If it wants to stay this big and unregulated, Facebook cannot afford to upset the rulers of countries where it operates, no matter how abhorrent their actions. We saw that in Myanmar, where military personnel used Facebook to help incite the Rohingya massacres. Now we see it in the US, where Facebook refuses to run afoul of a president who just called in troops to tear gas citizens.
Wealth does not equal wisdom, but it does equal power.
—The Economist in ‘The flaws of finance‘
Facebook’s advertising, though, doesn’t just run against journalism and other professionally produced content: it runs against baby pictures, small businesses, cooking videos and everything in between. Facebook may be everything to the media, but the media is one of many types of content on Facebook.
Stratechery Daily Update 2017-01-12, January 23, 2017 at 12:33PM