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[536.76 --> 540.42] They do all these things to make it transparent what they're doing. |
[541.42 --> 542.48] It's just no one cares, though. |
[543.10 --> 543.88] No one cares. |
[545.18 --> 547.34] Like, by and large, no one cares. |
[547.76 --> 548.16] So I think... |
[548.16 --> 551.20] A surprisingly low amount of people actually care about their privacy. |
[551.50 --> 552.20] There is like... |
[552.20 --> 556.84] And I bet you an abnormally high percentage of the audience here. |
[556.90 --> 559.54] And I think an abnormally high percentage of tech people in general. |
[559.64 --> 565.58] Because I think those people actually understand better what's happening when they're putting their privacy out there. |
[566.66 --> 574.52] I think the average person sees it as like, oh, some mega corporation knows that I like thong sandals. |
[574.64 --> 575.66] Yeah, they've got nothing to hide. |
[575.78 --> 577.68] Maybe they'll sell me a few thong sandals. |
[577.68 --> 581.04] And they don't understand that like, it's going further than that. |
[581.10 --> 582.94] And your data is being picked apart further than that. |
[583.00 --> 585.14] And Facebook is selling it to people that you don't necessarily know. |
[585.18 --> 586.10] Well, they don't sell the data. |
[586.78 --> 588.80] Well, it gets given away. |
[589.32 --> 589.66] It did. |
[589.66 --> 590.06] Improperly. |
[590.22 --> 590.42] Yeah. |
[590.80 --> 591.78] Well, it still does. |
[591.94 --> 592.14] Yeah. |
[592.22 --> 593.24] It really did before. |
[593.56 --> 593.78] Yeah. |
[594.08 --> 595.24] So, I don't know. |
[595.44 --> 599.54] And like the fact that a myriad of platforms get hacked every single year. |
[599.74 --> 601.60] And people's data gets pulled out of that. |
[601.72 --> 603.28] Not saying that happened to Facebook. |
[603.50 --> 604.98] But it happens to a huge amount of people. |
[604.98 --> 608.30] You can check out, I think it's haveibeenpwned.com. |
[608.50 --> 608.72] Yeah. |
[608.92 --> 609.10] Yeah. |
[609.10 --> 610.54] That's not specifically Facebook data. |
[610.82 --> 611.02] No. |
[611.18 --> 613.54] I'm saying, I'm talking about privacy in general. |
[613.58 --> 613.86] Yeah, yeah, yeah. |
[613.86 --> 616.76] I actually said specifically, I don't think it's happened to Facebook like at all. |
[616.80 --> 617.00] Correct. |
[617.00 --> 620.44] But there has been huge companies that have had leaks like that. |
[621.30 --> 626.54] And those leaks could make your Facebook vulnerable if you're using the same password across lots of sites. |
[626.66 --> 628.82] So, what normally happens is like LinkedIn got hacked. |
[629.38 --> 633.02] So, the dark webs has your password for LinkedIn. |
[633.02 --> 639.36] That gets bought by someone else who takes that password and tries it in a bunch of other sites like your email, your bank, Facebook. |
[639.80 --> 645.76] And if you're the type of person that has the same password for everything, you might be compromised on lots of sites that never actually got hacked themselves. |
[647.08 --> 647.52] Yeah. |
[649.38 --> 655.16] And like what I was more getting to is just the idea that people don't understand how their data can spread. |
[655.16 --> 659.76] And like not just on Facebook, I mean in terms of using the internet as a whole. |
[659.94 --> 668.56] Non-tech people don't necessarily understand how like putting their data in some place or putting their credit card information in some place can result in it getting to other places. |
[670.48 --> 670.92] But... |
[670.92 --> 677.86] It kind of leads into the regulation discussion here because there's a lot of talk about regulating Facebook. |
[677.98 --> 679.94] And there's kind of three different ways that that could go. |
[680.36 --> 684.52] The first is what Facebook would probably like, which is just to self-regulate. |
