed about the possible risks to children What do we know about that And what does Facebook know So Facebook has known this since the day it bought Instagram The goal of Instagram from the beginning was to make young girls look better than they really are And through that process to by making the look better the effectively create a whole culture of envy And that is the business model And there's nothing you can do to change that It's been there from the David and scream was created and it is a threat to the psychological well-being of an entire generation of young women and the key thing to understand is this is not a business model that exists only at Facebook It exists in various forms at Google at Amazon at Microsoft And it's now being adopted throughout the economy How much of this is because of the algorithms and the way they're designed A 100% of it is The way to think about this is that this is we're dealing with a business model based on attention and the best way to get people's attention is either the scare the more outrage So roger it really raises in my mind the question is is this a bugger effect I mean could they fix this without really substantially undermining their business model No No no you can't You can still have Facebook and Instagram But you can't have them at their current profit levels because profit maximization is what essentially leads to all the harms What can be done by Congress or by creation of an agency you mentioned before perhaps an agency I think we already have enough information to design We need three classes of things We need to think about safety and there I think something that looks like the FDA that simply looks at every technology product On a regular basis not just once but continuously to make sure that they are safe And it effectively creates a way for consumers to go to the government and say I'm sorry this is not working out for me here are.

Facebook Francis haugen civic integrity unit roger mcnamee elevation partners food Drug Administration anorexia Congress Roger The Wall Street Journal Amazon David Microsoft Google roger Instagram FDA
"roger mcnamee" Discussed on Democracy Now! Audio

Democracy Now! Audio

07:18 min | 1 year ago

"roger mcnamee" Discussed on Democracy Now! Audio

"Safety facebook. Whistle blower francis hogan went on to urge lawmakers to take action against facebook. Facebook wants you to believe that the problems we're talking about our unsolvable they want you to believe in false choices. They want you to believe that you must choose between facebook full of divisive in extreme content or losing one of the most important values. Our country was founded on free speech. That you must choose between public oversight of facebook's choices and your personal privacy that to be able to share fun photos of your kids with old friends you must also be inundated with anger driven reality. They want you to believe that this is just part of the deal. I'm here today to tell you. That's not true. These problems are solvable. A safer free speech respecting more enjoyable. Social media is possible. But there's one thing that. I hope everyone takes away from. These disclosures is that facebook and change. But it's clearly not going to do so on its own. My fears that without action. Divisive and extremists behaviors. We see today are only the beginning. What we saw in me on mar and are now seen in. Ethiopia are only the opening chapters of a story so terrifying. No one wants to read the underbid. A tuesday's hearing the senate subcommittee chair democratic connecticut senator richard blumenthal compared facebook to big tobacco and big tech faces that big tobacco jaw dropping. Moment of truth. It is documented. Prove it facebook knows its products can be addictive and toxic to children are. Children are the ones who are victims today. Looking at themselves in the mirror. Feel doubt and insecurity marks up. A bird ought to be looking at himself in her today and yet rather than taking responsibility and showing leadership mr zuckerberg is going. Sailing is new modus operandi. No apologies no admission. No action nothing to see here. Mark zuckerberg you need to come before this committee. You need to explain to francis hogan to us to the world and to the parents of america what you were doing. And why you get hours. After facebook whistle blower francis. How testified facebook. Ceo mark zuckerberg responded in a message. Posted on facebook. Writing quote at the heart of these accusations. Is this idea that we prioritize prophet over safety and wellbeing. That's just not true. Zakar went on to write the argument that we deliberately push content that makes people angry for profit is deeply logical. We make money from ads and advertisers consistently tell us they don't want their ads next to harmful or angry content. He said to talk more about face. But we're joined by two guests. In san francisco. Roger mcnamee is back with us. Early investor in facebook mentor to the ceo. Mark zuckerberg then went on to write the book duct waking up to the facebook. Catastrophe and in los angeles. We're joined by jessica solace co-ceo of the media advocacy group free press and co-founder of change the terms coalition that works to disrupt hate online. She's also member of the real facebook oversight board for those of you who watch democracy yesterday. These were our two guests leading up to the hearing and we thought we'd have you back to see what you were most affected by. What were you most surprised by roger. Mcnamee let's begin with you today. You know mark zuckerberg well. You were his mentor. Early investor in facebook talk about how significant this testimony is. Can you explain one thing. What is this issue of the algorithm. How does it give the lie to what zuckerberg said. We're not trying to increase. Hate and anger so the thing here is there to basic problems that we're dealing with. One is the culture of american business where. Ceo's are told to prioritize shareholder value at all costs and it's a little bit like the excuse. I'm just following orders right. That absolves essentially all manner sense. And that's a big part of the problem at facebook. Essentially think about the business this way. Advertising is the core of their economy. They get that through attention and facebook created a global network where people shared things with their intimate friends. And what happened was facebook was the first medium on earth to get access to what i call the inner self the characteristics of people they would normally only disclose to their most intimate partners friends family and in marketing. That stuff is gold and the thing is it's not just valuable traditional markers it's incredibly valuable to scammers and people who are doing things that would otherwise be legal. And if you think about what. Facebook did by connecting the whole world. It brought the world of scams into the mainstream. So when mark says something like well. You know our advertisers consistently tell us they don't want to be by know hostile. Contact the problem with that. Is that some of their biggest most important. Advertisers are the actual people who spread dangerous content. So if you think about stop the steel that was an advertising campaign if you think about anti vacs. Those people are advertisers. And so the issue here for baseball is they've created. This network is essentially an unpatrolled commercial. Place that preys on people's emotions because the best way to get people's attention is to trigger fear or outrage and so the algorithms don't sit there going. I'm looking for fear outrage what they do is they're looking for things that get you to react. And it's simply a fact of human nature of human psychology that fear and outrage of the most effective way to do that and that's why francis hogan's testimonies so devastating because she is an expert in algorithm design. She is completely credible on this issue and the stuff that she shared was not stuff. That was her opinion. It was research created by the best people. Facebook at the direction of facebook's management and so when facebook comes out after saying she only worked there for two years and she wasn't any of the meetings none of that is relevant and it sort of classic deflection by facebook. And i would argue that facebook's responses yesterday really built francis hogan's credibility because if you sat there after that here just ask yourself who did you find more credible.

