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    Kara Swisher on Silicon Valley’s lack of competition

    enJune 25, 2019

    Podcast Summary

    • Discussing the challenges of content moderation for tech companiesCEO of YouTube, Susan Wojcicki, faced criticism for her handling of content moderation questions at the Code Conference. Balancing free speech and safety remains a complex and evolving challenge for tech companies dealing with content moderation.

      Technology companies, specifically those dealing with content moderation, face complex challenges in creating effective solutions. During an interview on The Road Chasts podcast, Kara Swisher discussed the performance of Susan Wojcicki, CEO of YouTube, at the Code Conference. While Wojcicki was commended for showing up and engaging with attendees, the consensus was that she did not handle content moderation questions satisfactorily. Swisher noted that there are no easy answers to this issue, as the situation is complex and constantly evolving. An example of this complexity was highlighted when Twitter was asked to take down or block Alex Jones' content, which had been banned on YouTube. The situation highlights the ongoing challenge of effectively moderating content on these platforms while balancing free speech and safety.

    • Content moderation and antitrust regulations interconnected issues for tech giantsTech giants face challenges in content moderation at scale, acting as de facto governors of online speech, and antitrust regulations argue they function like quasi-governments, requiring thoughtful solutions

      Content moderation and antitrust regulations are interconnected issues, particularly when it comes to tech giants like Google. The discussion highlighted the challenges of content moderation at scale, with platforms like social media serving as powerful tools for spreading harmful content. The size and influence of these tech companies have made them de facto governors of online speech, a role they are not well-equipped to handle. The antitrust regulation argument stems from the fact that these companies have grown so large that they function like quasi-governments, surveilling users, making decisions about what we can buy and see, and serving as gateways to the economy for many people. The proposed solution of breaking up these companies was met with skepticism, as some argued it could unlock value and competition, while others warned it could lead to more chaos and fragmentation. Ultimately, the conversation underscored the need for thoughtful solutions to address the complex issues of content moderation and the power and influence of tech giants.

    • Tech giants' dominance hinders innovation since 2011Since 2011, tech giants like Google, Facebook, and Twitter have dominated the market, hindering innovation in areas like social networks and search engines, while raising concerns about free speech and consumer harm. Senator Josh Hawley's proposal to remove Section 230 protections for tech companies could spark regulatory changes.

      The current dominance of tech giants like Google, Facebook, and Twitter has created a challenging environment for new competitors, leading to a lack of innovation in certain areas such as social networks and search engines since 2011. Some argue that this consolidation of power also raises concerns about free speech and consumer harm. Senator Josh Hawley's recent proposal to remove Section 230 protections for tech companies if they can prove neutral moderation is an attempt to spark discussion on these issues. However, it remains to be seen how these debates will unfold and whether they will result in significant regulatory changes. Ultimately, the future of tech competition and regulation will be shaped by ongoing debates and court decisions.

    • Tech companies' leadership under scrutiny for content moderationThe debate over content moderation on tech platforms requires more resources and regulation, with tech leaders like Sundar Pichai and Susan Wojcicki under scrutiny for effective solutions.

      The responsibility of content moderation on tech platforms and the mechanism behind it remains a complex issue. Some people argue for more moderation, while others call for less, leading to a need for more hiring and resources. The debate raises questions about whether these companies can effectively solve the problem as they are currently constituted or if regulation and competition are necessary. Regulation, particularly from the FTC and FCC, could potentially encourage better behavior. Breaking up companies like Facebook and Google is a possibility, but there are complexities involved. Ultimately, the responsibility for addressing content moderation lies with the tech companies' leadership, particularly Sundar Pichai and Susan Wojcicki, who are currently at the helm. The founders, Larry Page and Sergey Brin, seem less engaged.

    • Google's YouTube: Balancing Benefits and RisksGoogle's YouTube offers valuable content but faces criticism for privacy concerns, addictive content, and toxic material. Critics propose solutions like user payment or stricter moderation to address these issues.

