1/ Important read by Roger McNamee @Moonalice in @TIME on how the entire tech industry needs to be regulated, not just Facebook.
time.com/6104863/facebo…
2/ Facebook knew it was causing harm. That didn't stop them.
The @WSJ's Facebook Files are well worth a read
wsj.com/articles/the-f…
or listen
wsj.com/podcasts/the-j…
for more details.
3/ ABSOLUTELY A MORAL FAILING:
4/ Until the 1970s corporate morality took
"...into account a wide range of constituencies beyond the owners...the wider community within which they operated—what would later be called 'stakeholders.'"
—Robert Putnam & Shaylyn Romney Garrett, The Upswing
5/ But then
"sharply narrowing the focus of business management to a single group—the shareholders of the company’s stock... 'Shareholder value' (that is, the stock price) became the single metric for managerial success…”
—Robert Putnam & Shaylyn Romney Garrett, The Upswing
6/ We need a reset of corporate moral values.
Public good matters.
7/ We need a new corporate mandate.
8/ When corporate interests profit from harming the public, they must be regulated.
9/ What kind of regulation?
10/ TECH SAFETY
11/ PRIVACY
12/ COMPETITION
Facebook recently urged the U.S. District Court for DC to dismiss an @FTC anti-trust suit against the company.
nytimes.com/2021/10/04/tec…
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