Last week, I posted a blog regarding how much the big technology companies – Apple, Amazon, Alphabet, Facebook and others – work to dominate our lives in ways in which we are often dimly aware. More and more, most agree that they are largely succeeding, though the tech companies would counter that they are just delivering “goodness.”
That’s why I was intrigued by the title of a recent article: “I invested early in Google and Facebook. Now They Terrify Me.” Here’s a short excerpt:
I invested in Google and Facebook years before their first revenue and profited enormously. I was an early adviser to Facebook’s team, but I am terrified by the damage being done by these Internet monopolies.
Technology has transformed our lives in countless ways, mostly for the better. Thanks to the now ubiquitous smartphone, tech touches us from the moment we wake up until we go to sleep. While the convenience of smartphones has many benefits, the unintended consequences of well-intentioned product choices have become a menace to public health and to democracy.
The people at Facebook and Google believe that giving consumers more of what they want and like is worthy of praise, not criticism. What they fail to recognize is that their products are not making consumers happier or more successful. Like gambling, nicotine, alcohol or heroin, Facebook and Google — most importantly through its YouTube subsidiary — produce short-term happiness with serious negative consequences in the long term. Users fail to recognize the warning signs of addiction until it is too late. There are only 24 hours in a day, and technology companies are making a play for all them. The CEO of Netflix recently noted that his company’s primary competitor is sleep.
