It’s been about 5 years since Jim Cramer and Bob Lang coined the acronym “FANG” for mega-cap high growth stocks Facebook, Amazon, Netflix and Alphabet Google.
And while it just happens to lead a handy acronym, Facebook is quite possibly the most controversial tech company of all time.
For most, this is due to one person, Facebook’s CEO, Mark Zuckerberg. It has been almost a decade since the movie about Facebook and its founder, The Social Network, hit with such force.
We remain fascinated by Facebook and Zuckerberg. We want to learn more, but we want something different. That’s why I was drawn in by a book review for “Zucked.” Here’s how it begins:
The dystopia George Orwell conjured up in “1984” wasn’t a prediction. It was, instead, a reflection. Newspeak, the Ministry of Truth, the Inner Party, the Outer Party — that novel sampled and remixed a reality that Nazi and Soviet totalitarianism had already made apparent. Scary stuff, certainly, but maybe the more frightening dystopia is the one no one warned you about, the one you wake up one morning to realize you’re living inside.
Roger McNamee, an esteemed venture capitalist, would appear to agree. “A dystopian technology future overran our lives before we were ready,” he writes in “Zucked.” Think that sounds like overstatement? Let’s examine the evidence. At its peak the planet’s fourth most valuable company, and arguably its most influential, is controlled almost entirely by a young man with the charisma of a geometry T.A. The totality of this man’s professional life has been running this company, which calls itself “a platform.”
Company, platform — whatever it is, it provides a curious service wherein billions of people fill it with content: baby photos, birthday wishes, concert promotions, psychotic premonitions of Jewish lizard-men. No one is paid by the company for this labor; on the contrary, users are rewarded by being tracked across the web, even when logged out, and consequently strip-mined by a complicated artificial intelligence trained to sort surveilled information into approximately 29,000 predictive data points, which are then made available to advertisers and other third parties, who now know everything that can be known about a person without trepanning her skull. Amazingly, none of this is secret, despite the company’s best efforts to keep it so. Somehow, people still use and love this platform. Want more? You can read the full article here
