• A huge source of funds for Euro govts is fining Facebook and Google

  • In legacy Big Tech (Facebook, Tesla), the vision means less and there's less premium from the founder, maybe

    Bill George said he thinks Zuckerburg might be tired. A year ago he changed the name of the company, which George thought might mean he was abandoning Facebook, and that Zuckerburg should hire a CEO and Zuckerburg could go be chair and chief creative officer in and focus on VR. He's spending $10b per year.

    "Someone has to restore [Facebook and Instagram], and if someone doesn't set some standards for the companies (both Musk and Zuckerburg), we're going to have forced regulations, which no one wants."

    The founders were seen as 'visionaries'. Not necessarily 'competent CEOs.'

  • Tech stocks, in order to see good performance, need to show corporate benefits, but with these companies the question is not Can they? but rather Do they want to?

    They're owned by single people who have controlling shares, and don't need to listen to the market or even their boards. Normal market disciplinary forces don't really apply the same for them.

    The owners are so rich that even if the stock goes down 50% they're not too affected personally.

    They may have always been like that, but the stocks were going up so no one cared. Now there might be a renewed focus on Corporate Governance and how the governor responds.

    Amazon, long ago, was allowed by shareholders to lose money for years, but they explained where they were going.

    Emperors of old.

     
  • About 100 tech companies are downsizing right now

    Possible end to employment-related inflation.

  • Tech stocks are not on discount, they are the bursting of a tech bubble, says Rob Arnott

    Like 2000.
     
  • Does Twitter becoming private make it more competitive versus FB, Snap, etc?

    Mark Mahaney of Evercore: "I think Musk is doing something that a lot of investors should do which is that there's a lot of really good tech assets out there that are at very low prices. Yes, Elon Musk offered a 50% premium but it was on a stock that was off 50% since it's highs."

     
  • Is having 'moderators' a failed social technology?

    Today, I was cancelled from two social media platforms. After questioning a redditor about his statement about a legal topic, and him responding, and me reviewing the case he cited and responding, it seems he just banned me (was not able to comment further - just read 'error' or something).

    Then someone posted a news issue saying how much violence there was in the city/state I live in, and I posted stats (literally facts, numbers, putting it in context with the US's cities and states. I received a comment from the platform saying my comment had been removed.

    I generally don't post comments on Facebook, but thought I'd contribute today, but after that I see no reason to try to comment on it in the future.

     
  • US tech giants info-actions against Russia

    Without being forced to, they've taken actions against Russia, Russians, and Russian information sources.

    Facebook reportedly will allow posts calling for violence against Russia and its president.

    Wion asked, "Isn't this criminal? Won't this promote hate? Won't this incite hostility against all Russians?"

    Google barred the Russian government from monetizing content. Apple stopped sales in Russia and cut Russia off from the ApplePlay, and has blocked RT and Sputnik outside Russia. Twitter is labeling all posts that are pro-Russian and adding a label on pro-Russian stories.

    Wion said that Facebook, Google, Microsoft and Amazon were awarded $44.5b from the DHS and DoD. For aiding the US military, providing them with digital tools that can be used in wars. Including access to databases, cloud computing, surveillance, drone tech and pushing narratives.

    Wion also pointed out the revolving door for professionals that work in big tech and then in government. And former government who now are controlling big tech companies.


     
  • EU fined WhatsApp (FB) $270m for privacy violations

    Someone commented that until it's over a billion or double-digit billions FB will view these fines as costs of doing business, and that the EU is using the company as an ATM.

    #BigTech #EU #Law
     
  • Future political change in US, taking apart Big Tech - Stoller's guess

    (Matt Stoller, Director of Research at the American Economic Liberties Project)

    'The pace setters of our ideology right now, of these dominant centers of power, and ignoring that power to just sort of focus on other questions that matter but that don't touch power directly, that don't touch concentrated commercial power. This is big tech. It's Amazon, it's Facebook, it's Google, it's Apple, it's Microsoft. These are the pace setters of our economic order. And I think that we're going to be taking those apart. And as we take those apart, because they are too powerful, and the Right and Left have both kind of come to that conclusion, there are going to be so many other consequences of that choice.

    'To take apart the most powerful firms in your economy means that you're really restructuring how you think about political philosophy and political economy, and that's going to have lots of consequences in every industry across the board, and you're already kind of seeing it.'

     
  • Word is both sides of US Congress is taking aim at Big Tech

    Usually, they seem quite antagonistic but people say they're aligning on this issue.

    Antitrust bills.

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