Facebook and the grand challenge of digital ethics

“Facebook achieved this dominance by combining social media, mobile, cloud and big data technology. Its phenomenal rise to power happened on the back of emerging technologies, not individually but together. Cloud-enabled big data and mobile helped deliver influence through social media, all made possible by the internet and the world wide web. It’s a classic example of explosive growth on the back of tech-driven innovation that taps into an unmet customer need.

‘What 2.7bn people see and interpret as truth daily will be “governed” by a single for-profit company’
– BRIAN HOPKINS

Facebook already has a bigger daily impact on the lives of some people than their government. In some respects, it has just as much influence.

Now, what 2.7bn people see and interpret as truth daily – and the approximately $40bn that firms spend in advertising each year – will be ‘governed’ by a single for-profit company. Compounding this concern, consider that Facebook, through preferred stock, is entirely controlled by one person.”

Facebook and the grand challenge of digital ethics
https://www.siliconrepublic.com/companies/facebook-media-currency-digital-ethics
via Instapaper