Facebook, Destroyer of Media

So, Facebook has been fined forty million dollars for inflating video statistics.

Sounds like a yawn, eh? Not a very big fine, for a not-very-big crime.

But it was a big crime. Newspapers, web sites, etc…pivoted to video. Facebook said that views were as much as 900 percent higher than they actually were (counting, among other things, three-second views as viewership.)

So companies hired video staff, got rid of writers and pivoted.

And revenues crashed, because there wasn’t actually viewership or a way to monetize that viewership.

Virtually the entire online humor industry, for example, went under.

Facebook and Google are parasites and predators. They don’t create sweet fuck all, but they take a huge share of the revenue that would go to actual content producers. They devastate entire industries. And in this case, Facebook did it by straight-up fraud. They made billions from their lies, and paid a tiny fine.

In other words, the fine is so small, that Facebook knows they should commit fraud again in the future.

This isn’t effective law, effective regulation, or anything approaching justice.

Facebook needs to be broken up into constituent parts, and they need to be regulated. As a place to connect to friends, with a chronological timeline, Facebook provides a genuine service. As surveillance capitalism and a gateway that skims actual producers’ profits, destroying producers wholesale, it’s a catastrophe.

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