The End of Neoliberalism May Be Dawning

The market should be trusted and knows all.

That has been sold to the people of the U.S. for decades, half a century or more now, since at least the Reagan revolution.

How has that worked out?

The middle class has been squeezed almost out of existence, the wealth gap has grown incredibly high, CEOs now make more in a day than the average employee makes in a lifetime, etc. The list goes on.

One economist writing for the Washington Post says our democracy requires a change to our economics.

captialism-economics-democracy-book/

Here is a snippet from the piece:

We’ve now had four decades of the neoliberal “experiment,” beginning with Ronald Reagan and Margaret Thatcher. The results are clear. Neoliberalism expanded the freedom of corporations and billionaires to do as they will and amass huge fortunes, but it also exacted a steep price: the well-being and freedom of the rest of society.

Interesting read. His opinion is growing massively in this country.

Happy Reading,

J.W. Gant

Facebook and Democracy 2018 Edition

The unfortunate news related to this story is I'm only going to touch on Facebook and democracy in the United States in 2018.  The reality is Facebook is having a profound impact globally and we are really only just beginning to understand the impact.

Here is a piece about what Facebook is doing to protect the looking midterm elections in the United States, just 49 days away:

Two weeks ago, on a hastily scheduled conference call with journalists, Facebook executives announced what many felt was inevitable: Someone, perhaps Russia, was once again trying to use the social network to “sow division” among U.S. voters, this time before November’s midterm elections.

The “bad actors,” as Facebook called them, created bogus events; posted about race issues, fascism, and President Donald Trump; and paid Facebook to promote their messages. “Some of the activity is consistent with what we saw from the IRA before and after the 2016 elections,” Facebook’s head of cybersecurity policy wrote in a blog post, referring to the Internet Research Agency, a Kremlin-backed online troll farm.

That activity, of course, may have altered a U.S. election, and sent Facebook and CEO Mark Zuckerberg down a path of self-reflection that has changed Facebook’s strategy, as well as its mission.

Here is a snippet from the piece:

https://www.recode.net/2018/8/17/17686252/facebook-2018-midterm-election-plan-russia

How is technology changing the human condition? How is it impacting democracy?  I've written a bit about our entry in to the Information Age and I feel a white paper coming out of it.  I'm sure I'll write more about this subject.

Happy Voting,

J.W. Gant

What Facebook's Problems Mean to You

As the Federal Trade Commission looks in to Facebook's interactions with the now widely known company Cambridge Analytica people across the U.S. and the globe are waking up to a startling revelation ...

Facebook has a ton of data about you.

Wait. That isn't news to you? Good!

Here is that story in case you are interested:

https://www.cnet.com/news/ftc-confirms-its-investigating-facebook/

Here is the next startling revelation ... ready?

Every company out there wants your data too. The only difference is Facebook got caught with its hand in the cookie jar and the company it was in business with, Cambridge Analytica, is engaged in some very dirty business. Setting up politicians so it appears they had sexual relations with Ukranian escorts. According to their CEO on video it doesn't matter if the person actually engaged in the behavior it just has to appear that way. Great business you have there, but, hey, so long as your kids get to go to expensive private schools who cares if you help destroy democracy.

Apple is reportedly interested in seeing Facebook put under the microscope for this.

Of course they are. Facebook eats Apple's lunch on personal data. Apple might gain more marketing dollars if Facebook loses out. It's a gold rush to get your data and all of the technology companies, and retailers, want in.

Where Facebook has really done is overstepping on what they gather without proper notification. Android users woke up to a shock over this when they found Facebook was gathering their phone conversations.

I have been predicting we will see a general pullback in technology due to security concerns. Privacy concern are trumping that. Regulations are next.

Is it time we the people gained a measure of control over the technology that has become central to our lives?

Giving out your personal information is a trade-off  You give something of value and receive something of value in return. I have a rewards card or my favorite supermarket. No worries. However when the data gathering is unclear or used in ways you don't agree with and without your consent you should be concerned.

Happy Reading.

J.W. Gant

**UPDATE**

I have several articles to add to this.  First up is news the U.S. immigration force, rounding up illegal entrants, is using Facebook data to track, locate, and presumably remove folks:
http://fortune.com/2018/03/27/facebook-data-ice-immigrants-deport/

Can the consumer gain from this fiasco?  Yes according to one analyst and I agree.  This is an important moment, a wake-up call, to folks who haven't followed what is happening to them digitally. Read more: https://www.cnbc.com/2018/03/27/facebook-data-scandal-should-be-a-wake-up-call-about-online-footprint.html

When an issue enters the public awareness to a level it is parodied in TV comedies you know it is a problem.  Facebook is spelled in Russian during the new opening for Season 5 of the hit HBO comedy 'Silicon Valley'. A reference to Russian trolls using Facebook data to attack the 2016 elections. See it and read more here: https://www.theverge.com/tldr/2018/3/26/17164094/silicon-valley-season-5-opening-credits-facebook-easter-egg-russian-cyrillic-letters-fake-news

More bad news for Facebook on the front page of Bloomberg's marketing pages: https://www.bloomberg.com/news/features/2018-03-27/ad-scammers-need-suckers-and-facebook-helps-find-them

What Facebook's troubles mean to marketers, that's you right? Read on:
https://econsultancy.com/blog/69902-facebook-is-in-real-trouble-what-it-could-mean-for-marketers/

I'll add more if I find worthy entries in this ongoing story.  I think we are about to see some technologies become treated as equivalent to utilities such as electricity, running water, and phone service.  How that changes the game is easy to see.  A vacuum will be created and other companies, such as Apple, will rush to fill it with their services.