Facebook implements livestream restrictions, some say it's not enough

Channel: Fox Business
Published: 05/15/2019

Description
Elevation Partners co-founder, Roger McNamee, who mentored Mark Zuckerberg, on Facebook’s move to restrict livestreams for users that break the rules. FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wa...



Transcript
[ music ] welcome back facebook is tightening its live-streaming rules. The social media giant announcing a one strike policy valid to temporarily restrict users who break company guidelines. This move is in response to the live streaming of the christchurch massacre in new zealand joined me right now is elev partners co-founder managing director and author of sucked waking up to the facebook cata ...
trophe. Rodger mcnamee a longtime, an early investor in facebook, who's become over the last years. You know two years much more active and cautious on this company great to see you roger murray. It'S always great to see you. Thank you so much for joining us. So what about this tightening of the rules at facebook isthis enough? Does this address your concerns? It does not what i love and i really i really support mark in his engagement in the issues. He really does understand. There'S no place to hide any longer, but they're doing classic public relations of conceding things that don't matter that won't actually change the outcome to try to protect the business model. That'S really what is at the heart of the problem? Well, what are they gon na? Do? I mean how do you that is the business model is no, i mean the business model is dependent getting people's engagement and by promoting the stuff people engage with you're. Naturally, gon na be promoting hate speech.

You'Re gon na promote disinformation, you'regonna promote conspiracy theories and they make a lot of money because of promoting that stuff. So what they want to do is find a way to make the pr problem go away without actually having to get rid of the content that causes the problem in the first place, and in this case you know the notion that people are gon na be able To police this and get it down before any harm is done is ridiculous. You have to find a way to take away the incentive. It'S all about you know, status is what people are looking for, and so these extremists, these terrorists, are looking to use facebook to get status by promoting their their actof terror online. So it's the fact that you can do it. That is the problem. Yeah i mean the bigger issue. I guess is this company has an enormous amount of power more so than a lot of people understood same with google. This is why chris used, one of the founders of the company, writes a piece in the new york times last week that got a lot of play. A lot of conversation about it that it's time to break up facebook well, chris, makes it apps the essential point about the power situation, because facebook and google are not elected, and yet they have more impact on our democracy than anything has ever had in thepast. They have more impact on our public health, on our privacy and, frankly, on the economy, and the core issue here is: what are the best ways to handle that, and i want to use antitrust to in order to create opportunity for competitive models to happen. I want to get back to entrepreneurship, you know you and i have known each other a long time back for the days when silicon valley was about small companies, doing amazing new things, and now we're totally depend on these monopolies.

But the other thing you have to do is go after that business. Well, we have to get these companies out of the world of they're, basically using surveillance, andpurchasing data and trading data to get to know everything about us. They make these digital voodoo dolls of each and every one of us. We have no idea how much data they have. We have no idea what they're doing with it and we are so dependent on these products without realizing that they're manipulating our behavior, and that has to stop it's just it's, not american. It'S that's kind of the chinese way of doing things, and i just don't want to see us going down that path. What have you heard back? You know in response to your criticism from the company, you wrote a whole book about it sucked. Well, i've been getting an incredible playsince i published it. I give mark a lot of credit because he is engaging in the conversation, but he's got really good pr handlers who were saying to a mark make this little concession here. It'Ll go away, make that little concession there it'll go away, and fortunately the flow of news have been so intense that people have not been satisfied with the little moves that they've made, but, unlike google at least they're in the conversation yeah. That'S who bills trying to pretend hey? None of this has anything to do, which is complete nonsense, yeah, and so i look at this as, as you know, in in their shoes, probably a lot of ceos would handleit the same way, they're doing it, but i want them to sit there and realize they Succeeded beyond their wildest dreams. This is an opportunity for mark to be the hero of his own story and just to be clear, even though you have been sort of cautious and negative and and and speaking out about the issues around the company, you really haven't sold much stock.

