Mark Zuckerberg’s Ponzi Scheme

Aaron Greenspan argues that although Wall Street, Congress and the Federal Trade Commission haven’t figured it out, Mark is running a Ponzi scheme

At this point it should come as no surprise to anyone paying attention that Mark is a bad-faith actor. He has no appreciation for the rule of law, or the role of a free press, and he has a dangerous tendency to view himself as infallible. After discovering a gaping security flaw in his product that revealed bulk information about friends of friends, exactly like Cambridge Analytica, I warned Mark in writing about the way his sloppy code would inevitably lead him to cross paths with the FTC and cause massive privacy and security concerns—in April 2005. His response: problems with the “Mark Zuckerberg production” were actually someone else’s responsibility and “not worth arguing about.”

Clearly, Mark can no longer argue that his decisions as Facebook’s CEO are immaterial (though he has tried). Many have already lost their lives, whether through avoidable suicides or avoidable genocidal acts in Myanmar, due to his string of increasingly tone-deaf and spectacularly dishonest decisions. Now, fifteen years and approximately as many false apologizes after my classmate started a grand social experiment that first captivated the media, then locked it in a profitless box, and then played a major supporting role in bringing fascism to America, the general consensus is that the best way to handle Mark and his tech brethren is through the Sherman Anti-Trust Act. But the consensus is wrong, based on a mountain of misapprehensions.

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Posted byarketyp