4 ms·

They’ve certainly faced an onslaught from the press, which has decided they are Philip Morris 2.0. It’s very unclear if that is going to translate into actual l

They’ve certainly faced an onslaught from the press, which has decided they are Philip Morris 2.0. It’s very unclear if that is going to translate into actual legal trouble. If I was at FB I’d be more concerned with how young people are rejecting it.

erect_hacker3 5y ago
I think FB should market to children more aggressively, don’t you?
pm90 5y ago
Facebook presents an existential threat to the business of most traditional news media and they have a platform that actively promotes misinformation. The Press is doing their job: finding out what goes on inside Facebook and reporting on it. As someone not really involved either way, the responses of Facebook to legitimate questions has been entirely unsatisfactory and justifies the negative coverage they’ve received.
- cbozeman 5y ago
  > Facebook presents an existential threat to the business of most traditional news media and they have a platform that actively promotes misinformation. That's mainstream media's job... that's why they're pissed. Anyone remember Mika Bres-whatever saying on national television, "They're telling people what to think! That-that's our job!" I do. https://www.youtube.com/watch?v=quU_Tbv96Wk https://www.youtube.com/watch?v=quU_Tbv96Wk
  - throwawaysea 5y ago
    I had never seen this clip before, thanks for sharing. Is there more context or a longer clip? I think I heard the woman say “that is your job” at the end but it wasn’t clear who that was directed at.
    - fallingknife 5y ago
      Reposting parent since it was illegitimately flagged: > Facebook presents an existential threat to the business of most traditional news media and they have a platform that actively promotes misinformation. That's mainstream media's job... that's why they're pissed. Anyone remember Mika Bres-whatever saying on national television, "They're telling people what to think! That-that's our job!" I do. https://www.youtube.com/watch?v=quU_Tbv96Wk https://www.youtube.com/watch?v=quU_Tbv96Wk
- MikusR 5y ago
  Facebook runs American tv and print media?
  - deleted 5y ago
    [deleted]
- fallingknife 5y ago
  > Facebook presents an existential threat to the business of most traditional news media and they have a platform that actively promotes misinformation. They (FB and the news media) do indeed.
- nprateem 5y ago
  I heard that Murdoch particularly hates FB & Google since he's lost so much ad money to them. As a result his papers have gone to great lengths to give Google/YT/FB, etc bad press to try to convince advertisers to advertise in traditional print newspapers like the good old days (for which they margins are far higher).
jd115 5y ago
Facebook's legal troubles are certainly not imaginary. They are actual, they are ongoing, they are overwhelming and there's more and more coming out all the time. Zuck and Thiel themselves are named as defendents on multiple very serious lawsuits which money alone could not spare them from (and not for lack of trying - untold billions have been spent in the past 5 years to ensure Zuck's name didn't show up on lawsuits. Until it did.)
- grp000 5y ago
  I haven't been following FB, and wasn't aware that Zuckerberg could be liable for more than financial penalties. Is it regarding Cambridge Analytics? https://www.google.com/amp/s/www.nytimes.com/2021/10/20/technology/mark-zuckerberg-facebook-lawsuit.amp.html https://www.google.com/amp/s/www.nytimes.com/2021/10/20/tech...
  - dmead 5y ago
    he's talking about how they may have misrepresented the business of the company to investors. the SEC has ongoing stuff about this.
    - throoo0ooowaway 5y ago
      This is where Matt Levine would opine "everything is securities fraud".
      - dmead 5y ago
        maybe. if nothing matters then it doesn't matter if zuck gets charged with something then.
harshitaneja 5y ago
Young people(of which I am one if 24 is considered young in this context) might reject FB but instagram(owned by FB well now meta) is probably the most engaged social media by people of younger 18-29. And whatsapp is the most used messaging platform in most regions of the world. If I was at FB, I would be most concerned with my company not being considered "cool", the potential kneejerk reaction of governments worldwide to show action(I am really skeptical that the underlying issues that led to the current issues with these megacorps would be addressed) even if there is no current legal trouble.
- freewilly1040 5y ago
  I’m afraid 24 is not young in this context. Teens are what these companies seem to care about (judging by the ad budget in the hundreds of millions), and in that demographic Instagram is behind both Snapchat and TikTok. It would seem that social media apps are like music: teens want an exciting new thing of their own (which, well, I have bad news about the coolness of music you like…) Perhaps WhatsApp’s position is stickier, I’m unsure of it’s importance I’m driving revenue however.

