Wednesday , May 25 2022

Facebook's Top-Invested-Crited Investors Want Tech Regulatory Candidates – Adweek



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An early investment criticism and now a major criticism – from Facebook about making regulation of equine technology is a central issue for the 2020 presidential race.

Roger McNamee, critic and ex-mentor for Facebook CEO Mark Zuckerberg, in South West Wales said he had been advising several Democratic presidential nominees on how to regulate the technology industry. That includes foreheads like US Parliament Elizabeth Warren, D-Mass., Who introduced his own initiative on Friday to regulate companies such as Facebook, Google and Apple. He called for Warren to be "great," adding that he had also spoken to other candidates' staff, including the U.S. Parliament Amy Klobuchar, D-Minn., In addition to the US Senate Cory Booker, D-N.J.

However, McNamee does not keep his advice to democrats only. In fact, he also talked to members of Trump's justice and commercial divisions.

"Here's what's cool about it: not a right issue to the left," said McNamee. "There is a wrong issue against an incorrect step. I do not want to live in a totalitarian country, and I think that that should apply to corporations as well as government."

McNamee took a similar scheme to Warren for the regulation of technology to the actions of former president of Teddy Roosevelt against the oil industry in the early 1900's. He said companies like Facebook might be illegal, possibly sharing WhatsApp and Instagram that belong to Facebook from the parent company, and also suggestions that YouTube's Google would be better at it alone.

Facebook has made a number of changes over the last year to how users allow to manage their data online. Zuckerberg published a new set of plans for how it will encrypt messages in the future last week. However, McNamee said that the company has not yet done enough to solve its problems, and said that it is astonishing if the latest changes are going on incredibly to go to action operated by the Federal Trade Commission.

"The sad thing about this is that Facebook has acted historically like those who were right to apologize and come back to do what you were doing in the future," said McNamee. "But that game scheme does not work as well as it has been for the first 15 years of the company."

Data privacy issues have been one of several themes so far this weekend during SXSW 2019, with many Democratic leaders coming to the festival to talk about how they would like to go to regulation and other issues. On Saturday, Warren himself was here in Austin to talk about his offer, while the US Representative, Alexandria Ocasio-Cortez, said that workers should also prepare for other technology-led changes, such as automation & 39; r workforce.

However, Facebook and Google are not just the ones that McNamee took. He said Facebook was "clustered enough to be caught" with the abuse of consumer data, but said that others like Amazon and Microsoft did not have their own problems.

According to newly legislated laws such as the European General Data Protection Regulation or the Consumer Protection Act of California, he said GDPR was too difficult for everyone, while the California bill is "too narrow." He said that most important law is currently being considered in California is one that would allow consumers to prosecute when companies mislead or collect their data inaccurate.

McNamee said Facebook had been a "net negative" for society, adding that company leaders still had the chance to change. It was asked whether Zuckerberg should step down as the CEO of Facebook as some suggested, says McNamee who does not believe that that is the answer.

"I do not think this is about the people," he said. "It's about a business model".

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