ALL THOSE DETAILS COMING UP
THIS MORNING.
THE POWER OF SOCIAL MEDIA.
FACEBOOK WILL INVESTIGATE
WHETHER THEY USED THAT
TECHNOLOGY GIANTS PLATFORM.
TO EXIT THE EUROPEAN UNION
LOOKING TO SEE IF WE CAN
ENGAGE IN OTHER CORE NEEDED
INVESTOR IN FACEBOOK IS
VOICING CONCERN THE MANAGING
DIRECTOR OF ELEVATION
PARTNERS.
GREAT TO SEE.
WHAT IS THE PROBLEM.
IT'S REALLY BASIC.
IT BEGAN WITH A DREAM.
IT WANTED TO CONNECT ALL THE
PEOPLE IN THE WORLD.
THERE IS SOMETHING ABOUT THE
CULTURE IN SILICON VALLEY THAT
HAS BEEN GOING ON THE LAST TEN
OR 12 YEARS.
PEOPLE FEEL LIKE IT'S OKAY TO
CHANGE THE WORLD AND NOT BE
RESPONSIBLE FOR THE
CONSEQUENCE OF WHAT YOU DO.
THEIR MOTTO WAS MOVE FAST AND
BREAK THINGS.
IF YOU THINK ABOUT THAT FOR A
MINUTE THAT IS NOT SOCIALLY
THOUGHTFUL MODEL.
THEY DID 70 GREAT THANKS.
WHAT THEY DID IT DO AS THEY
DID NOT THINK THROUGH THE FACT
THAT THE PROCESS THAT THEY USE
TO MAKE THE ADVERTISING
COMPELLING IT COULD BE USED BY
BAD ACTORS TO DISCRIMINATE IN
THE HOUSING MARKET TO TAKE
AWAY PEOPLE'S BUSY TO THROW
ELECTIONS TO DO ALL KINDS OF
REALLY BAD THINGS.
THEY'VE GOTTEN WORSE BECAUSE
THE COMPANY HAS GOTTEN BIGGER
AND MORE POWERFUL.
THEY TRY TO CONVINCE PEOPLE IT
WAS A HACK.
BUT WHEN IT WASN'T.
WE NEED PEOPLE TO BE SENSITIVE
WOULD BE MUCH MORE
PROFITABLE.
WITHOUT HARMING ITS USERS.
WHAT DO THEY SAY.
I WENT TO THEM RIGHT BEFORE
THE ELECTION THINKING THAT THE
PROBLEM WAS STRUCTURAL.
SMALLER ISSUE THAN SOME OF THE
OTHER STUFF I THOUGHT GOING
ON.
THEY SAID THIS IS A PR PROBLEM
NOT A SUBSTANCE PROBLEM.
I THINK IT'S A BIGGER ISSUE
THAN YOU ARE TALKING ABOUT.
THEY WERE NICE AND FRIENDLY
I THINK THE MOST IMPORTANT
THING THEY NEED TO DO IS GO TO
EVERY SINGLE PERSON WHO WAS
EXPLAIN TO THEM THIS IS A
FOREIGN POWER.
THEY ARE HOSTILE.
YOU MAY LIKE HOW THE ELECTION
TURNED OUT THE RUSSIANS DON'T
CARE WHAT YOU THINK.
THERE CAN HARM PEOPLE IN ANY
ELECTION.
AND GUESS WHAT IT'S NOT JUST
THE RUSSIANS.
ANYBODY CAN DO THIS.
YOU CAN EXPECT CAST IN 2018.
THEREAFTER REACH EVERY SINGLE
AMERICAN VOTER.
WE HAVE TO EXPLAIN TO THEM WE
ARE AMERICANS WE HAVE TO COME
TOGETHER AND FIX THIS.
DO YOU SUSPECT THAT WERE
ACTUALLY GET TO SEE MORE
REGULATIONS AND COMPANIES LIKE
FACEBOOK.
WE WILL HAVE THE CULTURE FOR
REGULATION TODAY.
WE SHOULD HAVE REGULATION
THERE ARE THINGS THAT WE NEED
TO DO TO PROTECT THE USERS.
THAT IS NOT GOOD FOR FACEBOOK
OR THE COUNTRY.
I WANT THEM TO MOVE TO A
SUBSCRIPTION MODEL WHICH WOULD
BE NOT PREDATORY THEN YOU GET
ALL OF THE GOOD THINGS ABOUT
THIS AMAZING SITE.
THEY'VE ALL OF US ON THIS ON
RECOGNIZE REVENUE.
AND FOR 350 A MONTH IF THEY
CHARGE 350 A MONTH IN THE
THEY ARE TODAY.
IF YOU GET RID OF THE ADS.
IF YOU GET THE STUFF YOU
WANT.
I WANT TOGGLE'S AT THE TOP.
YOU COULD MAKE THIS THING YOUR
FACEBOOK.
THEY HAVE CHANGED SO MUCH.
TELL US ABOUT THAT.
WHAT HAS BEEN THE IMPACT ON
FACEBOOK'S BUSINESS MODEL AND
HOW DO YOU SEE ADVERTISING
CHANGING FOR TECHNOLOGY IN
GENERAL.
THE PROBLEM WE HAVE TODAY IS
THESE PRODUCTS ARE SO
ADDICTIVE WE PICK UP OUR PHONE
AND WITHIN MINUTES WE ALL ARE
ADDICTED TO THAT.
THERE IS A LOT OF DANGER IN
THAT.
ESPECIALLY FOR KIDS.
THEY CONVINCE THE KIDS
CONVINCED KIDS THAT INSTEAD OF
HAVING A REAL RELATIONSHIP YOU
SEE THESE THINGS WERE ALL OF
YOUR FRIENDS ARE AT A PARTY IN
ONLINE LIFE.
THAT IS WHAT MAKES THE ADS
THEY ALWAYS SAY IN NEWS.
EVERYBODY IS LIKE THE TRUMAN
SHOW.
YOU HAVE YOUR OWN A SHOW.
AND YOU PUT ON A SMART PHONE
IT'S AVAILABLE ALL THE TIME.
YOU WILL BE IN THIS POSITION
WHERE THINGS HAPPEN AND YOU'RE