I mean well the critical thing from yeah the critical thing i continue have a it's continue to be by far my large position and the key thing is. I don't think this is about the people. I am not critical of mark i'm not critical of cheryl or of leary's it'sabout. The business ball is about the culture, and it's about this notion that somehow they're entitled to essentially convert everybody's human experience into data and then use that to manage our lives, because we all go to them for information. What we don't realize is they're using their control of the menu to control the choices available to us. That'S not good. We talk a lot about china and how china is you know tracking its citizens. Facial technology they've got you know all this data on everybody. The closest thing to china in this country is google and then facebook and my point is they say you can't regulate us because we have to compete with china andgo. Why do we want to compete with china in behavioral manipulation? We don't? We want to apply ai and all this technology to all the things you can do to make humanity better off. What'S the fear around ai? Well, the legitimate fears are come in two different areas. One is that you train artificial intelligence with data from the real world.

So if you're not really careful, you reproduce all the problems of the real world without a human being to go and complain to. So if you sit there and think about this, we've had huge issues in in corporations for recruiting with resume applications that retain the real-world biases against women bias right in there exactlyand. My point is: you have to be really careful. It'S doable. The other problem with ai is that they're almost inscrutable it's it's an almost impossible to tell until you do something when you start at the beginning, what's going to come out at the end, and so you sit there and say well, we can get an ai to Drive a car and i'm sitting there and going hang on yeah driving cars with humans on the road is really complicated, and we cannot count on these things to get it right without an awful lot of time. I don't think we're gon na see a fully autonomous, driverless car on the road for a decade. I know anyline might be saying, i'm not buying it and i hope we don't yeah. I mean if we do it'll be very, very dangerous. Let me ask you about microsoft: the company is sounding the alarms this morning, a warning of a monster computer bug that could be used as a cyber weapon. What do you know about this and how do these problems keep popping up? Well, the issue you have with microsoft and frankly, with all the gigantic web platforms is, they are so huge and they have so much out there that inevitably, things fall through the cracks. Microsoft has been patching and upgrading windows forever, and this bug is about older versions of windows and youknow. The sad part that means government agencies and corporations that don't upgrade regularly are the ones who are going to be victimized by this.

What'S in the worst possible places, and now that everybody knows the bug is there, there is a real risk? What'S super important that anyone who has those old versions of windows upgrade immediately put the patch in place, and you know the thing with computer technology is, it is far more risky than we've allowed for and we have to budget both the expense and the energy to Keep these things current and protected. We'Ve reported them this a lot because steve ballmer came on the show and told me and confirmed to methat. 90 % of the companies in china use the microsoft operating system. 1 % pay for it. It'S it's a it's! A loss of 10 billion dollars a year from microsoft when it comes to china, ip theft. You know this is the big issue huge the president's pushing back using you know tap. I just want to point out that april retail sales. Worse than expected, it was down two-tenths of a percent. We were expecting retail sales to be up two-tenths of a percent, so this china fight is one thing that people are talking about, whether or not it's going to impact the economy. We don't know about april retail sales down two tenths of a percent forthe month. That is a worse than expected. Number and markets are down this morning.

They were already down going into it, but the big issue here, the president's using tariffs, the real elephant in the room, as you know, is ip theft, the fourth tranche of technology, and it in my mind, it's not just ip theft. The forward-looking risk is the notion that they bring their behavioral manipulation their what they call the social credit application into other countries around the world, including in the united states, and i don't think we want to allow that. So i believe that having a better reciprocal relationship with china requires holding them to a much higher standard intellectual property andrealistically, we have built our economy around buying stuff from china. We need to get back to making a lot more stuff here. We need to get back to investing in more consuming less. I don't know that the country is emotionally prepared to consume less, but if you're worried about china, that's got to be a big part of the answer. Yeah and because right now you go into a retail store. What is it like in a walmart like ninety percent of, what's there made in china, china's economy gets impacted more than the us economy from this fight it does, but we both get hurt it's. Needless again, that retail sales are down two-tenths of a percentversus, an estimate of up to 10 % ex autos. They were up 1/10 of a percent versus an estimate of up to 7 thousand percent. Not an a good number this morning on retail sales, rogers great to see you maria always a play. Thank you.



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