facebook francis hogan Mark zuckerberg mr zuckerberg Ceo mark zuckerberg Zakar Roger mcnamee jessica solace free press and co richard blumenthal Ethiopia connecticut senate Mcnamee francis zuckerberg san francisco america roger los angeles
"roger mcnamee" Discussed on Democracy Now! Audio

Democracy Now! Audio

07:18 min | 1 year ago

"roger mcnamee" Discussed on Democracy Now! Audio

"Safety facebook. Whistle blower francis hogan went on to urge lawmakers to take action against facebook. Facebook wants you to believe that the problems we're talking about our unsolvable they want you to believe in false choices. They want you to believe that you must choose between facebook full of divisive in extreme content or losing one of the most important values. Our country was founded on free speech. That you must choose between public oversight of facebook's choices and your personal privacy that to be able to share fun photos of your kids with old friends you must also be inundated with anger driven reality. They want you to believe that this is just part of the deal. I'm here today to tell you. That's not true. These problems are solvable. A safer free speech respecting more enjoyable. Social media is possible. But there's one thing that. I hope everyone takes away from. These disclosures is that facebook and change. But it's clearly not going to do so on its own. My fears that without action. Divisive and extremists behaviors. We see today are only the beginning. What we saw in me on mar and are now seen in. Ethiopia are only the opening chapters of a story so terrifying. No one wants to read the underbid. Tuesday's hearing the senate subcommittee chair democratic connecticut. Senator richard blumenthal compared facebook to big tobacco and big tech faces. That big tobacco jaw dropping. Moment of truth it is documented. Prove it facebook knows its products can be addictive and toxic to children are. Children are the ones who are victims today. Looking at themselves in the mirror feel doubt and insecurity mark zuckerberg ought to be looking at himself in her today and yet rather than taking responsibility and showing leadership. Mr zuckerberg is going. Sailing is new modus operandi. No apologies. No admission no action. Nothing to see here mark zuckerberg you need to come before this committee. You need to explain to francis hogan to us to the world and to the parents of america what you were doing. And why you get hours. After facebook whistle blower francis. How testified facebook. Ceo mark zuckerberg responded in a message. Posted on facebook. Writing quote at the heart of these accusations. Is this idea that we prioritize prophet over safety and wellbeing. That's just not true. Zakar went on to write the argument that we deliberately push content that makes people angry for profit is deeply logical. We make money from ads and advertisers consistently tell us they don't want their ads next to harmful or angry content. He said to talk more about face. But we're joined by two guests. In san francisco. Roger mcnamee is back with us. Early investor in facebook mentor to the ceo. Mark zuckerberg then went on to write the book duct waking up to the facebook. Catastrophe and in los angeles. We're joined by jessica solace co-ceo of the media advocacy group free press and co-founder of change the terms coalition that works to disrupt hate online. She's also member of the real facebook oversight board for those of you who watch democracy yesterday. These were our two guests leading up to the hearing and we thought we'd have you back to see what you were most affected by. What were you most surprised by roger. Mcnamee let's begin with you today. You know mark zuckerberg well. You were his mentor. Early investor in facebook talk about how significant this testimony is. Can you explain one thing. What is this issue of the algorithm. How does it give the lie to what zuckerberg said. We're not trying to increase. Hate and anger so the thing here is there to basic problems that we're dealing with. One is the culture of american business where. Ceo's are told to prioritize shareholder value at all costs and it's a little bit like the excuse. I'm just following orders right. That absolves essentially all manner sense. And that's a big part of the problem at facebook. Essentially think about the business this way. Advertising is the core of their economy. They get that through attention and facebook created a global network where people shared things with their intimate friends. And what happened was facebook was the first medium on earth to get access to what i call the inner self the characteristics of people they would normally only disclose to their most intimate partners friends family and in marketing. That stuff is gold and the thing is it's not just valuable traditional markers it's incredibly valuable to scammers and people who are doing things that would otherwise be legal. And if you think about what. Facebook did by connecting the whole world. It brought the world of scams into the mainstream. So when mark says something like well. You know our advertisers consistently tell us they don't want to be by know hostile. Contact the problem with that. Is that some of their biggest most important. Advertisers are the actual people who spread dangerous content. So if you think about stop the steel that was an advertising campaign if you think about anti vacs. Those people are advertisers. And so the issue here for baseball is they've created. This network is essentially an unpatrolled commercial. Place that preys on people's emotions because the best way to get people's attention is to trigger fear or outrage and so the algorithms don't sit there going. I'm looking for fear outrage what they do is they're looking for things that get you to react. And it's simply a fact of human nature of human psychology that fear and outrage of the most effective way to do that and that's why francis hogan's testimonies so devastating because she is an expert in algorithm design. She is completely credible on this issue and the stuff that she shared not stuff. That was her opinion. It was research created by the best people. Facebook at the direction of facebook's management and so when facebook comes out after saying she only worked there for two years and she wasn't any of the meetings none of that is relevant and it sort of classic deflection by facebook. And i would argue that facebook's responses yesterday really built francis hogan's credibility because if you sat there after that here just ask yourself who did you find more credible.

facebook francis hogan Mark zuckerberg Senator richard blumenthal Mr zuckerberg Ceo mark zuckerberg Zakar Roger mcnamee jessica solace free press and co Ethiopia connecticut senate Mcnamee francis zuckerberg san francisco america roger los angeles
"roger mcnamee" Discussed on Democracy Now! Audio

