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Noahpinion's profile
Noah Smith
Noah Smith
Noah Smith
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@Noahpinion

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Noah SmithVerified account

@Noahpinion

Bloomberg Opinion writer. Elected "top neoliberal shill" of 2018. Occasionally posts anime gifs.

San Francisco, CA
bloomberg.com/view/contribut…
Joined April 2011

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    Noah Smith‏Verified account @Noahpinion Oct 26

    Noah Smith Retweeted Noah Smith

    Time for panel #3: Big Tech and regulation! I will be live-tweeting again, and you can also watch video at either the Twitter or Facebook links below!https://twitter.com/Noahpinion/status/1055522018941116416 …

    Noah Smith added,

    Noah SmithVerified account @Noahpinion
    Bloomberg Ideas conference now starting! I will be live-tweeting it. You can watch on our Facebook or Twitter pages (links below)! https://twitter.com/Noahpinion/status/1055466232944754693 …
    Show this thread
    10:03 AM - 26 Oct 2018
    • 11 Retweets
    • 39 Likes
    • ha Bisibelebatman Héctor Del Manzano tay🇺🇸🇺🇸 Naeem Khan Hope U VOTED 🇺🇸 Lance Cameron Jessica Josephson Peter Gehred
    1 reply 11 retweets 39 likes
      1. New conversation
      2. Noah Smith‏Verified account @Noahpinion Oct 26

        Kaissar: Every industry gets regulated when it gets big. The question is what kind of regulation Big Tech will get,and whether the companies will be proactive in shaping it.

        3 replies 1 retweet 5 likes
        Show this thread
      3. Noah Smith‏Verified account @Noahpinion Oct 26

        Kaissar: More profitable companies have higher returns. Why? Maybe it's a risk factor, because more profit = higher risk of getting regulated.

        2 replies 0 retweets 5 likes
        Show this thread
      4. Noah Smith‏Verified account @Noahpinion Oct 26

        Bershidskyis showing a diagram of GDPR complaince pop-ups. What a massive ill-conceived bureaucratic mess.

        6 replies 0 retweets 8 likes
        Show this thread
      5. Noah Smith‏Verified account @Noahpinion Oct 26

        Ritholtz: It's 2018 and we're still talking about Facebook privacy settings?! If you're still giving your personal data to Facebook, you just don't care about privacy!

        3 replies 3 retweets 17 likes
        Show this thread
      6. Noah Smith‏Verified account @Noahpinion Oct 26

        Feldman: But FB can tell everything about you from watching your posts and interactions.

        1 reply 0 retweets 2 likes
        Show this thread
      7. Noah Smith‏Verified account @Noahpinion Oct 26

        Ovide: Why should we have to choose between not using consumer internet services at all or giving away all of your personal data? Shouldn't there be some middle ground?

        3 replies 2 retweets 11 likes
        Show this thread
      8. Noah Smith‏Verified account @Noahpinion Oct 26

        Mukherjee: The idea of "notice and consent" is dead. No one reads privacy notices. And many are deceptive.

        2 replies 2 retweets 15 likes
        Show this thread
      9. Noah Smith‏Verified account @Noahpinion Oct 26

        Mukherjee: 5g is a big change that is going to make privacy harder and more important.

        1 reply 1 retweet 2 likes
        Show this thread
      10. Noah Smith‏Verified account @Noahpinion Oct 26

        Mukherjee: With 5g, there will multiple people getting video of you all the time. That's qualitatively different from anything that has gone before.

        2 replies 1 retweet 6 likes
        Show this thread
      11. Noah Smith‏Verified account @Noahpinion Oct 26

        Kaissar: FB's stock value is an exponential function of how much data Facebook users give it. In other words, people aren't getting paid full value for their data.

        1 reply 2 retweets 7 likes
        Show this thread
      12. Noah Smith‏Verified account @Noahpinion Oct 26

        Kaissar: Social networks' network effects mean individuals are too small to bargain for their own data individually. People need an intermediary to bargain for them. Feldman: Inevitably, it will be the government.

