Former Facebook exec says social media is ripping apart society

Authored by theverge.com and submitted by stereomatch

Another former Facebook executive has spoken out about the harm the social network is doing to civil society around the world. Chamath Palihapitiya, who joined Facebook in 2007 and became its vice president for user growth, said he feels “tremendous guilt” about the company he helped make. “I think we have created tools that are ripping apart the social fabric of how society works,” he told an audience at Stanford Graduate School of Business, before recommending people take a “hard break” from social media.

Palihapitiya’s criticisms were aimed not only at Facebook, but the wider online ecosystem. “The short-term, dopamine-driven feedback loops we’ve created are destroying how society works,” he said, referring to online interactions driven by “hearts, likes, thumbs-up.” “No civil discourse, no cooperation; misinformation, mistruth. And it’s not an American problem — this is not about Russians ads. This is a global problem.”

He went on to describe an incident in India where hoax messages about kidnappings shared on WhatsApp led to the lynching of seven innocent people. “That’s what we’re dealing with,” said Palihapitiya. “And imagine taking that to the extreme, where bad actors can now manipulate large swathes of people to do anything you want. It’s just a really, really bad state of affairs.” He says he tries to use Facebook as little as possible, and that his children “aren’t allowed to use that shit.” He later adds, though, that he believes the company “overwhelmingly does good in the world.”

Palihapitiya’s remarks follow similar statements of contrition from others who helped build Facebook into the powerful corporation it is today. In November, early investor Sean Parker said he has become a “conscientious objector” to social media, and that Facebook and others had succeeded by “exploiting a vulnerability in human psychology.” A former product manager at the company, Antonio Garcia-Martinez, has said Facebook lies about its ability to influence individuals based on the data it collects on them, and wrote a book, Chaos Monkeys, about his work at the firm.

These former employees have all spoken out at a time when worry about Facebook’s power is reaching fever pitch. In the past year, concerns about the company’s role in the US election and its capacity to amplify fake news have grown, while other reports have focused on how the social media site has been implicated in atrocities like the “ethnic cleansing” of Myanmar’s Rohingya ethnic group.

In his talk, Palihapitiya criticized not only Facebook, but Silicon Valley’s entire system of venture capital funding. He said that investors pump money into “shitty, useless, idiotic companies,” rather than addressing real problems like climate change and disease. Palihapitiya currently runs his own VC firm, Social Capital, which focuses on funding companies in sectors like healthcare and education.

Palihapitiya also notes that although tech investors seem almighty, they’ve achieved their power more through luck than skill. “Everybody’s bullshitting,” he said. “If you’re in a seat, and you have good deal flow, and you have precious capital, and there’s a massive tailwind of technological change ... Over time you get one of the 20 [companies that become successful] and you look like a genius. And nobody wants to admit that but that’s the fucking truth.”

WingerRules on December 11st, 2017 at 16:14 UTC »

Its not just social media but its how the search engines, youtube, advertisers, and even some news sites operate. They're all designed now to tailor everything so it only "shows you what you want to see". People are less likely to be seeing diverse, conflicting, unbiased, or even factually-correcting information once they're inside their own profiled bubble and become more and more polarized.

Around mid 2000 there were people warning about this kind personalized information bubbles engines were developing and it turns out they were exactly correct.

elshizzo on December 11st, 2017 at 15:58 UTC »

I recommend people check out the full video, he's got a lot of interesting points.

stereomatch on December 11st, 2017 at 14:48 UTC »

Chamath Palihapitiya, who joined Facebook in 2007 and became its vice president for user growth, said he feels “tremendous guilt” about the company he helped make. “I think we have created tools that are ripping apart the social fabric of how society works,” he told an audience at Stanford Graduate School of Business, before recommending people take a “hard break” from social media.

Palihapitiya’s criticisms were aimed not only at Facebook, but the wider online ecosystem. “The short-term, dopamine-driven feedback loops we’ve created are destroying how society works,” he said .. This is a global problem.”

In November, early investor Sean Parker said he has become a “conscientious objector” to social media, and that Facebook and others had succeeded by “exploiting a vulnerability in human psychology.” A former product manager at the company, Antonio Garcia-Martinez, has said Facebook lies about its ability to influence individuals based on the data it collects on them, and wrote a book, Chaos Monkeys, about his work at the firm.

In his talk, Palihapitiya criticized not only Facebook, but Silicon Valley’s entire system of venture capital funding. He said that investors pump money into “shitty, useless, idiotic companies,” rather than addressing real problems like climate change and disease.

56 minute talk:

Chamath Palihapitiya, Founder and CEO Social Capital, on Money as an Instrument of Change

Comments above start at 21:21 minute mark - link for that:

Chamath Palihapitiya, Founder and CEO Social Capital, on Money as an Instrument of Change

Broadly however, the talk is about "money as an instrument of change" (as counter to Koch Brothers), and the weaknesses in current venture capital models (who have a human-centered business process). Is essentially pitching his Social Capital company as the Amazon AWS of venture capital.

He points out that there is 2% overlap between successive successful investments - which means venture capital success is a one-off success (previous success not indicative of future success) - which is pretty well known statistic about venture capital success stories.

Another of his arguments is for businesses to wire for steady growth over longer term - and for people to also do that (which social media is militating against by wiring them for fast response/gratification instead).