Democracy Now! Audio

07:18 min | 1 year ago

"roger mcnamee" Discussed on Democracy Now! Audio

"Safety facebook. Whistle blower francis hogan went on to urge lawmakers to take action against facebook. Facebook wants you to believe that the problems we're talking about our unsolvable they want you to believe in false choices. They want you to believe that you must choose between facebook full of divisive in extreme content or losing one of the most important values. Our country was founded on free speech. That you must choose between public oversight of facebook's choices and your personal privacy that to be able to share fun photos of your kids with old friends you must also be inundated with anger driven reality. They want you to believe that this is just part of the deal. I'm here today to tell you. That's not true. These problems are solvable. A safer free speech respecting more enjoyable. Social media is possible. But there's one thing that. I hope everyone takes away from. These disclosures is that facebook and change. But it's clearly not going to do so on its own. My fears that without action divisive and extremist behaviors. We see today are only the beginning. What we saw in me on mar and are now seen in. Ethiopia are only the opening chapters of a story so terrifying. No one wants to read the underbid. Tuesday's hearing the senate subcommittee chair democratic connecticut. Senator richard blumenthal compared facebook to big tobacco and big tech faces. That big tobacco jaw dropping. Moment of truth it is documented. Prove it facebook knows its products can be addictive and toxic to children are. Children are the ones who are victims today. Looking at themselves in the mirror feel doubt and insecurity mark zuckerberg ought to be looking at himself in her today and yet rather than taking responsibility and showing leadership. Mr zuckerberg is going. Sailing is new modus operandi. No apologies. No admission no action. Nothing to see here mark zuckerberg you need to come before this committee. You need to explain to francis hogan to us to the world and to the parents of america what you were doing. And why you get hours. After facebook whistle blower francis. How testified facebook. Ceo mark zuckerberg responded in a message. Posted on facebook. Writing quote at the heart of these accusations. Is this idea that we prioritize prophet over safety and wellbeing. That's just not true. Zakar went on to write the argument that we deliberately push content that makes people angry for profit is deeply logical. We make money from ads and advertisers consistently tell us they don't want their ads next to harmful or angry content. He said to talk more about face. But we're joined by two guests. In san francisco. Roger mcnamee is back with us. Early investor in facebook mentor to the ceo. Mark zuckerberg then went on to write the book duct waking up to the facebook. Catastrophe and in los angeles. We're joined by jessica solace co-ceo of the media advocacy group free press and co-founder of change the terms coalition that works to disrupt hate online. She's also member of the real facebook oversight board for those of you who watch democracy yesterday. These were our two guests leading up to the hearing and we thought we'd have you back to see what you were most affected by. What were you most surprised by roger. Mcnamee let's begin with you today. You know mark zuckerberg well. You were his mentor. Early investor in facebook talk about how significant this testimony is. Can you explain one thing. What is this issue of the algorithm. How does it give the lie to what zuckerberg said. We're not trying to increase. Hate and anger so the thing here is there to basic problems that we're dealing with. One is the culture of american business where. Ceo's are told to prioritize shareholder value at all costs and it's a little bit like the excuse. I'm just following orders right. That absolves essentially all manner sense. And that's a big part of the problem at facebook. Essentially think about the business this way. Advertising is the core of their economy. They get that through attention and facebook created a global network where people shared things with their intimate friends. And what happened was facebook was the first medium on earth to get access to what i call the inner self the characteristics of people they would normally only disclose to their most intimate partners friends family and in marketing. That stuff is gold and the thing is it's not just valuable traditional markers it's incredibly valuable to scammers and people who are doing things that would otherwise be legal. And if you think about what. Facebook did by connecting the whole world. It brought the world of scams into the mainstream. So when mark says something like well. You know our advertisers consistently tell us they don't want to be by know hostile. Contact the problem with that. Is that some of their biggest most important. Advertisers are the actual people who spread dangerous content. So if you think about stop the steel that was an advertising campaign if you think about anti vacs. Those people are advertisers. And so the issue here for baseball is they've created. This network is essentially an unpatrolled commercial. Place that preys on people's emotions because the best way to get people's attention is to trigger fear or outrage and so the algorithms don't sit there going. I'm looking for fear outrage what they do is they're looking for things that get you to react. And it's simply a fact of human nature of human psychology that fear and outrage of the most effective way to do that and that's why francis hogan's testimonies so devastating because she is an expert in algorithm design. She is completely credible on this issue and the stuff that she shared stuff. That was her opinion. It was research created by the best people. Facebook at the direction of facebook's management and so when facebook comes out after saying she only worked there for two years and she wasn't any of the meetings none of that is relevant and it sort of classic deflection by facebook. And i would argue that facebook's responses yesterday really built francis hogan's credibility because if you sat there after that here just ask yourself who did you find more credible.

facebook francis hogan mark zuckerberg Senator richard blumenthal Mr zuckerberg Ceo mark zuckerberg Zakar Roger mcnamee jessica solace free press and co Ethiopia connecticut senate Mcnamee francis zuckerberg san francisco america roger los angeles
"roger mcnamee" Discussed on Democracy Now! Audio

Democracy Now! Audio

07:18 min | 1 year ago

"roger mcnamee" Discussed on Democracy Now! Audio

"Safety facebook. Whistle blower francis hogan went on to urge lawmakers to take action against facebook. Facebook wants you to believe that the problems we're talking about our unsolvable they want you to believe in false choices. They want you to believe that you must choose between facebook full of divisive in extreme content or losing one of the most important values. Our country was founded on free speech. That you must choose between public oversight of facebook's choices and your personal privacy that to be able to share fun photos of your kids with old friends you must also be inundated with anger driven reality. They want you to believe that this is just part of the deal. I'm here today to tell you. That's not true. These problems are solvable. A safer free speech respecting more enjoyable. Social media is possible. But there's one thing that. I hope everyone takes away from. These disclosures is that facebook and change. But it's clearly not going to do so on its own. My fears that without action. Divisive and extremists behaviors. We see today are only the beginning. What we saw in me on mar and are now seen in. Ethiopia are only the opening chapters of a story so terrifying. No one wants to read the underbid. A tuesday's hearing the senate subcommittee chair democratic connecticut senator richard blumenthal compared facebook to big tobacco and big technol- faces that big tobacco jaw dropping. Moment of truth. It is documented. Prove it facebook knows its products can be addictive and toxic to children are. Children are the ones who are victims today. Looking at themselves in the mirror feel doubt and insecurity mark zuckerberg ought to be looking at himself in her today and yet rather than taking responsibility and showing leadership. Mr zuckerberg is going. Sailing is new modus operandi. No apologies. No admission no action. Nothing to see here mark zuckerberg you need to come before this committee. You need to explain to francis hogan to us to the world and to the parents of america what you were doing. And why you get hours. After facebook whistle blower francis. How testified facebook. Ceo mark zuckerberg responded in a message. Posted on facebook. Writing quote at the heart of these accusations. Is this idea that we prioritize prophet over safety and wellbeing. That's just not true. Zakar went on to write the argument that we deliberately push content that makes people angry for profit is deeply logical. We make money from ads and advertisers consistently tell us they don't want their ads next to harmful or angry content. He said to talk more about face. But we're joined by two guests. In san francisco. Roger mcnamee is back with us. Early investor in facebook mentor to the ceo. Mark zuckerberg then went on to write the book duct waking up to the facebook. Catastrophe and in los angeles. We're joined by jessica solace co-ceo of the media advocacy group free press and co-founder of change the terms coalition that works to disrupt hate online. She's also member of the real facebook oversight board for those of you who watch democracy yesterday. These were our two guests leading up to the hearing and we thought we'd have you back to see what you were most affected by. What were you most surprised by roger. Mcnamee let's begin with you today. You know mark zuckerberg well. You were his mentor. Early investor in facebook talk about how significant this testimony is. Can you explain one thing. What is this issue of the algorithm. How does it give the lie to what zuckerberg said. We're not trying to increase. Hate and anger so the thing here is there to basic problems that we're dealing with. One is the culture of american business where. Ceo's are told to prioritize shareholder value at all costs and it's a little bit like the excuse. I'm just following orders right. That absolves essentially all manner sense. And that's a big part of the problem at facebook. Essentially think about the business this way. Advertising is the core of their economy. They get that through attention and facebook created a global network where people shared things with their intimate friends. And what happened was facebook was the first medium on earth to get access to what i call the inner self the characteristics of people they would normally only disclose to their most intimate partners friends family and in marketing. That stuff is gold and the thing is it's not just valuable traditional markers it's incredibly valuable to scammers and people who are doing things that would otherwise be legal. And if you think about what. Facebook did by connecting the whole world. It brought the world of scams into the mainstream. So when mark says something like well. You know our advertisers consistently tell us. They don't want to be by hostile contact. The problem with that is that some of their biggest most important. Advertisers are the actual people who spread dangerous content. So if you think about stop the steel that was an advertising campaign if you think about anti vacs. Those people are advertisers. And so the issue here for baseball is they've created. This network is essentially an unpatrolled commercial. Place that preys on people's emotions because the best way to get people's attention is to trigger fear or outrage and so the algorithms don't sit there going. I'm looking for fear outrage what they do is they're looking for things that get you to react. And it's simply a fact of human nature of human psychology that fear and outrage of the most effective way to do that and that's why francis hogan's testimonies so devastating because she is an expert in algorithm design. She is completely credible on this issue and the stuff that she shared stuff. That was her opinion. It was research created by the best people. Facebook at the direction of facebook's management and so when facebook comes out after saying she only worked there for two years and she wasn't any of the meetings none of that is relevant and it sort of classic deflection by facebook. And i would argue that facebook's responses yesterday really built francis hogan's credibility because if you sat there after that here just ask yourself who did you find more credible.

facebook francis hogan mark zuckerberg Mr zuckerberg Ceo mark zuckerberg Zakar Roger mcnamee jessica solace free press and co richard blumenthal Ethiopia connecticut senate Mcnamee francis zuckerberg san francisco america roger los angeles
"roger mcnamee" Discussed on Democracy Now! Audio

Democracy Now! Audio

07:18 min | 1 year ago

"roger mcnamee" Discussed on Democracy Now! Audio

"Safety facebook. Whistle blower francis hogan went on to urge lawmakers to take action against facebook. Facebook wants you to believe that the problems we're talking about our unsolvable they want you to believe in false choices. They want you to believe that you must choose between facebook full of divisive in extreme content or losing one of the most important values. Our country was founded on free speech. That you must choose between public oversight of facebook's choices and your personal privacy that to be able to share fun photos of your kids with old friends you must also be inundated with anger driven reality. They want you to believe that this is just part of the deal. I'm here today to tell you. That's not true. These problems are solvable. A safer free speech respecting more enjoyable. Social media is possible. But there's one thing that. I hope everyone takes away from. These disclosures is that facebook and change. But it's clearly not going to do so on its own. My fears that without action. Divisive and extremists behaviors. We see today are only the beginning. What we saw in me on mar and are now seen in. Ethiopia are only the opening chapters of a story so terrifying. No one wants to read the underbid. Tuesday's hearing the senate subcommittee chair democratic connecticut. Senator richard blumenthal compared facebook to big tobacco and big tech faces. That big tobacco jaw dropping. Moment of truth it is documented. Prove it facebook knows its products can be addictive and toxic to children are. Children are the ones who are victims today. Looking at themselves in the mirror feel doubt and insecurity mark up a ought to be looking at himself in her today and yet rather than taking responsibility and showing leadership. Mr zuckerberg is going. Sailing is new modus operandi. No apologies no admission. No action nothing to see here. Mark zuckerberg you need to come before this committee. You need to explain to francis hogan to us to the world and to the parents of america what you were doing. And why you get hours. After facebook whistle blower francis. How testified facebook. Ceo mark zuckerberg responded in a message. Posted on facebook. Writing quote at the heart of these accusations. Is this idea that we prioritize prophet over safety and wellbeing. That's just not true. Zakar went on to write the argument that we deliberately push content that makes people angry for profit is deeply logical. We make money from ads and advertisers consistently tell us they don't want their ads next to harmful or angry content. He said to talk more about face. But we're joined by two guests. In san francisco. Roger mcnamee is back with us. Early investor in facebook mentor to the ceo. Mark zuckerberg then went on to write the book duct waking up to the facebook. Catastrophe and in los angeles. We're joined by jessica solace co-ceo of the media advocacy group free press and co-founder of change the terms coalition that works to disrupt hate online. She's also member of the real facebook oversight board for those of you who watch democracy yesterday. These were our two guests leading up to the hearing and we thought we'd have you back to see what you were most affected by. What were you most surprised by roger. Mcnamee let's begin with you today. You know mark zuckerberg well. You were his mentor. Early investor in facebook talk about how significant this testimony is. Can you explain one thing. What is this issue of the algorithm. How does it give the lie to what zuckerberg said. We're not trying to increase. Hate and anger so the thing here is there to basic problems that we're dealing with. One is the culture of american business where. Ceo's are told to prioritize shareholder value at all costs and it's a little bit like the excuse. I'm just following orders right. That absolves essentially all manner sense. And that's a big part of the problem at facebook. Essentially think about the business this way. Advertising is the core of their economy. They get that through attention and facebook created a global network where people shared things with their intimate friends. And what happened was facebook was the first medium on earth to get access to what i call the inner self the characteristics of people they would normally only disclose to their most intimate partners friends family and in marketing. That stuff is gold and the thing is it's not just valuable traditional markers it's incredibly valuable to scammers and people who are doing things that would otherwise be illegal and if you think about what. Facebook did by connecting the whole world. It brought the world of scams into the mainstream. So when mark says something like well. You know our advertisers consistently tell us they don't want to be by know hostile. Contact the problem with that. Is that some of their biggest most important. Advertisers are the actual people who spread dangerous content. So if you think about stop the steel that was an advertising campaign if you think about anti vacs. Those people are advertisers. And so the issue here for baseball is they've created. This network is essentially an unpatrolled commercial. Place that preys on people's emotions because the best way to get people's attention is to trigger fear or outrage and so the algorithms don't sit there going. I'm looking for fear outrage what they do is they're looking for things that get you to react. And it's simply a fact of human nature of human psychology that fear and outrage of the most effective way to do that and that's why francis hogan's testimonies so devastating because she is an expert in algorithm design. She is completely credible on this issue and the stuff that she shared was not stuff. That was her opinion. It was research created by the best people. Facebook at the direction of facebook's management and so when facebook comes out after saying she only worked there for two years and she wasn't any of the meetings none of that is relevant and it sort of classic deflection by facebook. And i would argue that facebook's responses yesterday really built francis hogan's credibility because if you sat there after that here just ask yourself who did you find more credible.

