1. Let's talk about Facebook's earnings call yesterday and how it relates to the company's inability or unwillingness to effective combat political misinformation on the platform.
Because it really explains everything.
Because it really explains everything.
2. Facebook announced that it made $7.3 BILLION in PROFIT over the last three months.
You could spend just a tiny fraction of that and make a pretty serious dent in the political misinformation problem.
But the company won't do it. Why?
You could spend just a tiny fraction of that and make a pretty serious dent in the political misinformation problem.
But the company won't do it. Why?
3. Despite the obscene profits, which are up year-over-year, Facebook stock is down significantly today. (Almost 7% at the moment.)
Why?
Investors are concerned that "expenses" are rising too quickly.
That's a critical dynamic.
Why?
Investors are concerned that "expenses" are rising too quickly.
That's a critical dynamic.
4. Facebook could devote more resources to combat misinformation. But it's not.
And it's not because Mark Zuckerberg is committed to unfettered free speech.
It's because Facebook needs to keep expenses low to keep investors happy and its stock price high.
And it's not because Mark Zuckerberg is committed to unfettered free speech.
It's because Facebook needs to keep expenses low to keep investors happy and its stock price high.
5. So Facebook is theoretically interested in solving problems but it will only do so while keeping expenses low.
So content moderation is outsourced to third-party companies that pay meager wages.
The priority is its stock price not a healthy democracy.
So content moderation is outsourced to third-party companies that pay meager wages.
The priority is its stock price not a healthy democracy.