      Google, as a helpful company, collects user data to provide services like YouTube, which is their most useful product due to its how-to videos. However, concerns about privacy, addictive content, and the presence of toxic material on the platform persist. Google aims for a high accuracy rate in content moderation but acknowledges that it's not perfect. Critics argue that the current system, where anyone can post content, leads to problematic material. Some suggest that users should pay to use platforms or that more stringent moderation is necessary. Ultimately, the debate revolves around balancing the benefits of these services with the potential risks and challenges of maintaining a safe and private online environment.

    • The lack of gatekeepers in the digital world raises ethical concernsCEO Tim Cook advocates for greater transparency and accountability in tech companies, but many continue to profit off user data without paid versions of their platforms.

      The lack of gatekeepers in the digital world has allowed for the creation and growth of free platforms like websites, podcasts, and social media. However, this also raises ethical concerns regarding the responsibility of these companies to protect user privacy and regulate content. Tim Cook, CEO of Apple, has been vocal about these issues, advocating for greater transparency and accountability. Despite this, many tech companies have not implemented paid versions of their platforms due to the financial success they gain from collecting and utilizing user data. Cook's stance as an adult in the room, pushing for change, has made him a controversial figure in the tech industry. The issue remains complex, with companies balancing their business models with ethical responsibilities.

    • Tech executives under pressure to prioritize growth over valuesTech companies need to prioritize values over growth and take a proactive stance against harmful content to regain trust and ethical standing

      The executives of tech companies, including Susan Wojcicki of YouTube, are under immense pressure to prioritize growth and appease all users, often at the expense of clear values and ethical considerations. This pressure can lead to a lack of transparency and accountability, particularly when it comes to sensitive issues like hate speech and extremist content. The speaker believes that these companies, including Google, which was once committed to positive change, have lost their way due to the influence of money, attention, and self-righteousness. A potential solution, according to the speaker, would be for tech companies to prioritize values over growth and take a more proactive stance against harmful content, even if it means sacrificing some scale. Tim Cook of Apple is cited as an example of a leader who understands the importance of acknowledging the consequences of one's actions and being transparent about values.

    • Breaking up tech giants could lead to increased creativity and value unlockedSpeaker suggests breaking up tech giants to encourage competition and innovation, citing historical examples and the importance of protecting customer information.

      The current state of tech giants, with their vast data collection and control over supply, is a result of aggregated demand and better user interface design. However, according to the speaker, breaking up these tech companies could lead to increased creativity and value unlocked for various individuals and startups. The speaker argues that this has always been the case in the past and that it's essential to encourage competition and innovation. The speaker also mentions the challenges of dealing with toxicity and toxic waste in the tech industry, which can't be easily cleaned up, but may eventually be managed by nature. The speaker criticizes the tech industry for their victim mentality and excessive focus on data and information, while expressing frustration with the incoming they receive for pointing out issues. The speaker also highlights the perspectives of individuals from other industries who understand the problems and the importance of protecting customer information.

    • Identifying promising startups in Silicon Valley is toughDespite challenges, early-stage investment is crucial for potential breakout successes, with areas like climate change, finance, and head's up displays showing promise.

      Finding the next big startup in Silicon Valley is becoming increasingly challenging due to the dominance of large tech companies. Evan Williams, the host of this podcast, expressed his difficulty in identifying promising startups during an interview, mentioning the acquisition of Slack by Microsoft as an example. He also noted the lack of excitement around startups in the Valley, but expressed optimism about some fresh ideas he encountered in the areas of climate change, finance, and head's up displays. Despite the challenges, Williams emphasized the importance of early-stage investment and the potential for breakout successes. The podcast also highlighted the documentary "Art Beats and Lyrics" and the consumer-focused nature of the VC community, which requires startups to actually ship their products before securing investment.

