However, news of Meta’s impending demise would be awfully premature, as Sam reminds us.
For all our Schadenfreude at Meta losing several hundred billion (!) $$$ in market value – at present, their share price is down a cool 35% from the beginning of the year, suffering the ignominy to temporarily drop behind Nvidia on the list of largest US companies – the attention capitalist behemoths Alphabet, Amazon, and Meta now hold a share of 46% of global ad spend, as opposed to 33% pre-pandemic in figures released by the World Advertising Research Center (WARC).
And yes, that’s total as in everything, not just digital…
From our very own version of Numberwang, to utilitarianism, the precautionary principle, the Plague of Athens 430 BC, to Gartner’s latest tech trends, the SmallDataForum serves up another mixed bag of goodies and smarties.
I kick off by offering a selection of ciphers for our very own SmallDataForum Numberwang from:
“We can have democracy in this country or we can have great wealth concentrated in the hands of a few, but we cannot have both.“ So the famous US Supreme Court Justice and ‘crusader for social justice’ and breaker-upper of Gilded Age monopolies, Louis D. Brandeis is said to have said, perhaps sometimes in the early 1930s.
Today, perhaps the best-known neo-Brandeisian anti-trust advocate is Tim Wu, Columbia law professor, ‘father of net neutrality’ and author of a series of books likening today’s commercial excesses – in particular in the digital space – to the ‘Gilded Age’ of the late 19th and early 20th centuries.
Of course, it is not really an either-or debate. It’s a complex and convoluted, tangled web of interests and angles, and any claimant of simple solutions has likely got a degree from snake oil university.
The latest episode of the Small Data Forum podcast sees the founding trio of Neville, Thomas, and me striding confidently into our early 20s. Who knew that the fledgling born at an event in Covent Garden’s fashionable London in May 2016 – pre-Brexit, pre-Trump, pre-Cambridge Analytica farce – would endure to its twenty-second episode.
We start our latest offering with a look at Facebook’s latest, topical woes: a technical vulnerability leading to a breach of security for at least 50m European users last month. And probably 40m more.
Thanks to a favourite topic of the SDF Podcast, Facebook were required to report the breach to the EU within 72 hours under new GDPR rules. Playing by the book, Facebook did so, contacting the Irish Data Protection Commission.
“If a tree falls in a forest, and no one is around to hear it, does it make a sound?” A modern version of this 18th century thought experiment by the philosopher and cleric George Berkeley might read: “If the EU fines a big tech firm billions of dollars, and no one has the power to enforce it, has it actually happened?”