The NFX Podcast

We believe creating something of true significance starts with seeing things others do not. NFX is a venture firm exclusively focused on pre-seed & seed stage startups.

A Proposal to Jack & Zuck: Chris Anderson (ex-WIRED) & James Currier on Regulating Social Media

E99 • Apr 12, 2021 • 47 mins

In this episode, James Currier and Chris Anderson delve into the complexities of regulating social media, discussing the role of likes, extreme content, and the potential impact of nationalization on large companies like Facebook. They also explore the challenges faced by rapidly growing firms like Robinhood and address root algorithmic causes in tech companies.

Key Points

Regulating large tech companies requires understanding their network effects and the societal impact of their algorithms, which traditional methods of governance like antitrust laws may not effectively address.
An ombudsman model, adapted from traditional media, could provide an independent, proactive oversight mechanism for tech companies, ensuring they address the societal implications of their content and algorithms.
Tech company leaders need to evolve from focusing solely on growth and profit to embracing stewardship and responsibility for the social and public implications of their platforms.

The usual Silicon Valley response to regulation is to offer self-regulation instead — but only tech companies have the skills and speed to fix what they broke, unable to manage the influence over the public sphere they attained almost by accident.

Unless the few who know how to actually build these tech networks speak out, it won’t just be technology that suffers - it will be the entire world. Having built, funded, and analyzed “unicorn” social networks for 25 years and former Editor-in-Chief of Wired magazine, Chris Anderson and NFX Partner James Currier formulate a solution that resurrects a concept from the golden age of newspapers - the ombudsman.

The ombudsman is another important node in the network that has proven itself in the past and is still missing. Listen as Chris and James outline together why these network problems require network solutions, here on the NFX Podcast.

Speakers

Chris Anderson

Guest • 67%

James Currier

Host • 33%

Chapters

0:00	Introduction and the problem with regulating social media
7:41	The complexities of digital media interfaces and establishing a threshold for content
13:05	The role of likes and extreme content in social media platforms and potential regulation
18:27	The Chinese government's control over online content and American exceptionalism
25:00	Discussion on nationalization of large companies and the potential impact on Facebook
31:21	The argument against corporate social responsibility and examples of corporations focusing on it
35:09	The possibility of breaking up Facebook and its potential consequences
39:25	The regulatory challenges faced by rapidly growing companies like Robinhood and the transition from tearing down to building up in the tech industry
43:45	Addressing root algorithmic causes in tech companies and the potential for an ombudsman committee
46:56	Wrap-up and outro

Transcript

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