I agree with mat on all points, except the part about breaking up facebook. In my mind, breaking up facebook will not create lasting competition in the social media economy. It does not address any of the potential harms of social media that i have written extensively about. We need structural reforms to the social media industry like inner operability, data and social network portability,. The strict regulation of anti competitive practices and forward looking merger oversight.
Whether we call it Facebook or the recently coined Meta, the Silicon Valley tech giant founded by Mark Zuckerberg has rarely been out of the headlines since its inception over a decade ago and rarely have those headlines been good news. From Cambridge Analytica to the United States Capitol attack, the company's utopian ideals of connecting up society seem to often have the opposite effect. However, millions of people use it to lead their daily lives, from staying in touch with each other to building businesses on its networks. Is it time to break up Facebook? To find out, economist and broadcaster Linda Yueh is joined by Matt Stoller, Director of Research at the American Economic Liberties Project and author of Goliath: The Hundred Year War Between Monopoly Power and Democracy, and Sinan Aral, Professor of Management, IT, Marketing and Data Science at MIT, and author of The Hype Machine: How Social Media Disrupts Our Elections, Our Economy and Our Health – and How We Must Adapt.
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