Mark Zuckerberg owns the majority of voting shares. It's his company, over which he specifically wanted to retain control. Therefore, calling on the board to reign him in is... Misplaced.
If you think the actions of Meta are wrong and should be prevented, you need to act on the regulatory level, not appeal to the very shareholders who profit off the behaviour.
primitivesuave 27 minutes ago [-]
Rather than investigate all the things where investigative journalism could potentially make a difference to real human beings' lives, the Guardian has chosen to pursue a plea for the majority owner of Meta's voting shares (61%) to step down from his position of power. Let us politely ask Sisyphus to stop pushing the boulder instead.
bluebarbet 49 seconds ago [-]
There's no reason to think this (silly) opinion piece is sapping the work of their investigative staff. In an attention economy it might even be drawing eyeballs to it.
foul 54 minutes ago [-]
Meta should just close. It's like wanting to change CEO for the dioxin factory.
arcanemachiner 45 minutes ago [-]
Maybe they should rebrand again. It took a few renames to get the stink off of Blackwater (private military contractor).
20 minutes ago [-]
koolala 14 minutes ago [-]
Closing sale! 50%+ Off Sale on data for the majority of humans on Earth!
I very much doubt that they listen to countries in tier 1 and 2 also. If not for the fear of US's relatively stronger regulations, don't think Meta would even pay attention to any complaints in US either.
This would not change with the change in leadership in Meta simply because 18Bn is fairly affordable for Meta's scale, but they should be worried about setting the legal precedent (though they denied any wrong doing).
Other countries may not have the same ability to impose penalties owing to their weaker laws also.
flippingheck 45 minutes ago [-]
> through every scandal, Zuckerberg’s net worth has climbed to nearly $200bn, according to Forbes. Fines mean nothing to those with wealth like his, so the first step to safeguard society is to give Meta a fresh start without Zuckerberg’s influence on future products.
What is the author's model of a company?
gizajob 37 minutes ago [-]
It’s The Guardian - they just propose left-wing hyperbolic noise with no connection to the real world rather than offer any kind of solutions. Not even aware that Zuck is the biggest shareholder and has all the voting rights, it’s his baby and he owns it, he doesn’t have to resign to make the world a better place in The Guardian’s favour.
tonmoy 34 minutes ago [-]
It’s an opinion piece
graemep 27 minutes ago [-]
Read the last paragraph it calls on the shareholders to push back on Mark Zuckerberg. He owns most of the voting rights so its effectively calling on him to push back on himself.
gottheUIblues 3 minutes ago [-]
It's an article written by a guest contributor - not an editorial written as the voice of the newspaper
throw03172019 1 hours ago [-]
I’m not sure the next CEO would do any better. The social media craze is built for addiction and that’s their business model. Investors won’t be on board, sadly.
21asdffdsa12 52 minutes ago [-]
Has there ever be a social media plattform that cheered you on for Self-Improvement? DuoLingo comes to mind or some DIY project- like building a piece of furniture?
Just not rewarding flexing, but creating and world improving?
SweetSoftPillow 42 minutes ago [-]
Duolingo has nothing to do with self improvement, it's just a shiny presentation for highly addictive game.
We should reward quality of engagement, not just length of it.
watwut 8 minutes ago [-]
People love to hate Duolingo, but I actually learned things on it getting real results. And it showed me that language learning does not have to be massive suck.
All in all, it is actually one app that is beneficial or at least harmless.
ACCount37 32 minutes ago [-]
"Quality of engagement" is as hard to measure as "length of engagement" is easy.
nicce 52 minutes ago [-]
Duolingo has joined to the addiction club
sznio 57 minutes ago [-]
I think everyone is infected by doomerism.
Why care about the long term consequences if the world is going to be over in the next 20 years.
stuaxo 53 minutes ago [-]
At the billionaire level that seems to be the case.
alansaber 41 minutes ago [-]
Actually, they all seem solely interested in the future. The bunkers are a drop in the bucket for them, so why not?
gexla 8 minutes ago [-]
Interesting how the author compares the situation to smoking. Were any of the execs of the tobacco companies asked to step down because smoking was found to be harmful to health? My guess is they simply continued and adapted based on how they could remain a profitable company with continued shareholder satisfaction.
ArtTimeInvestor 36 minutes ago [-]
The CEO is the throughline in a history
of billion-dollar blunders
Since the IPO, he created an annual ROI of 21% for his investors. Taking risks means blunders are part of the way I would say.
For comparison:
He outperformed the Nasdaq 100 which made 18% (plus dividends) in the same time.
And he way outperformed Warren Buffet who made 14% in the same time.
bob1029 16 minutes ago [-]
Meta could drop a new feature tomorrow and have the tech media in a shambles within 15 minutes. Their product family is used by 3.6 billion people every day. OAI and Anthropic are still measuring per month.
mkl95 48 minutes ago [-]
Mark Zuckerberg is the PT Barnum of tech and Meta is his predatory circus. Meta doesn't make much sense without him.
dumberquestions 42 minutes ago [-]
I wonder what's the net value Meta offers for the world today. I had a similar thought about Elon the other day, for all his billions, only several million people use Tesla or Starlink, and SpaceX is cool I guess, but value and wealth don't seem to be strongly coupled. How many Tesla's investors have managed to cash out and how many of Facebook's advertisers managed to turn a profit?
ben_w 27 minutes ago [-]
Aye.
