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[Cambridge Analytica], [Facebook], and Data Security.

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Posts

  • VeeveeVeevee WisconsinRegistered User regular
    Hexmage-PA wrote: »
    Me: "Facebook is doing a lot of shady things."
    Also Me: "Facebook and Messenger are the primary ways I keep in contact with friends."

    I assume "Me" includes A LOT of "Me's".

    It's actually really great to not be constantly updated about what your friends are doing. Gives you even more to talk about when you see them.

    schussZilla360PolaritieMan in the Mists
  • Hexmage-PAHexmage-PA Registered User regular
    Hexmage-PA wrote: »
    Me: "Facebook is doing a lot of shady things."
    Also Me: "Facebook and Messenger are the primary ways I keep in contact with friends."

    I assume "Me" includes A LOT of "Me's".
    Veevee wrote: »
    Hexmage-PA wrote: »
    Me: "Facebook is doing a lot of shady things."
    Also Me: "Facebook and Messenger are the primary ways I keep in contact with friends."

    I assume "Me" includes A LOT of "Me's".

    It's actually really great to not be constantly updated about what your friends are doing. Gives you even more to talk about when you see them.

    LOL. Seeing people in person...good one!

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  • JazzJazz UKRegistered User regular
    Veevee wrote: »
    Hexmage-PA wrote: »
    Me: "Facebook is doing a lot of shady things."
    Also Me: "Facebook and Messenger are the primary ways I keep in contact with friends."

    I assume "Me" includes A LOT of "Me's".

    It's actually really great to not be constantly updated about what your friends are doing. Gives you even more to talk about when you see them.

    Not easy when a huge proportion of them are many time zones away. Edge case, I admit, but still.

  • CelestialBadgerCelestialBadger Registered User regular
    Facebook is a healthy part of life when used to keep in contact with people you know. It went bad when they decided that they were in the business of selling data on their users in ways that allow ultra-targeted political ads/political data mining. Then our feeds got loaded with infuriating stuff. Why couldn’t they have just stuck with things like marketing diapers to parents, or the Ohio State Fair to people who live in Ohio?

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  • HappylilElfHappylilElf Registered User regular
    Hexmage-PA wrote: »
    Me: "Facebook is doing a lot of shady things."
    Also Me: "Facebook and Messenger are the primary ways I keep in contact with many of my friends."

    I assume "Me" includes A LOT of "Me's".

    EDIT: Like, if Facebook vanished tomorrow that would be like losing dozens of people from my daily life. I (usually) enjoy seeing what people are up to.

    If Facebook was broken up and the messenger part couldn't survive and went under/had to shut down for some reason I guess you might have to text these people

    the horror

  • CelestialBadgerCelestialBadger Registered User regular
    Hexmage-PA wrote: »
    Me: "Facebook is doing a lot of shady things."
    Also Me: "Facebook and Messenger are the primary ways I keep in contact with many of my friends."

    I assume "Me" includes A LOT of "Me's".

    EDIT: Like, if Facebook vanished tomorrow that would be like losing dozens of people from my daily life. I (usually) enjoy seeing what people are up to.

    If Facebook was broken up and the messenger part couldn't survive and went under/had to shut down for some reason I guess you might have to text these people

    the horror

    Nothing so annoying as trying to organize a party via text message.

    CouscousmcdermottJulius
  • OrcaOrca Registered User regular
    Skype/Slack/Teams/Discord/IRC/tin cans and string...

    There was life before Facebook.

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  • FencingsaxFencingsax It is difficult to get a man to understand, when his salary depends upon his not understanding GNU Terry PratchettRegistered User regular
    Is there a functional difference between group text and messenger?

    torchlight-sig-80.jpg
  • Hexmage-PAHexmage-PA Registered User regular
    I just know hardly anyone I talk to uses text messages and instead uses Messenger exclusively. My cousin tried to stop using Messenger for a while but found her friends were much less likely to respond to text messages for whatever reason, so she started using it again.

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  • HappylilElfHappylilElf Registered User regular
    Hexmage-PA wrote: »
    I just know hardly anyone I talk to uses text messages and instead uses Messenger exclusively. My cousin tried to stop using Messenger for a while but found her friends were much less likely to respond to text messages for whatever reason, so she started using it again.

    If messenger stopped existing I guarantee you that would change.

