HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » WOW!Facebook investor, fo...

Tue May 28, 2019, 05:51 PM

WOW!Facebook investor, former advisor venture capitalist Roger McNamee

told a committee hearing in Ottawa today that social media platforms should be shut down until they can be reformed.

"If your goals are to protect democracy and personal liberty, you have to be bold. You have to force a radical transformation of the business model of internet platforms," venture capitalist Roger McNamee told the House of Commons privacy and ethics committee Tuesday morning.



WOW WOW AND MORE WOW!



"At the end of the day, though, the most effective path to reform would be to shut down the platforms at least temporarily. . Any country can go first. The platforms have left you no choice. The time has come to call their bluff."


more at

https://www.cbc.ca/news/politics/facebook-grand-committee-tuesday-1.5152436







13 replies, 3104 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 13 replies Author Time Post
Reply WOW!Facebook investor, former advisor venture capitalist Roger McNamee (Original post)
zooks May 2019 OP
bahrbearian May 2019 #1
Mr.Bill May 2019 #8
Hekate May 2019 #2
zooks May 2019 #4
Ford_Prefect May 2019 #7
2naSalit May 2019 #3
UpInArms May 2019 #5
zooks May 2019 #6
yonder May 2019 #9
pecosbob May 2019 #11
UpInArms May 2019 #12
zooks May 2019 #13
AlexSFCA May 2019 #10

Response to zooks (Original post)

Tue May 28, 2019, 05:54 PM

1. Add a Fairness Doctrine to the Media.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to bahrbearian (Reply #1)

Tue May 28, 2019, 07:47 PM

8. And how would that apply here?

Be careful what you wish for.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to zooks (Original post)

Tue May 28, 2019, 05:57 PM

2. 100% agree

Will any Western democracy have the guts? The howling from FB devotees will shake the Earth -- so it's going to take a lot of spine.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Hekate (Reply #2)

Tue May 28, 2019, 06:02 PM

4. Zuckerburg and Sandburg are now in Contempt of

Canada's Parliament as they didn't show up to a hearing. That attitude makes clear that they have no plans to regulate Facebook themselves in any meaningful way. Very shocking to hear a Venture Capitalist call for such drastic governmental intervention.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to zooks (Reply #4)

Tue May 28, 2019, 07:40 PM

7. Venture or Vulture: pick your poison

Reply to this post

Back to top Alert abuse Link here Permalink


Response to zooks (Original post)

Tue May 28, 2019, 05:59 PM

3. K&R!!!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to zooks (Original post)

Tue May 28, 2019, 07:16 PM

5. McNamee should join with John Perkins

Confessions of an Economic Hit Man

Confessions of an Economic Hit Man is a partly autobiographical book written by John Perkins published in 2004. It provides Perkins' account of his career with engineering consulting firm Chas. T. Main in Boston. According to Perkins, his job at Main was to convince leaders of underdeveloped countries to accept substantial development loans for large construction and engineering projects that would primarily help the richest families and local elites, rather than the poor, while making sure that these projects were contracted to U.S. companies. Later these loans would give the U.S. political influence and access to natural resources for U.S. companies.[1] He characterizes his role as being an "economic hit man." Although he states that throughout his career he has always worked for private companies, and suggests a system of corporatocracy and greed, rather than a single conspiracy, he claims the involvement of the National Security Agency (NSA), with whom he had interviewed for a job before joining Main. According to the author, this interview effectively constituted an independent screening which led to his subsequent hiring as an economic hit man by Einar Greve,[2] a vice president of the firm (and alleged NSA liaison).

Content
Edit

The book heavily criticizes U.S. foreign policy and the widely accepted idea that "all economic growth benefits humankind, and that the greater the growth, the more widespread the benefits.",[3] suggesting that in many cases only a small portion of the population benefits at the expense of the rest, with the example including increasing income inequality where large U.S. companies exploit cheap labor and oil companies destroy local environment.[3] Perkins describes what he calls a system of corporatocracy and greed as the driving force behind establishing the United States as a global empire, in which he took a role as an "economic hit man" to expand its influence.

According to his book, Perkins' function was to convince the political and financial leadership of underdeveloped countries to accept enormous development loans from institutions like the World Bank and USAID. Saddled with debts they could not hope to pay, those countries were forced to acquiesce to political pressure from the United States on a variety of issues. Perkins argues in his book that developing nations were effectively neutralized politically, had their wealth gaps driven wider and economies crippled in the long run. In this capacity, Perkins recounts his meetings with some prominent individuals, including Graham Greene and Omar Torrijos. Perkins describes the role of an economic hit man as follows:

Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, the U.S. Agency for International Development (USAID), and other foreign "aid" organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet's natural resources. Their tools included fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to UpInArms (Reply #5)

Tue May 28, 2019, 07:24 PM

6. This is now on my must read list.

tnx for the recommendation - looks like a fascinating read

Reply to this post

Back to top Alert abuse Link here Permalink


Response to UpInArms (Reply #5)

Tue May 28, 2019, 08:13 PM

9. Thanks. Sounds like a must read

Reply to this post

Back to top Alert abuse Link here Permalink


Response to UpInArms (Reply #5)

Tue May 28, 2019, 11:41 PM

11. Not just foreign countries...Wall Street has been doing this to our own local governments

for decades.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to pecosbob (Reply #11)

Wed May 29, 2019, 02:14 AM

12. Reminds me of Jefferson County, Alabama

The Incredible Story Of The Jefferson County Bankruptcy -- One Of The Greatest Financial Ripoffs Of All Time

Since so many people read my post on Harrisburg (thank you), I figured that I might as well explain how Jefferson County's problems evolved. I consider this story to be old news. As with Harrisburg, however, some people mistakenly characterize Jefferson County's financial problems as a canary in the coalmine for the municipal bond market, which suggests that they still have no idea what transpired there (or how long Jefferson County has been in financial distress). Portraying Jefferson County as a typical municipal credit is akin to portraying Enron as a typical corporate credit. With Jefferson County, various financial firms - but primarily JP Morgan - exploited an existing culture of corruption and made taxpayers the victims of one of the largest frauds in the history of the financial markets.


Long read, but ... omg ... the corruption, it burns ...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to UpInArms (Reply #12)

Wed May 29, 2019, 01:05 PM

13. to read later

thx for posting

Reply to this post

Back to top Alert abuse Link here Permalink


Response to zooks (Original post)

Tue May 28, 2019, 08:42 PM

10. not in the US but EU countries should be able to do it

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread