Eerily Prescient Musings on Social Media

This was written in 2008:

“At the time of writing Facebook claims 59 million active users, including 7 million in the UK, Facebook’s third-biggest customer after the US and Canada. That’s 59 million suckers, all of whom have volunteered their ID card information and consumer preferences to an American business they know nothing about. Right now, 2 million new people join each week. At the present rate of growth, Facebook will have more than 200 million active users by this time next year. And I would predict that, if anything, its rate of growth will accelerate over the coming months. As its spokesman Chris Hughes says: “It’s embedded itself to an extent where it’s hard to get rid of.”

“Thiel’s philosophical mentor is one RenĂ© Girard of Stanford University, proponent of a theory of human behaviour called mimetic desire. Girard reckons that people are essentially sheep-like and will copy one another without much reflection. The theory would also seem to be proved correct in the case of Thiel’s virtual worlds: the desired object is irrelevant; all you need to know is that human beings will tend to move in flocks. Hence financial bubbles. Hence the enormous popularity of Facebook.”

“The internet is immensely appealing to neocons such as Thiel because it promises a certain sort of freedom in human relations and in business, freedom from pesky national laws, national boundaries and suchlike. The internet opens up a world of free trade and laissez-faire expansion. Thiel also seems to approve of offshore tax havens, and claims that 40% of the world’s wealth resides in places such as Vanuatu, the Cayman Islands, Monaco and Barbados. I think it’s fair to say that Thiel, like Rupert Murdoch, is against tax. He also likes the globalisation of digital culture because it makes the banking overlords hard to attack: “You can’t have a workers’ revolution to take over a bank if the bank is in Vanuatu,” he says.”

Read the rest here:

http://www.theguardian.com/technology/2008/jan/14/facebook

And then read this:

http://www.theguardian.com/technology/2015/sep/09/what-should-we-demand-of-facebooks-new-digital-assistant

And this:

http://finance.yahoo.com/news/social-media-credit-scores-145016363.html

And this:

http://www.theregister.co.uk/2015/09/07/facebook_biometrics_class_action_suit/

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