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  • CouscousCouscous Registered User regular
    https://www.nytimes.com/2018/11/17/technology/facebook-mark-zuckerberg.html
    In an hourlong videoconference broadcast to Facebook offices around the world, Mr. Zuckerberg responded to questions from employees on a range of topics, from Facebook’s behavior over the past 18 months to how it should handle leaks to the media, according to three people familiar with the discussion but not willing to discuss it publicly because it was a private meeting.

    The idea that Facebook tried to “cover up anything” was dead wrong, an impassioned Mr. Zuckerberg said, using an expletive in his response, according to these people. Some employees responded with muted applause and cheers.
    Some Facebook employees indicated that they believe The Times and other news outlets are unfairly targeting the company because of its outsize influence — a sentiment shared in the session on Friday when employees asked executives what would happen to employees who leak information to the press.

    Mr. Zuckerberg made it clear that Facebook would not hesitate to fire employees who spoke to The New York Times or other publications. But after an employee asked whether the company should issue a report about how many leakers Facebook had found and fired, Mr. Zuckerberg played down the idea.

    Leaks, he said, are usually caused by “issues with morale.”
    ...its outsize influence is exactly why news organizations should target it for investigation!

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  • DedwrekkaDedwrekka What Would Nyarlathotep Do? Registered User regular
    Fencingsax wrote: »
    Is there a functional difference between group text and messenger?

    Some people (not me) have phone plans that don't give unlimited texts, but can have wifi access. Also messenger works on desktop as well. However there's so many other, better apps than messenger that it could fall into the sea and we'd be okay.

    BullheadZilla360Hacksaw
  • XaquinXaquin Right behind you!Registered User regular
    Honestly if Facebook and Twitter were deleted from the internet a replacement would be up and running inside a month

    I'd be happy if there was another game in town that people actually used

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  • AngelHedgieAngelHedgie Registered User regular
    Couscous wrote: »
    https://www.nytimes.com/2018/11/17/technology/facebook-mark-zuckerberg.html
    In an hourlong videoconference broadcast to Facebook offices around the world, Mr. Zuckerberg responded to questions from employees on a range of topics, from Facebook’s behavior over the past 18 months to how it should handle leaks to the media, according to three people familiar with the discussion but not willing to discuss it publicly because it was a private meeting.

    The idea that Facebook tried to “cover up anything” was dead wrong, an impassioned Mr. Zuckerberg said, using an expletive in his response, according to these people. Some employees responded with muted applause and cheers.
    Some Facebook employees indicated that they believe The Times and other news outlets are unfairly targeting the company because of its outsize influence — a sentiment shared in the session on Friday when employees asked executives what would happen to employees who leak information to the press.

    Mr. Zuckerberg made it clear that Facebook would not hesitate to fire employees who spoke to The New York Times or other publications. But after an employee asked whether the company should issue a report about how many leakers Facebook had found and fired, Mr. Zuckerberg played down the idea.

    Leaks, he said, are usually caused by “issues with morale.”
    ...its outsize influence is exactly why news organizations should target it for investigation!

    One major problem with the tech industry is that the tech press pretty much is as much a lapdog as your average Pekingese or Pomeranian.

    (Honestly, we could replace most of the tech press with the aforementioned dogs and see a marked improvement.)

    Because of that, tech workers have a very skewed view of the press, and when they interact with the real press, you routinely get them complaining about the press doing its job.

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  • FencingsaxFencingsax It is difficult to get a man to understand, when his salary depends upon his not understanding GNU Terry PratchettRegistered User regular
    The tech press are more enthusiast press than journalists, a lot of the time.

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  • shrykeshryke Member of the Beast Registered User regular
    Fencingsax wrote: »
    The tech press are more enthusiast press than journalists, a lot of the time.

    That's what happens when your industry really starts post-internet. The first people with their feet in the door on covering you are fans basically blogging to other fans about the cool new info they just learned.

  • Kipling217Kipling217 Registered User regular
    edited November 2018
    shryke wrote: »
    Fencingsax wrote: »
    The tech press are more enthusiast press than journalists, a lot of the time.

    That's what happens when your industry really starts post-internet. The first people with their feet in the door on covering you are fans basically blogging to other fans about the cool new info they just learned.