facebook francis hogan Mark zuckerberg Senator richard blumenthal Mr zuckerberg Ceo mark zuckerberg Zakar Roger mcnamee jessica solace free press and co Ethiopia connecticut senate Mcnamee francis zuckerberg san francisco america roger los angeles
"roger mcnamee" Discussed on THIS IS DEMOCRACY

THIS IS DEMOCRACY

07:18 min | 1 year ago

"roger mcnamee" Discussed on THIS IS DEMOCRACY

"Safety facebook. Whistle blower francis hogan went on to urge lawmakers to take action against facebook. Facebook wants you to believe that the problems we're talking about our unsolvable they want you to believe in false choices. They want you to believe that you must choose between facebook full of divisive in extreme content or losing one of the most important values. Our country was founded on free speech. That you must choose between public oversight of facebook's choices and your personal privacy that to be able to share fun photos of your kids with old friends you must also be inundated with anger driven reality. They want you to believe that this is just part of the deal. I'm here today to tell you. That's not true. These problems are solvable. A safer free speech respecting more enjoyable. Social media is possible. But there's one thing that. I hope everyone takes away from. These disclosures is that facebook and change. But it's clearly not going to do so on its own. My fears that without action. Divisive and extremists behaviors. We see today are only the beginning. What we saw in me on mar and are now seen in. Ethiopia are only the opening chapters of a story so terrifying. No one wants to read the underbid. A tuesday's hearing the senate subcommittee chair democratic connecticut senator richard blumenthal compared facebook to big tobacco and big tech faces that big tobacco jaw dropping. Moment of truth. It is documented. Prove it facebook knows its products can be addictive and toxic to children are. Children are the ones who are victims today. Looking at themselves in the mirror. Feel doubt and insecurity marks up. A bird ought to be looking at himself in her today and yet rather than taking responsibility and showing leadership mr zuckerberg is going. Sailing is new modus operandi. No apologies no admission. No action nothing to see here. Mark zuckerberg you need to come before this committee. You need to explain to francis hogan to us to the world and to the parents of america what you were doing. And why you get hours. After facebook whistle blower francis. How testified facebook. Ceo mark zuckerberg responded in a message. Posted on facebook. Writing quote at the heart of these accusations. Is this idea that we prioritize prophet over safety and wellbeing. That's just not true. Zakar went on to write the argument that we deliberately push content that makes people angry for profit is deeply logical. We make money from ads and advertisers consistently tell us they don't want their ads next to harmful or angry content. He said to talk more about face. But we're joined by two guests. In san francisco. Roger mcnamee is back with us. Early investor in facebook mentor to the ceo. Mark zuckerberg then went on to write the book duct waking up to the facebook. Catastrophe and in los angeles. We're joined by jessica solace co-ceo of the media advocacy group free press and co-founder of change the terms coalition that works to disrupt hate online. She's also member of the real facebook oversight board for those of you who watch democracy yesterday. These were our two guests leading up to the hearing and we thought we'd have you back to see what you were most affected by. What were you most surprised by roger. Mcnamee let's begin with you today. You know mark zuckerberg well. You were his mentor. Early investor in facebook talk about how significant this testimony is. Can you explain one thing. What is this issue of the algorithm. How does it give the lie to what zuckerberg said. We're not trying to increase. Hate and anger so the thing here is there to basic problems that we're dealing with. One is the culture of american business where. Ceo's are told to prioritize shareholder value at all costs and it's a little bit like the excuse. I'm just following orders right. That absolves essentially all manner sense. And that's a big part of the problem at facebook. Essentially think about the business this way. Advertising is the core of their economy. They get that through attention and facebook created a global network where people shared things with their intimate friends. And what happened was facebook was the first medium on earth to get access to what i call the inner self the characteristics of people they would normally only disclose to their most intimate partners friends family and in marketing. That stuff is gold and the thing is it's not just valuable traditional markers it's incredibly valuable to scammers and people who are doing things that would otherwise be legal. And if you think about what. Facebook did by connecting the whole world. It brought the world of scams into the mainstream. So when mark says something like well. You know our advertisers consistently tell us they don't want to be by know hostile. Contact the problem with that. Is that some of their biggest most important. Advertisers are the actual people who spread dangerous content. So if you think about stop the steel that was an advertising campaign if you think about anti vacs. Those people are advertisers. And so the issue here for baseball is they've created. This network is essentially an unpatrolled commercial. Place that preys on people's emotions because the best way to get people's attention is to trigger fear or outrage and so the algorithms don't sit there going. I'm looking for fear outrage what they do is they're looking for things that get you to react. And it's simply a fact of human nature of human psychology that fear and outrage of the most effective way to do that and that's why francis hogan's testimonies so devastating because she is an expert in algorithm design. She is completely credible on this issue and the stuff that she shared was not stuff. That was her opinion. It was research created by the best people. Facebook at the direction of facebook's management and so when facebook comes out after saying she only worked there for two years and she wasn't any of the meetings none of that is relevant and it sort of classic deflection by facebook. And i would argue that facebook's responses yesterday really built francis hogan's credibility because if you sat there after that here just ask yourself who did you find more credible.

facebook francis hogan Mark zuckerberg mr zuckerberg Ceo mark zuckerberg Zakar Roger mcnamee jessica solace free press and co richard blumenthal Ethiopia connecticut senate Mcnamee francis zuckerberg san francisco america roger los angeles
"roger mcnamee" Discussed on Democracy Now! Audio