[685.16 --> 687.16] And that seems more and more... |
[687.16 --> 687.94] Basically, everybody wants. |
[688.54 --> 693.16] It seems more and more that it's like maybe less likely to me anyway because... |
[693.94 --> 694.88] Like to happen? |
[695.12 --> 695.36] Yeah. |
[695.42 --> 695.62] Okay. |
[695.72 --> 696.16] Yeah, yeah, yeah. |
[696.16 --> 697.76] Because there's this awesome article. |
[697.86 --> 699.02] It's been written by Zeynep. |
[699.08 --> 699.74] What's her last name? |
[700.38 --> 702.54] She's that security researcher. |
[702.82 --> 704.90] I'm really bad with names, especially last names. |
[705.54 --> 706.16] She's awesome. |
[706.24 --> 711.48] She wrote this kind of article that blew up about like 14 years of Facebook's apology to her. |
[711.66 --> 712.16] Oh, yeah. |
[712.16 --> 713.56] Since the beginning, they've been... |
[713.56 --> 722.50] Like a lot of people gave props to Zuckerberg for kind of taking ownership of what has happened at Facebook and apologizing for it and not like deflecting or saying mistakes were made. |
[722.66 --> 725.28] But at the same time, he's been doing that for like a decade and a half. |
[725.62 --> 729.82] So at some point, it's like stop letting him screw up so much. |
[730.04 --> 730.12] Yeah. |
[730.12 --> 732.74] So option one, Facebook self-regulates. |
[733.48 --> 735.70] Option two, they regulate the entire industry. |
[736.48 --> 738.88] That would be really stifling to innovation. |
[739.12 --> 739.44] Yeah. |
[739.50 --> 739.70] Really. |
[739.76 --> 750.98] If you've ever worked at a company that was undergoing some kind of like, you know, we're going to implement compliance for HIPAA, which is like a health care security thing. |
[750.98 --> 756.34] That stuff is intense and drains company resources more than you could ever imagine unless you've actually gone through it yourself. |
[756.46 --> 756.98] It's crazy. |
[757.66 --> 758.98] And there's a ton like that. |
[759.04 --> 766.46] So if there was something like that for the social media industry, you can basically guarantee yourself that there would be no new upstarts. |
[767.66 --> 770.88] Like that's hard enough to make a new social network. |
[770.96 --> 773.76] It's hard enough given that network effects are such an important part of it. |
[773.76 --> 776.36] Like you need to have a bunch of users before it's useful to people. |
[776.48 --> 783.38] If you're going to have this other layer of compliance, you're basically solidifying Facebook's position and all incumbents positions. |
[783.96 --> 788.20] So that's, yeah, I don't think you're guaranteeing that there will be no challenges. |
[789.44 --> 796.50] But I haven't seen, even without this, I haven't seen very many successful challenges to Facebook at all anyways. |
[797.02 --> 798.32] Google Plus completely failed. |
[799.02 --> 802.54] And anyone that really tries just gets bought and consumed anyways. |
[802.54 --> 806.58] Well, that's what was funny when that one senator was like, who's your biggest competitor? |
[807.08 --> 813.92] It's like you don't understand network economies because by virtue of the way they work, there are no competitors. |
[814.18 --> 820.56] It's like it's a win or take all situation where like everyone's on this platform, therefore everyone's using this platform. |
[821.04 --> 821.96] And you can't split them. |
[822.08 --> 827.06] There could never be half the people here and half there with completely overlapping functions. |
[827.14 --> 828.02] It doesn't work that way. |
[828.02 --> 841.42] Option three for regulation would be if Facebook itself just has a like dedicated third party or agency that only regulates Facebook, like some kind of steward of the data. |
[841.42 --> 844.42] To me, that's like the most likely situation. |
[844.42 --> 849.26] But this one too enshrines Facebook's current market position. |
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