    No where is this more apparent then in Games part of the tech press. Its probably why Gamergate got so big so quickly, because "Its really about ethics of Games Journalism" on its own is a pretty good line of attack on the game press and the biggest thing that opposed Gamergate wasn't the press itself, but people quite rightly pointing out that Gamergate wasn't actually attacking the Game Press, but random women and minorites.

    Edit: Oh and to bring it back to Facebook, Gamergate used Facebook to recruit members, spread memes and target people. People bitch about Russian Trolls and Fake News, but a lot of the Russian success was just being an amplifier to already existing sources. Gamergate got a lot of recruits that never would have heard about it through "funny" Memes shared on Facebook.

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  • FencingsaxFencingsax It is difficult to get a man to understand, when his salary depends upon his not understanding GNU Terry PratchettRegistered User regular
    Games media is absolutely enthusiast press

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  • DedwrekkaDedwrekka What Would Nyarlathotep Do? Registered User regular
    Xaquin wrote: »
    Honestly if Facebook and Twitter were deleted from the internet a replacement would be up and running inside a month

    I'd be happy if there was another game in town that people actually used

    It's the MMO problem writ large.
    A bunch of people start using Thing X.
    People stop using Thing Y in order to connect with all their friends using Thing X.
    Companies jump over to Thing X, and now it's where you go to interact with personalities and companies.
    Nothing is able to topple Thing X because people don't jump over to the next thing because all their friends stay on Thing X so they continue to use Thing X.

  • CelestialBadgerCelestialBadger Registered User regular
    If Twitter and Facebook disappeared overnight, the thing that replaced them would have the same problems, because it’s a data privacy/harassment regulatory problem. Closing them down without doing anything about that would be like closing down the specific meat factory Upton Sinclair wrote about without changing food/worker safety regulations.

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  • HefflingHeffling No Pic EverRegistered User regular
    If Twitter and Facebook disappeared overnight, the thing that replaced them would have the same problems, because it’s a data privacy/harassment regulatory problem. Closing them down without doing anything about that would be like closing down the specific meat factory Upton Sinclair wrote about without changing food/worker safety regulations.

    I disagree. Facebook has data privacy problems because their business model is selling targeted advertising without caring who is buying the advertising. MySpace didn't have this issue and if Facebook fails because of it, then the next generation will have to address the issue or likewise fail.

    Twitter has harassment issues because the founder is at best a fascist sympathizer and at worst is a nazi.

    The meat factory analogy falls apart because a single meat factory has only a tiny market share. Facebook and Twitter have 90%+ of their markets. It's to the point that they currently have no effective competition.

    If a movement doesn't have someone that can sit down opposite those in a position of power and strike a deal, how can that movement achieve success?
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  • VeeveeVeevee WisconsinRegistered User regular
    edited November 2018
    Mypsace didn't have the data selling issues because selling peoples personal data was still a rather new industry, not because they were a virtuous company. I guarantee you that whoever controlled Myspace at that time is very upset with themselves for not getting in on the ground floor of the ad/data selling industry.

    Veevee on
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  • CouscousCouscous Registered User regular
    edited November 2018
    Almost every social media service is based on selling data. Even when it is advertising, the data is what makes the advertising valuable. The biggest exception is Reddit, and it shows with how their advertising revenue hasn't exactly been huge compared to other highly trafficked social media sites besides advertisers just being worried about being associated with fascists.

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  • AngelHedgieAngelHedgie Registered User regular
    One of the largest parts of the problem is that Zuckerberg is literally unaccountable to anyone but himself:
    Even before the latest scandals, there have been questions about whether too much influence within Facebook has been placed with Zuckerberg and, among some investors, pushes for him to renounce his position as chair of the board. But because of the way Facebook’s shareholder structure is set up — and the number of shares Zuckerberg holds — there’s no way for anyone to force him out.

    Because of the multi-tier stock structure, Zuckerberg controls 60% of Facebook's voting power. He controls Facebook, period.

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  • XaquinXaquin Right behind you!Registered User regular
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

  • Inquisitor77Inquisitor77 2 x Penny Arcade Fight Club Champion A fixed point in space and timeRegistered User regular
    Zuckerberg is a walking stereotype in terms of being a really smart engineer who thinks that all of life's problems are as easily solvable as writing a program, if only everyone else would get out of his way and stop being so stupid.

