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The CEO is the throughline in a history of billion-dollar blunders Since the IPO, he created an annual ROI of 21% for his investors. Taking risks means blu

The CEO is the throughline in a history of billion-dollar blunders Since the IPO, he created an annual ROI of 21% for his investors. Taking risks means blunders are part of the way I would say. For comparison: He outperformed the Nasdaq 100 which made 18% (plus dividends) in the same time. And he way outperformed Warren Buffet who made 14% in the same time.

_ink_ 10d ago
At what price, tho? He harms children, he hijacked the attention of billions and helped the rise of facism and hate, which if not addressed will lead into very dark times again, all for a measly 3% out perform?
- alex1138 9d ago
  There's also the allegation that a) Facebook greatly overcounted (on purpose) the impressions from autoplaying videos and b) their ads target more people in an area than physically exist "Value" is a tough thing to translate. Market cap, and whatever. Considering the fact so many people express difficulty in deleting their accounts - it won't let you, or it gets reactivated later - I'm just going to state the quiet part out loud here; Facebook's valuation is mostly or entirely fraud
- Amezarak 9d ago
  If the rise of fascism and hate is due to people being able to talk to each other on Facebook with insufficient censorship, it seems your actual problem is the system of governance that gives everyone a right to vote, even if they do it based on some nonsense they read online.
  - _ink_ 9d ago
    You are romantizising what Facebook and Instagram have become. The problem is not that people talk to each other. The problem is, that they created algos that optimize for maximal engagement and they get that by triggering the basic human feelings that create the biggest reaction: fear and anger. They literally hacked the human brain chemistry. And they don't stop when they detect that the human is struggling and getting darker and darker thoughts, but they keep pushing to extract even the last second of precision engagement.
    - Amezarak 9d ago
      "How long and often" people engage with content is a perfectly reasonable metric to optimize and a very close correlate of interest. There are, in fact, plenty of things going on in the world people should get mad about, or that they should worry about. Some people think that's climate change, some people think that's migration, some people think that's rising fascism, some people think that's Mamdami opening grocery stores. The fundamental problem people have is when other people get mad about stuff they like. That's the "fear", "anger", "hate." People who get mad about the things I like are obviously just irrational, emotionally driven puppets of The Algorithm whereas I am Englightened, Rational, and came to my opinions only through Reason and Logic. What people don't like is huge masses of people coming together and having opinions that counter our modern mainstream elite consensus. Because elites are generally pretty smart that means a lot of these opinions are, frankly, dumb. Some of them simply represent different values (pro vs anti immigration, as one example.) Both are considered intolerable. It is also perfectly true that people spend lots of time on non-politicized content. Baby videos, cat videos, feel-good human interest stories, all sorts of positive stuff is also massively popular on these platforms. That gets ignored in favor of inveighing for tight control over the political discourse because social media spreads crimethink. The Western democratic ideal is that you have to convince the masses you're right - a disturbingly large portion of the movers and shakers have decided that instead, we should control what the masses are allowed to say and know, so we don't have to fight those battles.
      - ModernMech 9d ago
        None of that addresses whether Facebook is intentionally trying to sow discord and make people depressed and anxious for profit.
        Amezarak 8d ago
        OK, so, in the vein of the original thread, can you explain how Facebook would be "sowing discord" or "making people depressed and anxious" in some specific way that isn't just spreading other people's speech (ideally, in a way that is based on some objective metrics like engagement) that is Very Bad and shouldn't be allowed? For example, are you suggesting that Facebook begin censoring information about the climate emergency because it makes people depressed and anxious? Should Facebook make sure that people don't see content they disagree with, because that promotes discord? Or is it the other way around - they shouldn't see content they agree with, because that creates an echo chamber which increases discord when they do encounter other views?
- ModernMech 9d ago
  That price is paid by us, not Zuck and his shareholders, so it was at no cost to him. Such is the problem with capitalism. Actually the rise of fascism has been great for Zuck and his shareholders, they'd like to see more of it.

_ink_ 10d ago

At what price, tho? He harms children, he hijacked the attention of billions and helped the rise of facism and hate, which if not addressed will lead into very dark times again, all for a measly 3% out perform?

alex1138 9d ago
There's also the allegation that a) Facebook greatly overcounted (on purpose) the impressions from autoplaying videos and b) their ads target more people in an area than physically exist "Value" is a tough thing to translate. Market cap, and whatever. Considering the fact so many people express difficulty in deleting their accounts - it won't let you, or it gets reactivated later - I'm just going to state the quiet part out loud here; Facebook's valuation is mostly or entirely fraud
Amezarak 9d ago
If the rise of fascism and hate is due to people being able to talk to each other on Facebook with insufficient censorship, it seems your actual problem is the system of governance that gives everyone a right to vote, even if they do it based on some nonsense they read online.
- _ink_ 9d ago
  You are romantizising what Facebook and Instagram have become. The problem is not that people talk to each other. The problem is, that they created algos that optimize for maximal engagement and they get that by triggering the basic human feelings that create the biggest reaction: fear and anger. They literally hacked the human brain chemistry. And they don't stop when they detect that the human is struggling and getting darker and darker thoughts, but they keep pushing to extract even the last second of precision engagement.
  - Amezarak 9d ago
    "How long and often" people engage with content is a perfectly reasonable metric to optimize and a very close correlate of interest. There are, in fact, plenty of things going on in the world people should get mad about, or that they should worry about. Some people think that's climate change, some people think that's migration, some people think that's rising fascism, some people think that's Mamdami opening grocery stores. The fundamental problem people have is when other people get mad about stuff they like. That's the "fear", "anger", "hate." People who get mad about the things I like are obviously just irrational, emotionally driven puppets of The Algorithm whereas I am Englightened, Rational, and came to my opinions only through Reason and Logic. What people don't like is huge masses of people coming together and having opinions that counter our modern mainstream elite consensus. Because elites are generally pretty smart that means a lot of these opinions are, frankly, dumb. Some of them simply represent different values (pro vs anti immigration, as one example.) Both are considered intolerable. It is also perfectly true that people spend lots of time on non-politicized content. Baby videos, cat videos, feel-good human interest stories, all sorts of positive stuff is also massively popular on these platforms. That gets ignored in favor of inveighing for tight control over the political discourse because social media spreads crimethink. The Western democratic ideal is that you have to convince the masses you're right - a disturbingly large portion of the movers and shakers have decided that instead, we should control what the masses are allowed to say and know, so we don't have to fight those battles.
    - ModernMech 9d ago
      None of that addresses whether Facebook is intentionally trying to sow discord and make people depressed and anxious for profit.
      - Amezarak 8d ago
        OK, so, in the vein of the original thread, can you explain how Facebook would be "sowing discord" or "making people depressed and anxious" in some specific way that isn't just spreading other people's speech (ideally, in a way that is based on some objective metrics like engagement) that is Very Bad and shouldn't be allowed? For example, are you suggesting that Facebook begin censoring information about the climate emergency because it makes people depressed and anxious? Should Facebook make sure that people don't see content they disagree with, because that promotes discord? Or is it the other way around - they shouldn't see content they agree with, because that creates an echo chamber which increases discord when they do encounter other views?
ModernMech 9d ago
That price is paid by us, not Zuck and his shareholders, so it was at no cost to him. Such is the problem with capitalism. Actually the rise of fascism has been great for Zuck and his shareholders, they'd like to see more of it.