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What If Ma Bell Had Behaved Like Facebook? The Facebook Stock Fail Explained

What If Ma Bell Had Behaved Like Facebook? The Facebook Stock Fail Explained

Facebook’s stock took a nosedive last week, sending shockwaves through the stock market. Twitter also took a big hit. Time for perspective: the price is back to where it was in May. The stock price took a big jump in July, then came back down to earth.

Are we looking at end of days, an overdue correction, or time for Facebook et al to reexamine the business model?

The tech sector has no historic perspective. They have always felt that the rules of business don’t apply to them. Tech is a mere extension of utilities we’ve seen before. Facebook, in many respects, is the telco reimagined. Only, in this case, you can reach out and touch people globally, without incurring long distance charges. Or make a conference call, when it comes to posts. Read More...

Is Facebook a publisher? In public it says no, but in court it says yes. Who’s to say?

Is Facebook a publisher? In public it says no, but in court it says yes. Who’s to say?

Facebook raised ire last week when, in an interview with Recode’s Kara Swisher, Mark Zuckerberg volunteered, unsolicited, that the platform would not be banning holocaust deniers – an editorial decision, which would make Facebook a publisher. In fact, The Guardian recently asked, Is Facebook a publisher? In public it says no, but in court it says yes In its defense against a former app startup, Facebook is contradicting its long-held claim to be simply a neutral platform. Strengthening the argument – its business model: Facebook makes its money off advertising.

Zuckerberg did note that the company plans on adding 20,000 people to help police the platform and to watch Facebook Live videos and alert authorities when certain people may be about to harm themselves. The number hardly dents Facebook’s bottom line. As Techonomy notes, “(Facebook) is the most profitable large company that ever existed… Its 43% net margins, on revenues that this year will exceed $55 billion, are unprecedented for a company this size. That means it will have profits this year, after taxes, of roughly $23 billion.” Read More...

Mary Meeker’s Internet Trends Report – and What Was Not Said

Mary Meeker’s Internet Trends Report – and What Was Not Said

Every year, Kleiner Perkins partner Mary Meeker gives us her look at the trends in technology. This year in 294 slides. Here are some of the points, along with follow on points that she might have conveniently neglected to mention. She is a Silicon Valley tech investor, after all:

The Gig Economy

The gig economy is growing fast, with nearly seven million people projected to be working in it in the US by the end of this year, up 26% from 2017, said Meeker. Seventy-one percent of US gig workers say they “always wanted to be their own boss,” according to a survey Intuit conducted in November 2017. As Quartz points out (People are joining the gig economy because of a powerful myth), it’s the algorithm that’s in charge, determining “where the driver will head next, who she’ll pick up, and how much she’ll be paid for that trip. In other words, many important features of the job are outside the driver’s control.” Read More...

…In Which Yours Truly Resolves the Universal Basic Income Issue

…In Which Yours Truly Resolves the Universal Basic Income Issue

Every now and then we like to flip the model – and the talking points. Seems that the model of tech is freemium. Everyone loves to get stuff for free – no one more than the tech cartel, particularly Facebook and Google. As the Wall Street Journal (Tech’s Titans Tiptoe Towards Monopoly) noted, Google and Facebook “benefit from something historically unprecedented: the ability to get users to subsidize them with enormous quantities of free labor. Their systems are fueled by personal information.”

Here’s a thought: since the cartel are such outspoken advocates of Universal Basic Income, let’s make it easy for them to literally put their money where their mouths are by having them pay users for providing information/content every time they post/share/search. These systems are built on algorithms: they can no doubt figure it out. There’s even a metric for payment to writers. On the lowest end (and far from our rate, fyi): two cents per word. Read More...

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