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, 5 tweets, 3 min read
So many founders, VCs, execs watching this #Zuckerberg hearing with the same thoughts.

- So much grandstanding & scapegoating!
- So much hysteria about minutiae
- Demands are contradictory
- Impossible to satisfy these people
- But they have guns…
- This is the US government…
Similar thoughts from Reason's @robbysoave.
@robbysoave Here's one (duly elected!) Congressman asking Mark why Facebook is filtering information on vaccines:
@robbysoave Here's another (duly elected!) Congressman asking Mark why he hasn't memorized the diversity stats for 21 organizations:
@robbysoave Here is Maxine Waters telling Zuck that standing for freedom of speech is holding himself above the law.
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More from @balajis see all

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Balaji S. Srinivasan
@balajis
Facebook has provided free long distance phone calls, texts, video chat, group messaging, photo albums, event management, white pages, yellow pages, and dozens of other services to literally billions of people.

The New York Times reported that there were WMDs in Iraq.
“The verdict: The Times reporting was flawed, and relied too heavily and credulously on now-suspect sources of WMD intelligence.” pbs.org/newshour/show/…
Should we fund 1000 competitors to FB? Yes.

Create decentralized versions of each service so the question of censorship is moot? Of course.

But those developments will take time. In the meantime, the NYT wants to take away your free speech. nytimes.com/2019/10/04/opi…
Read 5 tweets
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Balaji S. Srinivasan
@balajis
Companies used to have cap tables.

Under the Warren act they will also have crap tables: a group of “stakeholders” without any money at risk who are there to give you crap.
The next step after shareholder capitalism is not “stakeholder capitalism” (death by a thousand vetos) but blockchain capitalism.

Bitcoin and Ethereum have shown us a way to allow anyone to invest in a new technology, taking both risk and reward.
Silicon Valley was built on the cap table. A way to economically align people from all around the world to build companies like Google.

Crypto allows us to scale the concept of a cap table to millions of people from around the world. news.earn.com/thoughts-on-to…
Read 4 tweets
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Balaji S. Srinivasan
@balajis
"Instead of serving the interests of the shareholders who own the company, CEOs and directors would have to serve some combination of 'the workforce,' 'customers,' 'the local and global environment' and 'community and societal factors.'" archive.is/FtEuA
This is optimized to sound good, but in practice would mean a radical change in corporate governance. Imagine every board vote being subject to California-style environmental impact reviews. citylab.com/transportation…
Stepping back, the reason proposals like this are being discussed is that many people feel left out of the economic growth of the last few decades. Though whether this is actually true is worth investigating: medium.com/@russroberts/d…
Read 5 tweets

Related threads

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Jennifer Kim
@jenistyping
Comments that illustrate the current state of SV tech recruiting, a thread:

1) CEO of a startup: “I just lost one of my best engineers to [AppAmaGooBookSoft]. Their *signing bonus* was almost the entire annual salary I was paying them. How am I supposed to compete with that?”
2) VP of Talent, [Rising Rocketship]: “I’m trying to get my exec team to open up remote roles, but getting a lot of resistance. My team has talked to practically every experienced eng in SF, the talent pool feels pretty tapped out… but the CEO insists everyone should be in HQ.”
3) Recruiter at [Future Unicorn]: “Comp is so f*cked up. I blame Netflix and Airbnb.”

(context: Netflix is famous for paying “top of market” cash but no equity. Airbnb, in response to the difficulty of tech recruiting, has… uh, thrown money at the problem).
Read 12 tweets
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FaceTheCuban© SirLRO🎈{Interactive}
@FaceTheCuban
...#Positivity is in each & everyone of us. Let it flow more often, makes a better day. #SirLRO
...#Positivity ~none said it was easy, all you have to do is one step at a time. I know you can, keep going. #SirLRO
~ #Positivity there is no need for deprecating others with words, when it calls for~there is a need for compassion, it’s in you, #SirLRO
Read 246 tweets
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EFF
@EFF
After over five hours of the #Zuckerberg hearing today, here are EFF’s highlights: (1/11)
Mark Zuckerberg started Facebook in his dorm room in 2004.
Facebook seems to be moving towards AI solutions for all of Facebook’s problems, including hate speech and fake news, without mentioning the likelihood of overbroad censorship.
eff.org/deeplinks/2018…
Read 11 tweets
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Alp Ozcelik
@alplicable
I'm obviously very excitedly watching this Zuckerberg hearing but I'm skeptical about the quality of the impending questions. Hope to be proven wrong!
The reality is that the people doing the questioning do not fully understand Facebook or APIs or how online data exchanges work. So, I'm not really expecting a lot of meaningful, actionable pressure other than some political grandstanding from this.
The preparedness of Zuckerberg is clearly much higher than the Congress.
Read 36 tweets
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Caroline O.
@RVAwonk
The hearing is now officially starting, with opening remarks from the ranking members of both committees (Senate Judiciary Committee and the Senate Commerce, Science and Transportation Committee).
In her opening remarks, Sen. Feinstein mentions last night's news that Cambridge Analytica had access to Facebook users' private direct messages.
I hope someone asks Zuckerberg how Facebook can claim they didn't know Cambridge Analytica was still using data they harvested, given that FB sent employees to "embed" w/ the Trump campaign's digital team — so FB employees were working in the same office as Cambridge Analytica.
Read 51 tweets
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Dr. Dena Grayson
@DrDenaGrayson
🔥ZUCKERBERG IS IN THE BARREL‼️

Live tweeting the #ZuckerRoast right now.😎

#Zuckerberg
#ZuckerbergTestimony
#Zuckerberg literally looks like he's going to PUKE‼️🤢🤮

#ZuckerbergTestimony
GOP Sen Thune is reading a prepared statement👉🏼basically says that #Facebook's proposed changes are TOTAL BUNKUM. They will only serve to INCREASE PROFITS for Facebook.

Says that social media companies CANNOT self-regulate. DUH!🙄
Read 102 tweets

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