Think of Facebook as a money maker, not a babysitter: Morning Brief
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Thursday 7 October 2021
Connect to Facebook what you want – but stop thinking of it as a parent
It’s a symbol of the strange times we live in when a publicly traded giant begs for practically billions of dollars, but that’s the predicament in which Facebook finds itself – under pressure from within and from within -.
In recent years, the social network has survived a number of PR disasters, including controversy over data security, the use of algorithms, and a moderation of seemingly permissive content that gives oxygen to anti-vaccine sentiment and the January 6 protesters.
But the current fires, sparked by the damned show in the Wall Street Journal, detailing how Instagram has become detrimental to young girls’ self-image, look sharper than usual — especially with Disclosure of violations to the public through her personal account on Facebook internal business. It encourages critics who want the platform to reveal more about its private data.
“This is all frankly, Facebook is fueling the fire because it’s not giving away data and not providing more transparency with its product,” said Nina Jankovic, a Wilson Global Center fellow at Yahoo Finance Live on Wednesday. She added that more information was needed for the public to understand “how their algorithms govern our social media”.
After being battered by angry regulators and commentators, Facebook is now in an awkward position to issue a call to its investigators for more censorship, such as Monica Bickert told Yahoo Finance’s Danielle Hawley in an exclusive interview published on Wednesday.
It certainly looks as if Facebook’s Teflon is starting to fall apart, and may receive the same treatment that Big Tobacco received in the 1990s — all of which raises the question of how the company is properly defined.
social network? General facilities? Private company? publisher? Undertaker of discord and misinformation?
All of what?
Of all the ways Facebook can be defined or misrepresented, it’s arguably the best to think of it as a money press. As a few observers have pointed out, the anti-Facebook campaigns have only generated more advertising dollars and active users, underscoring how hundreds of millions want to use it to stay connected – and how companies large and small want to reach those people.
In fact, while Facebook’s stock has come under pressure amid scrutiny, He loses 5% on Monday aloneIt’s sitting inside The upper range of the 52-week trading range. This indicates that investors are not nearly as angry as some segments of the public.
Facebook provides a “social media platform for people to use for free because advertisers pay for it. Their source of income is ads,” Evan Fenceth, director of research at Tigress Financial Partners, told Yahoo Finance Live on Wednesday.
“From a business point of view, they’ve survived every scandal, including the times when people say they should boycott Facebook,” he said. “It’s a platform for interaction and a platform for sharing.”
There’s also one sign that Facebook can’t and should never be forced to put up with: a father.
Lost in the current storm is that platform use is entirely voluntary, and that users – or those responsible for their own well-being – can either turn off the power completely, or exercise stricter jurisdiction over how long they spend on the platform.
In a recent article, New York Post columnist Carol Markovic hit the nail in the head. Parents urged Stop thinking of social media as a babysitter – or act as if to deprive adults of their agency.
We don’t need to give social media such power over us. “If you get to where social media makes you feel bad, stop using it,” Markovic wrote. “Stop pretending it’s closer to eliminating addiction, and make the decision to make yourself happier by blocking out the voices that tell you you’re not good enough.”
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