    • Dominated by a Few Large Companies: Challenges for StartupsThe tech industry's focus on large companies creates challenges for new, innovative startups, necessitating a refocus on solving real-world problems and potential solutions in areas like climate change, carbon-free technologies, and societal issues.

      The tech industry is currently dominated by a few large companies, making it difficult for new, innovative startups to emerge. The excessive amount of money in the system, much of it from venture capitalists and funds like SoftBank, creates challenges in finding viable investments and opportunities for growth. The industry is experiencing a low point in terms of startup numbers, and there's a need to refocus on solving real-world problems rather than just reacting to the dominance of large companies. The future may involve a period of falling apart and rebuilding, with potential solutions in areas like climate change, carbon-free technologies, and addressing complex societal issues like immigration. The innovation and fresh ideas are crucial for the industry's growth, and there's a risk of losing talent as companies become more corporate in nature.

    • Facebook's attempt to control money supply with Libra and CalibraLack of anticipation for government and public pushback could lead to loss of trust and credibility for tech companies trying to create digital currencies.

      The innovative idea of tech companies like Facebook to create their own digital currencies and control the world's money supply may seem beneficial to them, but the lack of anticipation for the potential pushback from governments and the public could lead to serious consequences. The elitist attitude and lack of self-reflection in the tech industry were also highlighted as potential issues. Facebook's attempt to replace traditional currencies with Libra and Calibra was met with skepticism and resistance, and the industry's failure to anticipate this reaction could result in a loss of trust and credibility. The importance of understanding and addressing the concerns of governments and the public was emphasized as crucial for the success of such ventures.

    • People's trust and utility from tech companies varyAmazon and Apple are trusted for purchases and credit cards, but Facebook's data collection practices raise concerns. People may be trading privacy for convenience.

      According to Cara Swisher from Recode, people have varying levels of trust and utility they derive from different tech companies like Amazon, Google, Microsoft, Apple, and Facebook. While Amazon is loved for its convenience and utility, people are wary of Facebook's data collection practices. Amazon and Apple are trusted enough for users to make purchases and even apply for credit cards. However, the line between good and convenient is blurred, and people may be trading privacy for convenience without realizing it. Cara also mentioned her podcast series about death online and encouraged listeners to check it out. The episode discussed the implications of mourning celebrities online and featured an episode about a dying robot named Gebo. Listeners were encouraged to subscribe to The Verge House for free and leave ratings and feedback. The episode ended with a shoutout to Canva for making presentations easier and faster, and a reminder to tune in on Friday for a discussion about the weekend with Dieter and Paul.

    • AB&L's 20th Anniversary Tour: Excitement Builds for Milestone Shows with Jack DanielsThe documentary follows Jabbar and W's 20th anniversary tour, featuring massive crowds and partnership with Jack Daniels, with the tour continuing in 2024.

      The documentary "AB&L's 20th Anniversary Tour" showcases the excitement and anticipation surrounding the tour of artists Jabbar and W, as they prepare for their milestone anniversary shows, attracting massive crowds at each performance. This inspiring content is now available to stream on Hulu. It's important to remember to drink responsibly. Jack Daniels, a renowned whiskey brand, is a proud partner of this event, with their Whiskey Specialty holding a 35% alcohol by volume. Jack Daniels and Tennessee Honey are registered trademarks. Looking forward, the tour continues in 2024, with Jack Daniels retaining all rights to the brand.

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    https://bankless.cc/Toku  

    🎮IMMUTABLE | GAMING ECOSYSTEM
    https://bankless.cc/Immutable

    🛞MANTLE | MODULAR LAYER 2 NETWORK
    https://bankless.cc/Mantle 

    ------
    Topics Covered

    0:00 Intro

    3:45 MARKETS
    6:25 ETH Staking
    https://dune.com/hildobby/eth2-staking 
    8:40 Lido Withdrawals
    https://twitter.com/TrueWaveBreak/status/1660860593526431744 
    10:55 Germany Recession
    https://www.reuters.com/markets/europe/germany-enters-recession-2023-05-25/ 
    12:10 Buying vs Renting
    https://twitter.com/GRDecter/status/1661057543219675136 
    15:00 1 in 10 Americans Use Crypto
    https://twitter.com/SebVentures/status/1661063483369177108 
    Brian Armstrong - https://twitter.com/brian_armstrong/status/1661449616393666560 
    20:00 NVDA AI
    https://www.cnbc.com/2023/05/24/nvidia-nvda-earnings-report-q1-2024.html 

