Former Facebook executive Chamath Palihapitiya criticises not just Facebook but Silicon Valley in general for creating "dopamine-driven feedback loops" that are destroying societies by fueling misinformation and mistrust while preventing civil discourse and co-operation.
These former employees have all spoken out at a time when worry about Facebook’s power is reaching fever pitch. In the past year, concerns about the company’s role in the US election and its capacity to amplify fake news have grown, while other reports have focused on how the social media site has been implicated in atrocities like the “ethnic cleansing” of Myanmar’s Rohingya ethnic group.
In his talk, Palihapitiya criticized not only Facebook, but Silicon Valley’s entire system of venture capital funding. He said that investors pump money into “shitty, useless, idiotic companies,” rather than addressing real problems like climate change and disease. Palihapitiya currently runs his own VC firm, Social Capital, which focuses on funding companies in sectors like healthcare and education.
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