Name: Facebook Needs Your Trust Almost As Much As It Needs Your Data
Uploaded: 2019-03-14
Duration: 5 min 52 s
Description: Mark Zuckerberg wants to talk about how Facebook is changing.

We really wanted to look at what Facebook is doing to address some of its recent issues, but not only through the lens of the Cambridge Analytica scandal and some of the other problems that it's currently dealing with like bad content that's proliferated on the platform. We really wanted to look at it as a business story, and that really has to do With its core product, its ability or inability to keep innovating, and we went in and met with both Mark Zuckerberg, Sheryl Sandberg and other people on the executive team at the company, and got a glimpse of the different ways that they are trying to turn their attention into sort of reprioritize Around current needs. The big shift is moving from a reactive model of how we're handling this stuff, where people in our community flag something when they see it, to one where we are just building systems to get ahead. The resource shift is real. Mm- hm. You want to know what a company cares about, look where it spends its money in the Where the people spend their time. And, some of the stuff, look, we didn't have any team on fake news four years ago. I'm not sure people were as aware of it, I don't think any company had a team on it, so some of that is very brand new. When we were just getting started [ INAUDIBLE ], you couldn't have done a lot of the stuff that we do now. We couldn't have had 30, 000. And people or any thousands of people proactively reviewing content to the AI to be able to find things that could be potentially harmful just really didn't exist back then. I wish we'd done it a couple of years sooner. But I think a lot of this stuff really we can do now. And it's just about making sure that we invest in all of these things. They didn't used to have these kind of people on staff. Definitely not in these numbers. And so There are tangible changes that they've made. So if you ask Facebook what its problems are, they will very likely point you to the bad content. It's bad actors doing bad things with our platform. It's not that it's easy to solve but it is. Fixable to a degree, there are ways you can approach it, there are ways you can talk about it, it is easy to understand. And more importantly, it doesn't end up significant impacting their ability to make money. Because it doesn't erode their business model which is making money from ads. Facebook is in the business of Profiting off of user data. They don't sell user data to marketers, they profit off of it though. And Facebook has several options but non of them are really good options. They can change their business model, that's not a good option. [ LAUGH ] You fear making $ 56 billion a year from You know 90 % of their revenue comes from advertising, You're not gonna change that, They can show more transparency and give users more controls, How much transparency do you provide? and how do you do it? Because these are not easy issues to explain, A lot of the world doesn't care a lot of users Aren't interested, but more and more users are interested, advocacy groups are interested, and regulators [ LAUGH ] are very interested. So I really am a big believer in our business model. Our business model enables us to provide a product that's totally free to the world, and I think that's really important. But [ UNKNOWN ] any cost. We do relevant advertising wall protecting people's information we really do now one of the problems is the business model is we've done a terrible job explaining it and people don't understand it, when you don't understand something you know you can be very uncomfortable. So I think the best majority of people would have a supported. Product that they can use for free than one that they would have to pay for. They point to how they allocate their time. They point to how they allocate their resources and how the company is choosing to spend its money. And so it's increased investments in safety and security and bringing on. More and more content moderators, also building out AI technology that helps to kinda sift through some of the bad content and flag it for the content moderators. A company's leadership teams attention is a finite resource and so Where they choose to allocate it. There are always gonna be trade offs. I think we were caught off guard by a lot of this. And so I think we came across as if we were not ahead of it. Mm- hm. Because I think we were not. And now I think we anticipate more problems. So if it feels like we are more aware that there are problems and less surprised by them. I think that is genuinely true. And that's on us for knowing that before. You know when people criticize the company, the criticism itself doesn't bother me. It's that if they're right, and we miss something that we should've been on top of, that bothers me, right? Because fundamentally, we should be on top of this. I mean it's our job to do this. And I think we've started turning a corner on some of the As I've said, and I've made a lot of progress there but certainly there's a long road map ahead for the next few years as well. Facebook has lost a lot of trust and I think you lose trust quickly and it takes a long time to regain it. So they are working very, very hard towards regaining that trust. And, to be fair, Facebook is not the only company that's Dealing with this. This is an issue that anybody who profits off of user data has today, and it's going to become a bigger and bigger issue because of the regulatory crackdowns. Those are unavoidable. You can change the narrative, But the regulations aren't going away. [ MUSIC ]

Facebook Needs Your Trust Almost As Much As It Needs Your Data

Tech

Mark Zuckerberg wants to talk about how Facebook is changing.