erect_hacker3 5y ago

I think FB should market to children more aggressively, don’t you?

pm90 5y ago

Facebook presents an existential threat to the business of most traditional news media and they have a platform that actively promotes misinformation. The Press is doing their job: finding out what goes on inside Facebook and reporting on it. As someone not really involved either way, the responses of Facebook to legitimate questions has been entirely unsatisfactory and justifies the negative coverage they’ve received.

cbozeman 5y ago
> Facebook presents an existential threat to the business of most traditional news media and they have a platform that actively promotes misinformation. That's mainstream media's job... that's why they're pissed. Anyone remember Mika Bres-whatever saying on national television, "They're telling people what to think! That-that's our job!" I do. https://www.youtube.com/watch?v=quU_Tbv96Wk https://www.youtube.com/watch?v=quU_Tbv96Wk
- throwawaysea 5y ago
  I had never seen this clip before, thanks for sharing. Is there more context or a longer clip? I think I heard the woman say “that is your job” at the end but it wasn’t clear who that was directed at.
  - fallingknife 5y ago
    Reposting parent since it was illegitimately flagged: > Facebook presents an existential threat to the business of most traditional news media and they have a platform that actively promotes misinformation. That's mainstream media's job... that's why they're pissed. Anyone remember Mika Bres-whatever saying on national television, "They're telling people what to think! That-that's our job!" I do. https://www.youtube.com/watch?v=quU_Tbv96Wk https://www.youtube.com/watch?v=quU_Tbv96Wk
MikusR 5y ago
Facebook runs American tv and print media?
- deleted 5y ago
  [deleted]
fallingknife 5y ago
> Facebook presents an existential threat to the business of most traditional news media and they have a platform that actively promotes misinformation. They (FB and the news media) do indeed.
nprateem 5y ago
I heard that Murdoch particularly hates FB & Google since he's lost so much ad money to them. As a result his papers have gone to great lengths to give Google/YT/FB, etc bad press to try to convince advertisers to advertise in traditional print newspapers like the good old days (for which they margins are far higher).

jd115 5y ago

Facebook's legal troubles are certainly not imaginary. They are actual, they are ongoing, they are overwhelming and there's more and more coming out all the time. Zuck and Thiel themselves are named as defendents on multiple very serious lawsuits which money alone could not spare them from (and not for lack of trying - untold billions have been spent in the past 5 years to ensure Zuck's name didn't show up on lawsuits. Until it did.)

grp000 5y ago
I haven't been following FB, and wasn't aware that Zuckerberg could be liable for more than financial penalties. Is it regarding Cambridge Analytics? https://www.google.com/amp/s/www.nytimes.com/2021/10/20/technology/mark-zuckerberg-facebook-lawsuit.amp.html https://www.google.com/amp/s/www.nytimes.com/2021/10/20/tech...
- dmead 5y ago
  he's talking about how they may have misrepresented the business of the company to investors. the SEC has ongoing stuff about this.
  - throoo0ooowaway 5y ago
    This is where Matt Levine would opine "everything is securities fraud".
    - dmead 5y ago
      maybe. if nothing matters then it doesn't matter if zuck gets charged with something then.

harshitaneja 5y ago

Young people(of which I am one if 24 is considered young in this context) might reject FB but instagram(owned by FB well now meta) is probably the most engaged social media by people of younger 18-29. And whatsapp is the most used messaging platform in most regions of the world. If I was at FB, I would be most concerned with my company not being considered "cool", the potential kneejerk reaction of governments worldwide to show action(I am really skeptical that the underlying issues that led to the current issues with these megacorps would be addressed) even if there is no current legal trouble.

freewilly1040 5y ago
I’m afraid 24 is not young in this context. Teens are what these companies seem to care about (judging by the ad budget in the hundreds of millions), and in that demographic Instagram is behind both Snapchat and TikTok. It would seem that social media apps are like music: teens want an exciting new thing of their own (which, well, I have bad news about the coolness of music you like…) Perhaps WhatsApp’s position is stickier, I’m unsure of it’s importance I’m driving revenue however.