The Economics That Define Social Media
It is alleged that social media fuels polarization, exploits human weaknesses and insecurities, and creates echo chambers where everyone gets their own slice of reality, eroding the public sphere and the understanding of common facts. And, worse still, this is all done intentionally in a relentless pursuit of profit.
Nick Clegg • You and the Algorithm: It Takes Two to Tango | by Nick Clegg | Mar, 2021 | Medium
“The villain here is not necessarily the internet, or even the idea of social media,” she writes. “It is the invasive logic of commercial social media, and its financial incentive to keep us in a profitable state of anxiety, envy, and distraction.” The business model of platforms like this — which rely on advertising and clicks and “engagement”
... See moreJenny Odell • How to quit Facebook without quitting Facebook
In a 2017 interview, Ev Williams (the founder of Twitter), said something that has stuck with me since: “the trouble with algorithms, is that it rewards extremes. Say you’re driving down the road and see a car crash. Of course you look. Everyone looks. The internet interprets behavior like this to mean everyone is asking for car crashes, so it... See more