Democracy Now! Audio

07:18 min | 1 year ago

"roger mcnamee" Discussed on Democracy Now! Audio

"Safety facebook. Whistle blower francis hogan went on to urge lawmakers to take action against facebook. Facebook wants you to believe that the problems we're talking about our unsolvable they want you to believe in false choices. They want you to believe that you must choose between facebook full of divisive in extreme content or losing one of the most important values. Our country was founded on free speech. That you must choose between public oversight of facebook's choices and your personal privacy that to be able to share fun photos of your kids with old friends you must also be inundated with anger driven reality. They want you to believe that this is just part of the deal. I'm here today to tell you. That's not true. These problems are solvable. A safer free speech respecting more enjoyable. Social media is possible. But there's one thing that. I hope everyone takes away from. These disclosures is that facebook and change. But it's clearly not going to do so on its own. My fears that without action. Divisive and extremists behaviors. We see today are only the beginning. What we saw in me on mar and are now seen in. Ethiopia are only the opening chapters of a story so terrifying. No one wants to read the underbid. A tuesday's hearing the senate subcommittee chair democratic connecticut senator richard blumenthal compared facebook to big tobacco and big tech faces that big tobacco jaw dropping. Moment of truth. It is documented. Prove it facebook knows its products can be addictive and toxic to children are. Children are the ones who are victims today. Looking at themselves in the mirror feel doubt and insecurity mark zuckerberg ought to be looking at himself in her today and yet rather than taking responsibility and showing leadership. Mr zuckerberg is going. Sailing is new modus operandi. No apologies. No admission no action. Nothing to see here mark zuckerberg you need to come before this committee. You need to explain to francis hogan to us to the world and to the parents of america what you were doing. And why you get hours. After facebook whistle blower francis. How testified facebook. Ceo mark zuckerberg responded in a message. Posted on facebook. Writing quote at the heart of these accusations. Is this idea that we prioritize prophet over safety and wellbeing. That's just not true. Zakar went on to write the argument that we deliberately push content that makes people angry for profit is deeply logical. We make money from ads and advertisers consistently tell us they don't want their ads next to harmful or angry content. He said to talk more about face. But we're joined by two guests. In san francisco. Roger mcnamee is back with us. Early investor in facebook mentor to the ceo. Mark zuckerberg then went on to write the book duct waking up to the facebook. Catastrophe and in los angeles. We're joined by jessica solace co-ceo of the media advocacy group free press and co-founder of change the terms coalition that works to disrupt hate online. She's also member of the real facebook oversight board for those of you who watch democracy yesterday. These were our two guests leading up to the hearing and we thought we'd have you back to see what you were most affected by. What were you most surprised by roger. Mcnamee let's begin with you today. You know mark zuckerberg well. You were his mentor. Early investor in facebook talk about how significant this testimony is. Can you explain one thing. What is this issue of the algorithm. How does it give the lie to what zuckerberg said. We're not trying to increase. Hate and anger so the thing here is there to basic problems that we're dealing with. One is the culture of american business where. Ceo's are told to prioritize shareholder value at all costs and it's a little bit like the excuse. I'm just following orders right. That absolves essentially all manner sense. And that's a big part of the problem at facebook. Essentially think about the business this way. Advertising is the core of their economy. They get that through attention and facebook created a global network where people shared things with their intimate friends. And what happened was facebook was the first medium on earth to get access to what i call the inner self the characteristics of people they would normally only disclose to their most intimate partners friends family and in marketing. That stuff is gold and the thing is it's not just valuable traditional markers it's incredibly valuable to scammers and people who are doing things that would otherwise be legal. And if you think about what. Facebook did by connecting the whole world. It brought the world of scams into the mainstream. So when mark says something like well. You know our advertisers consistently tell us they don't want to be by know hostile. Contact the problem with that. Is that some of their biggest most important. Advertisers are the actual people who spread dangerous content. So if you think about stop the steel that was an advertising campaign if you think about anti vacs. Those people are advertisers. And so the issue here for baseball is they've created. This network is essentially an unpatrolled commercial. Place that preys on people's emotions because the best way to get people's attention is to trigger fear or outrage and so the algorithms don't sit there going. I'm looking for fear outrage what they do is they're looking for things that get you to react. And it's simply a fact of human nature of human psychology that fear and outrage of the most effective way to do that and that's why francis hogan's testimonies so devastating because she is an expert in algorithm design. She is completely credible on this issue and the stuff that she shared was not stuff. That was her opinion. It was research created by the best people. Facebook at the direction of facebook's management and so when facebook comes out after saying she only worked there for two years and she wasn't any of the meetings none of that is relevant and it sort of classic deflection by facebook. And i would argue that facebook's responses yesterday really built francis hogan's credibility because if you sat there after that here just ask yourself who did you find more credible.

facebook francis hogan mark zuckerberg Mr zuckerberg Ceo mark zuckerberg Zakar Roger mcnamee jessica solace free press and co richard blumenthal Ethiopia connecticut senate Mcnamee francis zuckerberg san francisco america roger los angeles
"roger mcnamee" Discussed on Democracy Now! Audio

Democracy Now! Audio

04:24 min | 1 year ago

"roger mcnamee" Discussed on Democracy Now! Audio

"Of pride of what francis ho- how can help reveal this week is that facebook is not adequately invested in any language. Besides perhaps english and french. They've made some investments in those areas but they utterly failed to make the investment necessary to make facebook safe in other languages. And i have to tell you one you know if it were me and i was running facebook and i found i hear from the united nations that i played a contributing role in the genocide in myanmar. I would've looked right away at this issue at at weather. Our moderation systems keeping people safe particularly around the globe and the fact that that didn't happen is appalling and unacceptable. Britain roger mcnamee to the conversation. Welcome to democracy now. And could you talk to us about your reaction to the latest revelations from a francis hogan and and how you initially began to to believe that a facebook was on a negative and dangerous course. It's a great honor to be back on the show with you all today and i want to tip my hat to my friend jessica. 'cause i think. She framed many of the problems it exactly correctly. I also wanna throw out a huge. You know thanks to francis She is so courageous so authoritative and so utterly convincing. I mean this is a person who is in a position enormous responsibility to facebook who is very technically competent. Who saw these problems and had the courage to bring documents out to make sure the whole world knows that level of courage is i mean we should be all applauding my own experience. I was an adviser to mark in the early days of facebook. I mean he was twenty two when we met. I advised when the company starting before it even had a news feed My concerns became an issue for me in early. Two thousand sixteen and i reached out to mark zuckerberg and shell sandberg just before the election. Two thousand sixteen to warn them. Because i was afraid..

