UPDATE January 25, 2021: “Facebook, currently the sixth most valuable company in the S&P 500, used its fourth-quarter earnings call late Wednesday to step up its case against Apple Inc., the benchmark index’s most valued enterprise,” reports the WSJ. “Chief Executive Officer Mark Zuckerberg mentioned the iPhone maker more than half a dozen times in his opening presentation, describing Apple as ‘one of our biggest competitors,’ and one that has ‘every incentive to use their dominant platform position to interfere with how our apps and other apps work, which they regularly do to preference their own.’ For good measure, he also criticized the security of Apple’s highly popular iMessage service.” Sounds like sour grapes to me.
Originally posted on August 14, 2018.
“Designed to be addictive, Facebook feels like a giant blood-engorged tick hanging off your frontal lobe,” writes Matt Taibbi in Rolling Stone. You may recall, Taibbi coined Goldman Sachs as a “[G]reat vampire squid wrapped around the face of humanity.”
In his piece on Facebook, where the median salary is $240,430, Taibbi makes a case for breaking-up the band which is more like a cult.
What is it like to be on the inside of Facebook’s corporate walls? Former senior Facebook worker Antonio Garcia Martinez wrote the book, Chaos Monkeys, in a way that Michael Lewis did about his time working at Goldman Sachs with his classic Liar’s Poker. “The culture is like an odd religion where Zuckerberg is worshipped as a deity, sort of like Scientology, but without Tom Cruise or space invaders,” explains Martinez.
“Whether Facebook is just a reflection of modern society or a key driver of it, the picture isn’t pretty,” writes Taibbi. “The company’s awesome data-mining tactics wedded to its relentless hyping of the culture of self has helped create a world where billions of people walk with bent heads, literally weighted down with their own BS, eyes glued to telescreen style mobile devices that read us faster than we can read them.”
Facebook, last year, applied for and received a patent for “Techniques”, an emotion detection tool that uses your phone’s camera to take pictures of you to determine what type of stuff to send your way, notes Taibbi.
Facebook knows how to make “you” friends that you’ll like. It has created a world where you’re connected only to those who share your opinion. “Once a citizen had a right to an opinion. Now, they feel like they have a right to their own reality,” writes Martinez:
But maybe kids don’t want to end up like their parents. Facebook has about 100 million users in America between the age of 25-44, notes Taibbi, “But it gets dicey after that, with just 6.8 million users between the ages of 13 and 17.”
Facebook critic Mark Cuban, says: “I think they are losing impact domestically, with zero influence on millennials and younger, but [they have] overwhelming influence on boomers and Gen X’ers.”
E.J. Smith - Your Survival Guy
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