    See also: libertarians

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  • DoodmannDoodmann Registered User regular
    Zuckerberg is a walking stereotype in terms of being a really smart engineer who thinks that all of life's problems are as easily solvable as writing a program, if only everyone else would get out of his way and stop being so stupid.

    See also: libertarians

    AKA why Spock wasn't captain.

  • JepheryJephery Registered User regular
    Zuckerberg is a walking stereotype in terms of being a really smart engineer who thinks that all of life's problems are as easily solvable as writing a program, if only everyone else would get out of his way and stop being so stupid.

    See also: libertarians

    I've had programmers remark that if programmers wrote the law, it would be less full of loopholes.

    And I'm just like "wtf our code is awful and full of bugs constantly."

    }
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  • AngelHedgieAngelHedgie Registered User regular
    Xaquin wrote: »
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

    You shouldn't be. The entire point of voting shares is to allow investors to have say in the company's planning - and the point of multi-tier stock setups like Facebook is to not allow that oversight. Again, if Zuckerberg knew that he could be forced out on his ass, he would be acting very differently.

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  • XaquinXaquin Right behind you!Registered User regular
    Xaquin wrote: »
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

    You shouldn't be. The entire point of voting shares is to allow investors to have say in the company's planning - and the point of multi-tier stock setups like Facebook is to not allow that oversight. Again, if Zuckerberg knew that he could be forced out on his ass, he would be acting very differently.

    I suppose, though wouldn't it just be a different owner or whoever held the most stock (or even two or three people)?

  • HamHamJHamHamJ Registered User regular
    Xaquin wrote: »
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

    You shouldn't be. The entire point of voting shares is to allow investors to have say in the company's planning - and the point of multi-tier stock setups like Facebook is to not allow that oversight. Again, if Zuckerberg knew that he could be forced out on his ass, he would be acting very differently.

    If you don't like it don't buy Facebook shares. I don't see any reason why giving investors a majority vote would be any sort of legal or moral imperative. If the industry needs regulation than regulate it, if a company breaks the law than prosecute it. But what you are suggesting is not any kind of sensible financial regulation.

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  • ShortyShorty JUDGE BROSEF Registered User regular
    Zuckerberg is a walking stereotype in terms of being a really smart engineer who thinks that all of life's problems are as easily solvable as writing a program, if only everyone else would get out of his way and stop being so stupid.

    See also: libertarians

    I'd be shocked to find out he's ever read a book that he wasn't forced to

    Tube wrote: »
    I was legit hoping that Shorty was somehow mistaken and the world wasn't that fucked
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  • AngelHedgieAngelHedgie Registered User regular
    Xaquin wrote: »
    Xaquin wrote: »
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

    You shouldn't be. The entire point of voting shares is to allow investors to have say in the company's planning - and the point of multi-tier stock setups like Facebook is to not allow that oversight. Again, if Zuckerberg knew that he could be forced out on his ass, he would be acting very differently.

    I suppose, though wouldn't it just be a different owner or whoever held the most stock (or even two or three people)?

    The thing is that in a single tier system, the majority owners would most likely be institutional investors like CalPERS, not an individual like Zuckerberg. The whole point of the multi-tier setup is to grant insiders - or even a single individual - an overly powerful voice to let them retain control. Zuckerberg's shares give him 10 votes to a regular share's 1,so he can retain control while having a small portion of the share base.

    It is not surprising or coincidence that the big tech companies that have been behaving badly have multi-tier stock setups keeping control in the hands of the founders.
    HamHamJ wrote: »
    Xaquin wrote: »
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

    You shouldn't be. The entire point of voting shares is to allow investors to have say in the company's planning - and the point of multi-tier stock setups like Facebook is to not allow that oversight. Again, if Zuckerberg knew that he could be forced out on his ass, he would be acting very differently.

    If you don't like it don't buy Facebook shares. I don't see any reason why giving investors a majority vote would be any sort of legal or moral imperative. If the industry needs regulation than regulate it, if a company breaks the law than prosecute it. But what you are suggesting is not any kind of sensible financial regulation.

    Huh? As the article points out, there's a push to have the NYSE introduce a phase out of multi tier stock configurations, because (unsurprisingly) a system where the founders keep all the control while letting investors shoulder the risk winds up being a drag on stock prices. The whole point of the multi-tier system is to allow the founders to maintain control with a small stake, and it unsurprisingly creates systems of unaccountability.