        1 reply 3 retweets 13 likes
        Show this thread
      13. Noah Smith‏Verified account @Noahpinion Oct 26

        Remember, you can watch the panel live right now at https://twitter.com/bopinion 

        1 reply 1 retweet 3 likes
        Show this thread
      14. Noah Smith‏Verified account @Noahpinion Oct 26

        Ritholtz: I trust Netflix and Google with my data, much more apprehensive about Facebook

        3 replies 1 retweet 14 likes
        Show this thread
      15. Noah Smith‏Verified account @Noahpinion Oct 26

        Ritholtz: Amazon and Netflix are more trustworthy, and this has been reflected in their stock values. FB stock has struggled because people don't really trust it.

        1 reply 1 retweet 12 likes
        Show this thread
      16. Noah Smith‏Verified account @Noahpinion Oct 26

        Bershidsky: Google is more vulnerable to antitrust than Amazon because Amazon doesn't have a dominant position in most markets.

        4 replies 0 retweets 9 likes
        Show this thread
      17. Noah Smith‏Verified account @Noahpinion Oct 26

        Feldman: Has any American monopoly been broken up regulated when people loved that monopoly? No. They only get regulated or broken up when the public is lukewarm or negative on a company.

        3 replies 6 retweets 10 likes
        Show this thread
      18. Noah Smith‏Verified account @Noahpinion Oct 26

        Ritholtz: Companies become creepy when they misuse your data, with fake news or ads that follow you around.

        1 reply 0 retweets 6 likes
        Show this thread
      19. Noah Smith‏Verified account @Noahpinion Oct 26

        Kaissar: The business cycle matters for opinions of tech companies. If we have a downturn and Big Tech gets hammered, the (regulatory) situation might change quickly.

        6 replies 1 retweet 5 likes
        Show this thread
      20. Noah Smith‏Verified account @Noahpinion Oct 26

        Ooh look I can paste a link of the live video into my tweets!!https://twitter.com/i/broadcasts/1ynJOYMplRlKR …

        1 reply 1 retweet 7 likes
        Show this thread
      21. Noah Smith‏Verified account @Noahpinion Oct 26

        Ritholtz: Uber messed up by flouting the law. Feldman: OK, so you mess up, you apologize, you replace your CEO, and you're fine! Ritholtz: Uber lost market value because of Kalanick.

        1 reply 0 retweets 3 likes
        Show this thread
      22. Noah Smith‏Verified account @Noahpinion Oct 26

        Ovide: Regulators cracked down too hard on scooters because they felt they had messed up earlier by under-regulating Uber.

        1 reply 0 retweets 8 likes
        Show this thread
      23. Noah Smith‏Verified account @Noahpinion Oct 26

        Kaissar: Young people care a lot about ethical investing. If you do ethical investing you can't invest in Uber.

        1 reply 2 retweets 11 likes
        Show this thread
      24. Noah Smith‏Verified account @Noahpinion Oct 26

        Ritholtz: Ethical investing can push companies like Uber to have balanced boards and C-suites instead of a bro culture.

        2 replies 2 retweets 14 likes
        Show this thread
      25. Noah Smith‏Verified account @Noahpinion Oct 26

        Kaissar: You don't have a choice not to use Facebook. Therefore, contracts between individuals and Facebook are essentially forced contracts.

        4 replies 5 retweets 11 likes
        Show this thread
      26. Noah Smith‏Verified account @Noahpinion Oct 26

        https://twitter.com/i/broadcasts/1ynJOYMplRlKR … The interesting discussion continues...

        1 reply 0 retweets 5 likes
        Show this thread
      27. Noah Smith‏Verified account @Noahpinion Oct 26

        Questions from the audience: Singapore and other countries can suck away talent from America by being more proactive in their regulation. Will the U.S. lose global tech leadership due to slow, reactive regulation?

        3 replies 0 retweets 8 likes
        Show this thread
      28. Noah Smith‏Verified account @Noahpinion Oct 26

        The idea is that "regulatory sandboxes" - zones of light regulation - can let an industry develop, giving regulators a much better idea of how to regulate that market.

        5 replies 0 retweets 12 likes
        Show this thread
      29. Noah Smith‏Verified account @Noahpinion Oct 26

        Anyway, that's a wrap! Hope you all enjoyed this Bloomberg Ideas conference! We'll have another in six months! (end)

        2 replies 0 retweets 5 likes
        Show this thread
      30. End of conversation

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