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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...

The Time’s Up Edition (Because ‘Heads Up’ Is No Longer Cutting It)

The Time’s Up Edition (Because ‘Heads Up’ Is No Longer Cutting It)

Mark Zuckerberg testified before Congress last month, and there were a few points he needed to clarify. He promised to get back to the legislators, and so he did.

Notes Buzzfeed (“Here Are 18 Things You Might Not Have Realized Facebook Tracks About You Including: information about your online and offline actions and other devices on your Wi-Fi network), “Last week, Congress released a massive document with written answers to those questions. These responses were a good reminder that Facebook records a ton of information about you.” Read More...

Technology and the Bloodless Coup

Technology and the Bloodless Coup

Just two weeks ago, Mark Zuckerberg said that he would not oppose regulation while testifying before a Congressional committee. Last week, knowing that GDPR (General Data Protection Regulation) was about to be implemented in the EU, Facebook to put 1.5 billion users out of reach of new EU privacy law, Reuters reports. “If a new European law restricting what companies can do with people’s online data went into effect tomorrow, almost 1.9 billion Facebook Inc users around the world would be protected by it. The online social network is making changes that ensure the number will be much smaller…That removes a huge potential liability for Facebook, as the new EU law allows for fines of up to 4 percent of global annual revenue for infractions, which in Facebook’s case could mean billions of dollars.”

Facebook has no intention of respecting anyone’s privacy.

Never did. Read More...

Mark Zuckerberg and the Apology Algorithm

Mark Zuckerberg and the Apology Algorithm

It took Mark Zuckerberg a few days before issuing an apology over the Cambridge Analytica hack. Odd, considering how much practice he has had over the years:

2007: Zuckerberg Saves Face, Apologizes For Beacon. To refresh your memory, Beacon was an intrusive, controversial ad system that compromised consumer privacy. “We’ve made a lot of mistakes building this feature, but we’ve made even more with how we’ve handled them. We simply did a bad job with this release, and I apologize for it,” Zuckerberg wrote. “Instead of acting quickly, we took too long to decide on the right solution. I’m not proud of the way we’ve handled this situation and I know we can do better.” Oops, sorry. And nothing more to see here. As TechCrunch noted, (Zuckerberg) “also announced a new privacy control that lets Facebook members opt out of Beacon completely. Before, you had to opt out on a case-by-case and site-by-site basis… Maybe Zuckerberg is finally beginning to realize that he does not have permission to track his customers indiscriminately across the Web. Nobody does anymore.” Read More...

Beware the Tech Cartel and People Who Speak in Code

Beware the Tech Cartel and People Who Speak in Code

We follow Max Levchin on Twitter. Last week, he posted an interesting series of tweets, based on an Edelman Trust Barometer Report that was released at the World Economic Forum in Davos in January.

For the record, Levchin was co-founder and CTO of Paypal; former Chairman of Yelp; founder/CEO of Slide (acquired by Google and shut down); currently, founder of Affirm, and a long-time WEF attendee. Read More...

Tech and the God View

Tech and the God View

It seems that both users at large and governments are now turning against the tech megaliths, which includes Facebook, Google and Amazon. Silicon Valley Is Not Your Friend We are beginning to understand that tech companies don’t have our best interests at heart. Did they ever?, wrote Noam Cohen in the New York Times. We don’t need to catalog what globalization, the exploitation of labor and the seemingly unbridled power of platforms such as Facebook and Google has done and is doing to world economies and people, individually. Wages have diminished or stagnated, verticals are being consumed and choked. They control the conversation, with hitherto unheard of collection of personal data on vast segments of the population globally – Facebook claims two billion users and how many people, besides Yours Truly, strenuously avoid Google search and all things Google, where and when possible? Voice activation may indeed make our lives easier, but again, at what price? Are we so accustomed to surrendering our privacy for the sake of convenience that we shrug it off? Head’s up, in case you missed it: Warning over iPhone apps that can silently turn on cameras at any time. And, as the article points out, “Google has recently deleted several apps that surreptitiously recorded users and masqueraded as legitimate apps.”

Wonder how many they missed…

Remembering the God View

A while back, when Travis Kalanack was CEO, Uber got into trouble with its customer-tracking God View app, which allowed the company to track riders’ locations and other data. In one case, Uber executive Emil Michael proposed digging up dirt on journalists who were critical of his company and spreading details of their personal lives. The issue was settled. Fines were levied and Uber promised to limit God View data. That was 2014. Read More...

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