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  • HefflingHeffling No Pic EverRegistered User regular
    Xaquin wrote: »
    Xaquin wrote: »
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

    You shouldn't be. The entire point of voting shares is to allow investors to have say in the company's planning - and the point of multi-tier stock setups like Facebook is to not allow that oversight. Again, if Zuckerberg knew that he could be forced out on his ass, he would be acting very differently.

    I suppose, though wouldn't it just be a different owner or whoever held the most stock (or even two or three people)?

    The thing is that in a single tier system, the majority owners would most likely be institutional investors like CalPERS, not an individual like Zuckerberg. The whole point of the multi-tier setup is to grant insiders - or even a single individual - an overly powerful voice to let them retain control. Zuckerberg's shares give him 10 votes to a regular share's 1,so he can retain control while having a small portion of the share base.

    It is not surprising or coincidence that the big tech companies that have been behaving badly have multi-tier stock setups keeping control in the hands of the founders.
    HamHamJ wrote: »
    Xaquin wrote: »
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

    You shouldn't be. The entire point of voting shares is to allow investors to have say in the company's planning - and the point of multi-tier stock setups like Facebook is to not allow that oversight. Again, if Zuckerberg knew that he could be forced out on his ass, he would be acting very differently.

    If you don't like it don't buy Facebook shares. I don't see any reason why giving investors a majority vote would be any sort of legal or moral imperative. If the industry needs regulation than regulate it, if a company breaks the law than prosecute it. But what you are suggesting is not any kind of sensible financial regulation.

    Huh? As the article points out, there's a push to have the NYSE introduce a phase out of multi tier stock configurations, because (unsurprisingly) a system where the founders keep all the control while letting investors shoulder the risk winds up being a drag on stock prices. The whole point of the multi-tier system is to allow the founders to maintain control with a small stake, and it unsurprisingly creates systems of unaccountability.

    His share structure is because he was smart enough not to give up majority control. A lot of people have lost their life's work and legacy because they sold off too much of their company.

    If a movement doesn't have someone that can sit down opposite those in a position of power and strike a deal, how can that movement achieve success?
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  • PolaritiePolaritie Sleepy Registered User regular
    Heffling wrote: »
    Xaquin wrote: »
    Xaquin wrote: »
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

    You shouldn't be. The entire point of voting shares is to allow investors to have say in the company's planning - and the point of multi-tier stock setups like Facebook is to not allow that oversight. Again, if Zuckerberg knew that he could be forced out on his ass, he would be acting very differently.

    I suppose, though wouldn't it just be a different owner or whoever held the most stock (or even two or three people)?

    The thing is that in a single tier system, the majority owners would most likely be institutional investors like CalPERS, not an individual like Zuckerberg. The whole point of the multi-tier setup is to grant insiders - or even a single individual - an overly powerful voice to let them retain control. Zuckerberg's shares give him 10 votes to a regular share's 1,so he can retain control while having a small portion of the share base.

    It is not surprising or coincidence that the big tech companies that have been behaving badly have multi-tier stock setups keeping control in the hands of the founders.
    HamHamJ wrote: »
    Xaquin wrote: »
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

    You shouldn't be. The entire point of voting shares is to allow investors to have say in the company's planning - and the point of multi-tier stock setups like Facebook is to not allow that oversight. Again, if Zuckerberg knew that he could be forced out on his ass, he would be acting very differently.

    If you don't like it don't buy Facebook shares. I don't see any reason why giving investors a majority vote would be any sort of legal or moral imperative. If the industry needs regulation than regulate it, if a company breaks the law than prosecute it. But what you are suggesting is not any kind of sensible financial regulation.

    Huh? As the article points out, there's a push to have the NYSE introduce a phase out of multi tier stock configurations, because (unsurprisingly) a system where the founders keep all the control while letting investors shoulder the risk winds up being a drag on stock prices. The whole point of the multi-tier system is to allow the founders to maintain control with a small stake, and it unsurprisingly creates systems of unaccountability.

    His share structure is because he was smart enough not to give up majority control. A lot of people have lost their life's work and legacy because they sold off too much of their company.

    You can retain majority control without screwy share structures. But you can't sell as many shares for the $$$ then.

