As the largest social media platform in the world, Facebook possesses a ton of our personal data. This isn’t shocking on its face, but more and more experts are sounding the alarm that the tech giant has become too powerful. That’s what PayPal co-founder Levchin said in a recent interview with Yahoo Finance.
“They’re certainly extremely powerful in the absolute sense,” Levchin said. “Like, yes, Facebook probably knows far more about me than I think I know about me — and that I think anybody should know about me, really because they’re an amalgamation of all my friends’ knowledge of — of me.”
Levchin also said that Facebook needs to do a better job of recognizing the human beings that its product affects, expanding its focus beyond the financial bottom line. He also predicted that the government will step in sooner rather than later to hold Facebook accountable.
“My guess is they’re going to end up facing a lot of regulatory scrutiny, because our lawmakers — and others — are pretty good at dealing with the human condition and thinking in terms of the human condition,” Levchin said.
There seems to a growing consensus among tech experts that a public reckoning could be right around the corner for Facebook. Now it’s up to our elected officials to actually follow through.
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