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It's the same old story. Private companies in their all too often myopic view of wealth creation (falsely equating it with "making money", optimizing KPIs) push
by RGamma 6y ago
It's the same old story. Private companies in their all too often myopic view of wealth creation (falsely equating it with "making money", optimizing KPIs) push forward and extract gains from society and society gets to pick up the pieces if shit goes wrong as there must be myriads of examples for by now. It's not always obvious like with oil spills, or water pollution for instance.
Thinking of Amazon for instance, they pretty much destroyed small local vendors who did much more than just sell goods. They were also access points to local community and culture and raised diversity.
Similar story with Google and Facebook and online news outlets.
It's a question of balance of power. The interplay of society and corporations is not a one way street. Corps offer services to society while they also rely on it for resources and infrastructure and to give it legitimacy and protect its assets.
Among Big Tech firms I believe Microsoft was one of the first to understand and incorporate this and so they self-corrected. Facebook is really late to the party in this regard and I hope in a couple of years we will be able to see the situation with more sober eyes.