> How many Tesla's investors have managed to cash out and how many of Facebook's advertisers managed to turn a profit?
It me. That said, I didn't buy TSLA because I was expecting to cash out a few years later when he started acting like a threat to democracy and his own judicial system; when I bought it I thought they had a good business model and I thought they were undervalued.
Now they're overvalued, have lots of visible competitors eating their lunch.
Worse, even if they succeed, given Musk has yet to pay out dividends on that stock and also enough control over the board to give him as many shares as he wants, I think even success would render the stock monopoly money.
alansaber 37 minutes ago [-]
We've rediscovered the need for academia from first principles
rapsey 21 minutes ago [-]
Musk probably made more dollar millionaires than anyone in history. Facebook advertisers use it because it works and reaches a hell of a lot of people.
gdiamos 49 minutes ago [-]
we will look back on it as the big tobacco of our generation
alansaber 40 minutes ago [-]
No, that will be the gambling endemic in every aspect of our society.
gdiamos 28 minutes ago [-]
OxyContin, Enron, WorldCom, Super-size-me, Pets.com, Asbestos in the ceiling tiles...
It was always burning since the world's been turning
einpoklum 39 minutes ago [-]
> But if Meta is truly interested in prioritizing the safety of users
Why would it be interested in that? It's interested in increasing shareholder profits.
> It's time for Mark Zuckerberg to resign from Meta
What, like in the leadership of a political party? Meta does not work for the public good; if anything, it's rather the opposite. And it's not like another one of their people would change course and work and make it a public benefit company.
jstummbillig 30 minutes ago [-]
WELL THEN, if Joan Donovan thinks so.
raverbashing 33 minutes ago [-]
He's not going to
He went out of the way to make his company structure prevent that (also Elon)
faryadz 41 minutes ago [-]
We haven't see any meaningful improvement from Meta for years.
rich_sasha 40 minutes ago [-]
Eh dunno. My impression is that from the PoV of his notional bosses - Meta shareholders - he’s doing everything ”right”. Revenue up, addiction/recurring revenue stable, keeping fines low.
I’d be happy to see Meta gone altogether, but unless I missed the memo, Meta isn’t particularly upset about what it’s been up to (beyond bland press releases).
anilgulecha 54 minutes ago [-]
> put safety above profit.
I think does not reflect the reality of how competitive capitalism works.
leptons 40 seconds ago [-]
If "competitive capitalism" is how you want to frame it, then Zuckerberg should have been thrown out for essentially burning $83 billion dollars on a VR world that is never, ever going to pan out. That's going into a hole at over $400k per user. It's a disaster and any CEO of any functional company would be out on their ass, but Meta and Facebook are quite dysfunctional.
majorbugger 52 minutes ago [-]
Honestly, the world has grown past the need for Meta. I would not cry if it completely shut down, problem is, what will fill the void? It would be nice to have something not controlled by Big American Corporation (or Chinese, or any, for that matter), but somehow I don't see it happening.
XorNot 37 minutes ago [-]
Okay but like, you can make that happen. You can just stop using it.
Interestingly I did learn of a niche which is completely unserved except by Meta recently: child-locked messaging apps.
Messenger for Kids basically does everything you want it to - restricted functionality, restricted contact lists etc. I won't use it, but I only found out about it because I was hoping someone had built a Signal client which did exactly that.
herbst 47 minutes ago [-]
What void tho? The majority of people I know below 40 don't use Facebook or any related service at all.
tedggh 35 minutes ago [-]
Most people under 40, 30 and even 20 I know are on Instagram, and many under 40 and 30 are on Facebook. Maybe it varies with country, education level or some other factors.
spunker540 45 minutes ago [-]
Do they use Instagram or WhatsApp?
esskay 46 minutes ago [-]
I always find it surprising when I hear of someone younger using facebook. I associate it with retired/elderly folks who love posting cryptic messages about their health or how their day has gone wanting attention.
dmortin 39 minutes ago [-]
It's different by location. E. g. in Europe many people uses Facebook, many under 40s too.
In the US: 25–34 years: Around 25.7% to 25.9% (the largest single demographic group).
jmcgough 39 minutes ago [-]
The people you know aren't exactly representative of the whole country. Most people I know are on instagram.
majorbugger 26 minutes ago [-]
It's still used for stuff like events or groups
shreedx 40 minutes ago [-]
I think you're forgetting that Meta owns Instagram and WhatsApp.
0x70run 45 minutes ago [-]
[dead]
drstewart 48 minutes ago [-]
Or European, for that matter. Don't fancy submitting my ID to get access.
d--b 27 minutes ago [-]
Sometimes, the Guardian publishes articles like this that just serve no purpose.
Zuckerberg is never resigning from Meta. Investors don't want him to resign from Meta.
What it is time for, though, is to ask ourselves as a society if the ad-fueled privacy-infringing depression-triggering attention-grabbing social media feeds are worth it.