    25:30 Postponing Ledger Recover
    https://www.ledger.com/blog/ledger-recover-a-message-from-pascal-gauthier-chairman-ceo-at-ledger 
    28:45 DCG Missed Payment
    https://twitter.com/ramahluwalia/status/1660981239254269952 
    33:20 Tornado Cash Hack
    https://twitter.com/samczsun/status/1660012956632104960 

    37:40 Binance Commingling Funds
    https://www.reuters.com/investigates/special-report/crypto-binance-money/ 
    https://twitter.com/BanklessHQ/status/1661411951627436038 

    46:30 Apple Pay 
    STEPN - https://twitter.com/Stepnofficial/status/1660616595792601091 
    Axie - https://www.coindesk.com/web3/2023/05/17/axie-infinity-game-launches-on-apple-app-store-in-key-markets/ 
    48:45 BASE Maine
    https://twitter.com/BuildOnBase/status/1661406955158618118 
    50:10 Pudgy Penguin Toys
    https://twitter.com/pudgypenguins/status/1659325632499572736 
    52:40 Do Kwon Bail Revoked
    https://decrypt.co/142224/terra-founder-do-kwon-back-in-jail-in-montenegro-bail-revoked 
    53:00 Vitalik Restaking
    https://twitter.com/VitalikButerin/status/1660356821779988480 
    https://twitter.com/BanklessHQ/status/1660791568482320390 
    59:13 Ron DeSantis Bitcoin  
    https://www.trustnodes.com/2023/05/25/let-them-do-bitcoin-says-ron-desantis 
    1:02:30 Matcha Update
    https://twitter.com/matchaxyz/status/1661401872811565056 
    1:04:10 Connext Abstraction
    https://blog.connext.network/introducing-chain-abstraction-9b8f6e4dc31a 
    1:05:20 Astaria
    https://twitter.com/AstariaXYZ/status/1661733590923878401 

    1:05:50 Jobs
    https://pallet.xyz/list/bankless/jobs 

    1:08:20 Questions from the Nation
    https://bankless.cc/Alpha 

    1:18:30 Freedom to Innovate
    https://twitter.com/RyanSAdams/status/1661722723947610114 
    1:20:30 The Millennial Pause
    https://www.youtube.com/watch?v=WRYgLsy6kLk 
    Gen Z Shake
    https://youtube.com/shorts/SsOrbYqiHVs 

    1:24:15 What David’s Bullish On
    https://imgur.com/a/U0KHn48 
    1:27:05 What Ryan’s Bullish On
    https://twitter.com/ryanberckmans/status/1661719300770615297 

    1:29:40 MEME of the Week
    https://imgur.com/Yndq4Xd 


    ----
    Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

    Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
    https://www.bankless.com/disclosures 

    Ep. 1482 - Elon Musk Wants Free Speech, So He Must Be Racist

    Ep. 1482 - Elon Musk Wants Free Speech, So He Must Be Racist

    According to the Left, Elon Musk only wants free speech on Twitter so he can help racists; the economy slows as the White House announces the possibility of relieving student loan debt; and we examine the mystery of Joe Biden's missing millions.


    Join Third Thursday Book Club now to get my notes for The Once and Future King by T.H. White and be a part of this month’s Q&A: https://utm.io/uejl1.


    Become a Daily Wire member and watch me debunk common leftist talking points in 15 minutes or less on Debunked. Use code DEBUNKED for 20% off your membership: https://utm.io/uevEb.  

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