facebook francis ho roger mcnamee francis hogan myanmar united nations Britain jessica francis shell sandberg mark zuckerberg
"roger mcnamee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:44 min | 1 year ago

"roger mcnamee" Discussed on Bloomberg Radio New York

"Were incredibly intimate things, and it should be okay for us to give that data to someone in exchange for service. But not okay for that data to them freely traded be used in other cases, and I think we need to actually ban Certain classes of data from third party use, and that you know that, along with the safety stuff is earlier in the regulatory process. There are people now sponsoring bills around this. Like more work needs to be done. And it is my hope that everyone listening this program when they're talking elected representatives make it clear that that we understand that there's nothing inevitable that this business model People chose it. It's immensely profitable. Investors have profited, but we're losing democracy. We're unable to beat the pandemic. And we are dealing with all kinds of hate in our society because we've allowed this business model to run amok. Rogers Collective taking up in order of the first one, you mentioned an interest and specifically, the Texas case. That may be the most imminent the one that could come up first. What would be the right remedy and let me put it a different way? Are their behavioral remedies or restrictions regulations that will address this or does it have to be structural? That is to say, breaking things up? Great, great question. I think he needs some of each. But fundamentally, The problem in our economy broadly is that we have allowed Economic power to get concentrated in every industry to a degree we haven't seen in 100 years, and this is produced all kinds of issues for workers. It's produced a significant reduction in innovation. It's for Harmed entrepreneurship, and I think frankly, consumers are much worse off in the super violent. So you do need to make some behavioral changes. You gotta prevent companies that operate marketplaces from also participating in those marketplaces. But the break up thing is really important, and I think you have to think about it. It least two dimensions. Every one of these products has a user experience. It then has an architectural a data layer. That's behind it. And then it has a monetization layer, which is advertising those air three separate things. In every case, those three things need to be separated from each other. But on top of that, you also need to separate all of the businesses that are adjacent to each other. So in the case of Facebook, you separate the Facebook product from The Instagram product from WHATS app. But you also separate messenger and all of the other major applications that they have from each other. Thanks to tech investor Roger McNamee that wraps up today's.

Roger McNamee Facebook 100 years Instagram today three things two dimensions Texas three first first one WHATS Rogers each Collective things one
"roger mcnamee" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:39 min | 1 year ago

"roger mcnamee" Discussed on Bloomberg Radio New York

"This is balance of power on Bloomberg Television and Radio. I'm David West in the 19 member Independent Facebook Review panel issued his decision on the banning of President Trump today upholding decision, at least for the time being welcome. Now Bloomberg senior executive editor for Global Technology, Brad Stone, who is the author of the brand New book, Amazon Unbound, Jeff Jesus, and the Invention of a global empire, just really coming out next week. Welcome, Brad first. Well, congratulations on the book will come back to that. But first, let's talk about this Facebook. Decision. What did this panel decided? What didn't decide? Well, I mean, they decided that Donald Trump should should continue to not be on Facebook, at least for the next six months. But David, I think the best way to think about this decision is as a hot potato. Nobody wants to hold it on. Do you know Mark Zuckerberg created this Independent review board? He kind of calls it a Supreme Court to review big content decisions and When Facebook suspended President Trump in January after the thief insurrection on Capitol Hill. They kicked that decision to the review board. The review board said that Facebook made the right decision but then found some flaws. It said that an indefinite suspension was inappropriate and the kind of big penalty was inconsistent with Facebook's principle. So the hot potato now goes. Active Facebook, and they have to figure out in six months. Does Donald Trump stay off the platform? Or is he able to rejoin? Yeah, and President Trump couldn't put his response on Facebook. But he did have response in which she says a total disgrace and embarrassment is trying to destroy and decimate our electoral process as a private matter if they did adopt standards who would enforce them? Right. And the question of standards is a good one, because I think in the past, Mark Zuckerberg has basically said, You know, political leaders are are important. Their views need to be heard. And they should be treated by and large like any other user. If not, you know their words being seen as sort of Maurin important right to propagate. And what the advisory board The Independent board is saying here is that no you need you need special standards for political leaders, particularly if they're inciting violence and could lead lead the personal harm. And so it's kicked it back to Facebook and basically said, You have to go develop those new standards. If Facebook does develop them if they if they hold political little leaders like Trump to a higher standard that will be up to Facebook itself to to enforce those bread. We have to get your book here. I've gotten to read the piece on the Bloomberg, which is accepted from the book as I understand it, and it's about Jeff Bezos and part of the lease is about Jeff bases squaring off with the National Enquirer, which you normally don't want to do. But would you say in the end that Jeff basis one Yeah, absolutely. And David just for a little bit of context. I was working on this book for about a year when this this tabloid story hits, so as you can imagine, it was a little bit of a right turn. But the way in which he, you know He implied some political motives really covered it and in a fog of ambiguity implied a connection to the government to Saudi Arabia. I mean, my my reading of it, and the deep reporting on it was that it really wasn't that it was, you know, the case of Ah family member selling the information to the Enquirer, but in the public imagination, at least basis did come out ahead. He's well beyond that. Now he's retired from Amazon and Preparing to move on to this larger world. It's passing short wraps himself in the First Amendment and then vindicating Selene journalist Thanks so much. I really recommend this book. It's Bloomberg's Brad Stone, and he is the author of the forthcoming book. Amazon Unbound. Coming Up the Balance of Power continues on Bloomberg Radio. In our second hour, we'll talk about the Facebook decision with an early Facebook investor and mark second book critic. He is Roger McNamee. This is bouncing power on Bloomberg Television.

