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“Facebook has announced a plan to launch a new cryptocurrency named the Libra, adding another layer to its efforts to dominate global communications and business. Backed by huge finance and technology companies including Visa, Spotify, eBay, PayPal and Uber – plus a ready-made user base of 2 billion people around the world – Facebook is positioned to pressure countries and central banks to cooperate with its reinvention of the global financial system.
In my view as a social media researcher and educator, Facebook CEO Mark Zuckerberg is clearly seeking to give his company even more political power on a global scale, despite the potential dangers to society at large. In a sense, he is declaring that he wants Facebook to become a virtual nation, populated by users, powered by a self-contained economy, and headed by a CEO – Zuckerberg himself – who is not even accountable to his shareholders.
Facebook hasn’t behaved responsibly in the past, and is still wrestling with significant public concerns – and investigations – about its privacy practices, information accuracy and targeted advertising. Therefore, it’s important to see through the hype. People must consider who is reshaping the world, and whether they are doing it in the best interests of humankind – or whether they are just seeking to benefit the new class of elite technology executives.”
JJ Editor's Picks
"During the debate on Prime Minister Boris Johnson’s new Brexit deal in the United Kingdom’s Parliament on Saturday—which ended, as these things often have, with a vote calling for another delay—Johnson exposed the most basic blindness of Brexit..."
"Mick Mulvaney, the acting White House chief of staff, wants to change his story about Ukraine. On Thursday, at a press briefing, Mulvaney confirmed that when President Donald Trump suspended military aid to Ukraine in July, one reason was that..."
"I travelled with Bedouin in the Western Desert of Egypt. When we got a puncture, they used tape and an old inner tube to suck air from three tyres to inflate a fourth. It was the cook who suggested the idea; maybe he was used to making food..."
"The ultrasound technician places the wand on my daughter’s lower abdomen and moves it slowly across taut skin glistening with gel. I’ve been holding my breath since being ushered into the dimly lit cubicle to witness a sonogram that will..."
"Even many Democrats are criticizing Senator Elizabeth Warren for refusing to admit, in plain words, that her Medicare for All plan will require taxes to increase. They’re right to complain. The point could hardly be simpler: All presidential..."
"How do you update Watchmen for 2019? That might sound like a question with an obvious answer: You just do Watchmen. After all, the graphic novel, which has been consistently in print since its 12-volume run ended in 1987, is pretty terrific..."
"The climactic face-off of the 2019 Israeli Apartheid Week at the University of the Witwatersrand in Johannesburg took place on a wide, sunny plaza, between a statue dedicated to the millions of anonymous miners who had toiled under inhuman..."
"Mark Zuckerberg has rarely been so compelling. Facing increased scrutiny — especially after leaked audio of an internal meeting in which Zuckerberg called Sen. Elizabeth Warren (D-Mass.) an existential threat — the Facebook CEO outlined his..."