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  • AngelHedgieAngelHedgie Registered User regular
    Heffling wrote: »
    Xaquin wrote: »
    Xaquin wrote: »
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

    You shouldn't be. The entire point of voting shares is to allow investors to have say in the company's planning - and the point of multi-tier stock setups like Facebook is to not allow that oversight. Again, if Zuckerberg knew that he could be forced out on his ass, he would be acting very differently.

    I suppose, though wouldn't it just be a different owner or whoever held the most stock (or even two or three people)?

    The thing is that in a single tier system, the majority owners would most likely be institutional investors like CalPERS, not an individual like Zuckerberg. The whole point of the multi-tier setup is to grant insiders - or even a single individual - an overly powerful voice to let them retain control. Zuckerberg's shares give him 10 votes to a regular share's 1,so he can retain control while having a small portion of the share base.

    It is not surprising or coincidence that the big tech companies that have been behaving badly have multi-tier stock setups keeping control in the hands of the founders.
    HamHamJ wrote: »
    Xaquin wrote: »
    Didn't he create facebook?

    I'm ok with that. Just not the fact that facebook sucks and someone with the knowhow and actual scruples should make a better version or something.

    You shouldn't be. The entire point of voting shares is to allow investors to have say in the company's planning - and the point of multi-tier stock setups like Facebook is to not allow that oversight. Again, if Zuckerberg knew that he could be forced out on his ass, he would be acting very differently.

    If you don't like it don't buy Facebook shares. I don't see any reason why giving investors a majority vote would be any sort of legal or moral imperative. If the industry needs regulation than regulate it, if a company breaks the law than prosecute it. But what you are suggesting is not any kind of sensible financial regulation.

    Huh? As the article points out, there's a push to have the NYSE introduce a phase out of multi tier stock configurations, because (unsurprisingly) a system where the founders keep all the control while letting investors shoulder the risk winds up being a drag on stock prices. The whole point of the multi-tier system is to allow the founders to maintain control with a small stake, and it unsurprisingly creates systems of unaccountability.

    His share structure is because he was smart enough not to give up majority control. A lot of people have lost their life's work and legacy because they sold off too much of their company.

    And Facebook, Alphabet, et al. are showing that the other end of the pendulum is just as bad - where you have founders who are unaccountable because there is no way to counter them.

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  • AstaerethAstaereth In the belly of the beastRegistered User regular
    Zuckerberg is not the problem; we don’t need fewer bad actors, we need regulation in place to curtail bad actors. Broadly speaking Facebook would be naturally aligned with most of the problems it presents because that’s their business model, not because Zuckerberg chooses to be a dick. I’m not discounting the personal responsibility of social media owners/CEOs to be good corporate citizens, just that yelling at them or hoping for benevolent leaders is for sure going to be less effective than just making sure they can’t do the shit we don’t want them to do. Handing the reins to some investor group only works if the group knows to fear regulatory consequences for misconduct.

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  • grumblethorngrumblethorn Registered User regular
    Facebook, Google, Twitter, Youtube (Yes I know Google) and Instagram all need to be regulated as utilities.

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  • discriderdiscrider Registered User regular
    ...
    What stops investors that own 51% of Facebook demanding Zuckerburg listen to them or they force liquidation of Facebook?
    Am I right in thinking the multi-tier system just means Zuckerburg has outsized voting power with respect to his actual share in the company?

    I'm not really seeing how a tiered structure couldn't be defeated by the actual majority shareholder, or seeing how a tiered structure is anything other than a problem the shareholders have gladly bought themselves into.

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  • AngelHedgieAngelHedgie Registered User regular
    discrider wrote: »
    ...
    What stops investors that own 51% of Facebook demanding Zuckerburg listen to them or they force liquidation of Facebook?
    Am I right in thinking the multi-tier system just means Zuckerburg has outsized voting power with respect to his actual share in the company?

    I'm not really seeing how a tiered structure couldn't be defeated by the actual majority shareholder, or seeing how a tiered structure is anything other than a problem the shareholders have gladly bought themselves into.

    Because that's the scorched earth scenario, and it ends with either Facebook being destroyed or the shareholders losing all credibility if Zuckerberg calls the bluff.

    And the argument for the multi-tier system is that it gives the founder leeway - Zuckerberg is a walking example of the problems inherent with that.

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