One of the key players in the #PersuasionWars I mentioned in the first post, @zeynep Tufecki. She delivered this https://youtu.be/iFTWM7HV2UI very brave TED talk back in November. /6
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@zeynep is also a columnist at the NY@nytimes [https://www.nytimes.com/column/zeynep-tufekci … ]and was one of the leading voices who revealed the Fake News problems at Facebook and held the giant's feet to the fire. /71 reply 0 retweets 0 likesShow this thread -
Here's one of her columns that was published at the height of the WTAF! moment when the world discovered (we thought) that a bunch of Macedonian teenagers had pwned Facebook's platform to weaponise Facebook. /8 https://www.nytimes.com/2016/11/15/opinion/mark-zuckerberg-is-in-denial.html …
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Since then we have come to understand a great deal more about Facebook's role in all this. And in the process the original (it just happened!) narrative was deconstructed. The role of the profit motive in all this is now front and center. /9pic.twitter.com/m6N3uIVm47
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And not just profit, but profit and power in an increasingly symbiotic embrace, endangering the core of our democratic institutions, as disclosed by
@NafeezAhmed over the NY weekend here https://www.insurgeintelligence.com/deep-state/2017/12/23/facebook-a-danger-to-democracy … /101 reply 0 retweets 1 likeShow this thread -
The logic of this is undeniable. Facebook is reaching peak revenue from advertising to double its revenues again it will need new revenue streams. And as
@zeynep warns, voter manipulation - as we now know took place in 2016 - has a powerful allure to politicians. /111 reply 0 retweets 0 likesShow this thread -
Now that the world's politicians have discovered Facebook is the medium to use to win elections - Facebook's persuasion engineers (and a growing army of data scientists) will be at the top of their speed-dials. /12
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For Facebook what probably looks like a PR problem is in fact a massive marketing boon. Having been elected - the world's Government's will turn to their new friends to help them manage their populations (and their political rivals). /13
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Consider the counter factual: 1. Nah, politicians will want to do the ethical thing and spurn the technology. 2. & nah, Facebook won't exploit their new special relationships to avoid regulation & maximise profit. Yeah right. /14
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In relation to the question of whether Facebook will exercise restraint and not try to use it s political power to maximise profit. a small reminder. The Facebook board and management have a fiduciary duty to maximise profits by any legal means . /15
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They don't have such a fiduciary duty, that is a myth.https://medium.com/bull-market/there-is-no-effective-fiduciary-duty-to-maximize-profits-939ae50d0572 …
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Replying to @zeynep @profgalloway and
Fascinating ... this seems relevant. "Henry Ford lost Dodge v. Ford — in which he was forced to pay dividends to shareholders ... because he went out of his way to insist that he was more interested in the greater good than in the Ford Motor Corporation and its shareholders."
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