Roger McNamee Trump Donald Trump Brad Stone Jeff Bezos David West Brad David Bloomberg Mark Zuckerberg January Jeff Bloomberg Television next week second hour Capitol Hill 19 member President Trump second book six months
Google hit by antitrust lawsuit from nearly 40 states over alleged search monopoly

Techmeme Ride Home

06:02 min | 2 years ago

Google hit by antitrust lawsuit from nearly 40 states over alleged search monopoly

"And meanwhile in the midst of everything. We've been talking about today. We expect a bipartisan group of more than thirty state attorneys general to announce an antitrust lawsuit against google later today accusing them of favoring their own products in their search results. I'm not gonna hold the show this afternoon just to report the news because we know it's coming the quotes and get some smart analysis of the details of the case tomorrow. But in the meantime i did wanna flag this. Because we've actually had a look at this antitrust suit which is being led by the texas attorney general and interestingly it makes a specific accusation that google facebook special privileges in exchange for not supporting a competing. Ads system this is potentially very very meaningful. A lot of these other anti-trust cases have been kind of arguing. Theory like what is a monopoly. And what isn't what is. The definition of the market given company is operating in what constitutes anticompetitive behavior. Even but this this is potentially something more tangible because this alleges actual cut and dry collusion the actual of a market by two powerful players in that market this would be an actual illegal conspiracy. Were talking felonies here. Allegedly quoting wired as described in the complaint. The scheme between google and facebook has its roots in two thousand seventeen when facebook announced it would start supporting something called header bidding. The details are two key to get into here. Basically google which runs the biggest online ad exchange likes to make publishers give it first dibs on bidding to place an ad publisher just means any website or app that runs ads. Header bidding was a technical hack that allowed publishers to earn higher prices by soliciting bids from multiple exchanges at once. Google hated this because it created more competition. When facebook declared that it would work with publishers that used header bidding. It was seen as a provocation. The millions of businesses that advertise with facebook don't just advertise on facebook through the facebook audience. Network the company also places ads across the web making it one of the biggest ad buyers on the internet if it began supporting header bidding. That could cause google's ad platform to lose a lot of business drawing on internal documents uncovered during its investigation however the texas attorney general claims that facebook's leaders didn't actually want to compete with google. They wanted google to buy them off. This seems to have worked in september two thousand eighteen. The company's cut a deal facebook. The complaint says agreed to quote curtail its header bidding initiatives and send the millions of advertisers in its facebook audience network to bid on google platform. In return. google would give the facebook audience networks special advantages at auctions including setting aside a quota of ad placements to facebook. Even when the company didn't make the highest bid the agreement the complaint says quote fixes prices and allocates markets between google and facebook and quote. Here's why that matters. The other antitrust cases filed against google and facebook this year by the justice department for google and the federal trade commission and state attorneys general for facebook are based on section. Two of the sherman act which is about building a monopoly in a section two case. It isn't enough to show that a company dominates a market. The government must also prove that it got to the top by using anticompetitive tactics rather than by just being the best. The alleged conspiracy between google and facebook is different. It falls under section one of the sherman act which makes it illegal for two or more companies to make any contract or agreement quote in restraint of trade and quote while the texas case is a civil suit. The claims in it could conceivably serve as the basis of federal criminal charges. A section one case is much simpler if there's proof that the companies did agree to fix prices rig bids or just not compete with each other. That's the end of the inquiry quote. If you can prove an agreement between two firms once you have proof of that agreement. It is called per se illegal said sally hubbard director of enforcement strategy at the open markets institute. An anti monopoly. Think tank quote. This is why antitrust enforcers love to bring section cases because if you can find evidence of more than one firm agreeing to fix prices agreeing not to compete agreeing to allocate a market once. You prove that agreement it's automatically illegal. It ends there and quote. Unlike last week's facebook antitrust filing or the house report on big tech from over the summer most of the juicy details and internal documents including a screenshot of the contract terms between facebook and google are blacked out. The heavy reductions are not the only strange thing about the case the texas attorney general's office fresh off a losing effort to overturn. The presidential election announced the suit in a weird amateurish video posted to twitter before the case had been filed. Still there are some tantalising clues. The document alludes to an email about the arrangement from dan. rose facebook's vice president of partnerships to ceo mark zuckerberg that suggests that whatever deal the two companies had was signed off on at the highest levels another heavily redacted section alleges google violated users privacy and quote agreed ways after signing an agreement with facebook in two thousand fifteen that gave the company access to quote millions of americans end to end encrypted. What's at messages photos videos and audio files and quote. So you know don't as roger mcnamee tweeted quote the filing asserts that google conspired with facebook in the digital ads market if they can prove it and they appear to have evidence. Google and facebook are in huge trouble and quote.

Facebook Google Texas Sally Hubbard Open Markets Institute Federal Trade Commission Justice Department Mark Zuckerberg Twitter DAN Roger Mcnamee
6 months after Hurricane Maria, parts of Puerto Rico continue to struggle

All News, Traffic and Weather

02:12 min | 5 years ago

6 months after Hurricane Maria, parts of Puerto Rico continue to struggle

"The information was later used by cambridge analytica a consultant to the trump campaign john blackstone has more on this undercover video broadcast today by britain's channel four reveals cambridge analytic a ceo alexander knicks boasting of his company's involvement in the two thousand sixteen presidential campaign have you met mr trump the data all the talk to today cambridge analytica suspended knicks but facebook could be in deeper trouble in two thousand eleven they signed a consent decree with the federal trade commission promising not to allow unauthorized use of users profile data nixes admission suggests facebook may have violated that agreement roger mcnamee an early investor in facebook is now a critic of the company i think there's a giant problem for facebook and frankly for democracy in the united states sam lester with the electronic privacy information center agrees users had no idea that cambridge analytical is accessing this data it's a clear violation of the two thousand eleven consent order potentially could cost them forty thousand dollars for every offense times fifty million people that could total more than two trillion dollars in fines mcnamee says zuckerberg silence is disappointing you don't get to make a billion dollars in mark's case you know tens of billions of dollars without being responsible for the consequences of your actions facebook spokesperson said today the entire company is outraged they were deceived by cambridge analytica but lawmakers in both congress and britain's parliament are holding facebook responsible and they want to hear directly from mark zuckerberg jeff john blackstone staying on this story john thank you it was six months ago today that hurricane maria slammed into puerto rico take a look at the pictures then and now we tell you ninety five percent of the island had no power in the days after the storm now about the same percentage has it back david begg no return to puerto rico to check on the recovery driving through macau we saw a listen her husband on the side of the road with buckets they come here to this faucet to get.

Cambridge David Begg Puerto Rico Jeff John Blackstone Mark Zuckerberg Sam Lester Alexander Knicks CEO Macau Maria Consultant United States Roger Mcnamee Facebook Knicks Mr Trump Britain John Blackstone Forty Thousand Dollars