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Parts of yesterday's Zuckerberg interview [0] highlighted and commented by Matt Levine today [1]: Zuckerberg: You mentioned our governance. One of the things t
by thisisit 9y ago
Parts of yesterday's Zuckerberg interview [0] highlighted and commented by Matt Levine today [1]:
Zuckerberg: You mentioned our governance. One of the things that I feel really lucky we have is this company structure where, at the end of the day, it’s a controlled company. We are not at the whims of short-term shareholders. We can really design these products and decisions with what is going to be in the best interest of the community over time.
Klein: That is one of the ways Facebook is different, but I can imagine reading it both ways. On the one hand, your control of voting shares makes you more insulated from short-term pressures of the market. On the other hand, you have a lot more personal power. There’s no quadrennial election for CEO of Facebook. And that’s a normal way that democratic governments ensure accountability. Do you think that governance structure makes you, in some cases, less accountable?
Zuckerberg: I certainly think that’s a fair question. My goal here is to create a governance structure around the content and the community that reflects more what people in the community want than what short-term-oriented shareholders might want. And if we do that well, then I think that could really break ground on governance for an internet community. But if we don’t do it well, then I think we’ll fail to handle a lot of the issues that are coming up.
[0]: https://www.vox.com/2018/4/2/17185052/mark-zuckerberg-facebook-interview-fake-news-bots-cambridge https://www.vox.com/2018/4/2/17185052/mark-zuckerberg-facebo...
[1]: https://www.bloomberg.com/view/articles/2018-04-03/it-s-just-another-day-at-the-office-for-spotify https://www.bloomberg.com/view/articles/2018-04-03/it-s-just...
- heisenbit 9y agoThese responses are quite revealing. Control is with Zuckerberg who has the best interest of the community in mind (right, giving liberal access to data and allow microtargeting to an extent that baffles everyone). It also raises the serious question whether Zuckerberg truly understands governance.