I invested in Google and Facebook years before their first revenue and profited enormously. I was an early adviser to Facebook’s team, but I am terrified by the damage being done by these Internet monopolies.
Technology has transformed our lives in countless ways, mostly for the better. Thanks to the now ubiquitous smartphone, tech touches us from the moment we wake up until we go to sleep. While the convenience of smartphones has many benefits, the unintended consequences of well-intentioned product choices have become a menace to public health and to democracy.
Facebook and Google get their revenue from advertising, the effectiveness of which depends on gaining and maintaining consumer attention. Borrowing techniques from the gambling industry, Facebook, Google and others exploit human nature, creating addictive behaviors that compel consumers to check for new messages, respond to notifications, and seek validation from technologies whose only goal is to generate profits for their owners.
Many school districts, including Madison, use Google’s tools.