People used to smoke. Now they dont. Change is possible.
kingkongjaffa 38 minutes ago [-]
Absolutely idiotic take. Why is the Guardian peddling this opinion piece?
Stepping down as CEO would do nothing, so unless you plan on forcing him to sell his share IDK what the point of the article is.
> But if Meta is truly interested in prioritizing the safety of users, the board should request the resignation of Mark Zuckerberg and restructure to put safety above profit.
It is singularly idiotic that people think people, companies, boards, governments, or anyone else should be "good", and that society will progress by rooting out "evil" ones, as adjudicated by their own standards.
People and by extension companies of people and by extension corporations, NGOs, governments, and everything else in society behaves according to incentives. "Safety of users" or "approval of The Guardian employees" does not rank particularly highly in the incentive scale next to money for anybody, least of all Facebook shareholders, lol.
The factors that influence behaviors are pretty simple. Money, negative money, threat of judicial or ultrajudicial retribution, etc. The people as a whole have levers to pull in order to shape society as they would like. Wishing for good and praying for evil to be dispelled are not among them, that's just like any other superstition.
alansaber 38 minutes ago [-]
Unfortunately framing everything as incentives is the only non-emotional way to analyse these meta-behaviours (get it?).
thih9 44 minutes ago [-]
So says The Guardian, while showing me an illegal “Reject and Subscribe” tracking banner. Mixed messages.
28 minutes ago [-]
Rendered at 09:27:14 GMT+0000 (Coordinated Universal Time) with Vercel.
If you think the actions of Meta are wrong and should be prevented, you need to act on the regulatory level, not appeal to the very shareholders who profit off the behaviour.
I very much doubt that they listen to countries in tier 1 and 2 also. If not for the fear of US's relatively stronger regulations, don't think Meta would even pay attention to any complaints in US either.
This would not change with the change in leadership in Meta simply because 18Bn is fairly affordable for Meta's scale, but they should be worried about setting the legal precedent (though they denied any wrong doing).
Other countries may not have the same ability to impose penalties owing to their weaker laws also.
What is the author's model of a company?
Just not rewarding flexing, but creating and world improving?
We should reward quality of engagement, not just length of it.
All in all, it is actually one app that is beneficial or at least harmless.
Why care about the long term consequences if the world is going to be over in the next 20 years.
For comparison:
He outperformed the Nasdaq 100 which made 18% (plus dividends) in the same time.
And he way outperformed Warren Buffet who made 14% in the same time.
> How many Tesla's investors have managed to cash out and how many of Facebook's advertisers managed to turn a profit?
It me. That said, I didn't buy TSLA because I was expecting to cash out a few years later when he started acting like a threat to democracy and his own judicial system; when I bought it I thought they had a good business model and I thought they were undervalued.
Now they're overvalued, have lots of visible competitors eating their lunch.
Worse, even if they succeed, given Musk has yet to pay out dividends on that stock and also enough control over the board to give him as many shares as he wants, I think even success would render the stock monopoly money.
It was always burning since the world's been turning
Why would it be interested in that? It's interested in increasing shareholder profits.
> It's time for Mark Zuckerberg to resign from Meta
What, like in the leadership of a political party? Meta does not work for the public good; if anything, it's rather the opposite. And it's not like another one of their people would change course and work and make it a public benefit company.
He went out of the way to make his company structure prevent that (also Elon)
I’d be happy to see Meta gone altogether, but unless I missed the memo, Meta isn’t particularly upset about what it’s been up to (beyond bland press releases).
I think does not reflect the reality of how competitive capitalism works.
Interestingly I did learn of a niche which is completely unserved except by Meta recently: child-locked messaging apps.
Messenger for Kids basically does everything you want it to - restricted functionality, restricted contact lists etc. I won't use it, but I only found out about it because I was hoping someone had built a Signal client which did exactly that.
In the US: 25–34 years: Around 25.7% to 25.9% (the largest single demographic group).
Zuckerberg is never resigning from Meta. Investors don't want him to resign from Meta.
What it is time for, though, is to ask ourselves as a society if the ad-fueled privacy-infringing depression-triggering attention-grabbing social media feeds are worth it.
People used to smoke. Now they dont. Change is possible.
Stepping down as CEO would do nothing, so unless you plan on forcing him to sell his share IDK what the point of the article is.
Mark Zuckerberg (13.68% equity; 61.2% voting)[1]
[1] https://en.wikipedia.org/wiki/Meta_Platforms
It is singularly idiotic that people think people, companies, boards, governments, or anyone else should be "good", and that society will progress by rooting out "evil" ones, as adjudicated by their own standards.
People and by extension companies of people and by extension corporations, NGOs, governments, and everything else in society behaves according to incentives. "Safety of users" or "approval of The Guardian employees" does not rank particularly highly in the incentive scale next to money for anybody, least of all Facebook shareholders, lol.
The factors that influence behaviors are pretty simple. Money, negative money, threat of judicial or ultrajudicial retribution, etc. The people as a whole have levers to pull in order to shape society as they would like. Wishing for good and praying for evil to be dispelled are not among them, that's just like any other superstition.