Author Topic: How Mark Zuckerberg became too big to fail  (Read 659 times)

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Offline jmyrlefuller

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How Mark Zuckerberg became too big to fail
« on: November 01, 2018, 10:25:52 AM »
https://www.msn.com/en-us/money/companies/how-mark-zuckerberg-became-too-big-to-fail/ar-BBPcMYa?ocid=spartandhp

by Farhad Manjoo
November 1, 2018

A few weeks ago, after Facebook revealed that tens of millions of its users’ accounts had been exposed in a security breach, I began asking people in and around the tech industry a simple question: Should Mark Zuckerberg still be running Facebook?

I’ll spare you the suspense. Just about everyone thought Mr. Zuckerberg was still the right man for the job, if not the only man for the job. This included people who currently work at Facebook, people who used to work at Facebook, financial analysts, venture capitalists, tech-skeptic activists, ardent critics of the company and its giddiest supporters.

The consensus went like this: Even if Mr. Zuckerberg — as Facebook’s founder, chief executive, chairman and most powerful shareholder — bore most of the responsibility for the company’s cataclysmic recent history, he alone possessed the stature to fix it.

(excerpt)
The enemy of my enemy is not necessarily my friend. It may just be that I have two enemies.

Offline jmyrlefuller

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Re: How Mark Zuckerberg became too big to fail
« Reply #1 on: November 01, 2018, 10:27:07 AM »
Quote
That few can imagine a Facebook without Mr. Zuckerberg, 34, underscores how unaccountable our largest tech companies have become. Mr. Zuckerberg, thanks to his own drive and brilliance, has become one of the most powerful unelected people in the world. Like an errant oil company or sugar-pumping food company, Facebook makes decisions that create huge consequences for society — and he has profited handsomely from the chaos.
Yet because of Facebook’s ownership structure — in which Mr. Zuckerberg’s shares have 10 times the voting power of ordinary shares — he is omnipotent there, answering basically to no one.
The enemy of my enemy is not necessarily my friend. It may just be that I have two enemies.


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