Thursday, October 21, 2021

g-f(2)589 THE BIG PICTURE OF THE DIGITAL AGE (10/21/2021), HBR, The Facebook Trap




ULTRA-condensed knowledge


"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital ageDigital Transformation, Social Networking Platforms (10/21/2021)  g-f(2)426 


Lessons learned, HBR 


    • Depending on who you ask, Facebook’s biggest problem might be almost anything.
    • Facebook exists to “connect every person in the world,” as CEO Mark Zuckerberg himself will clearly and frequently pronounce. At face value, there is nothing wrong with that goal. In fact, it is exactly the kind of strategic clarity that strategy professors would like to see from more companies.
    • We all need to reckon with the consequences of what it means to connect more people more intensely. To do that, and navigate this trap we’re in, Facebook and all the social networking platforms today (and yet to come) need a clear sense of what they will be accountable for. It’s time these companies — along with governments and users — tackle the Facebook Trap head on.


      Genioux knowledge fact condensed as an image


      References





      Extra-condensed knowledge


      Lessons learnedHBR 


      • In my course on technology strategy, we teach students that the most important driver of value creation today is network effects: My own value from using Facebook — and Instagram, Messenger, and WhatsApp — grows as other users adopt and use Facebook. By following through on its mission to connect people, Facebook facilitates a huge amount of network effects that have propelled its organic growth and reinforces its dominant position in social networking.
      • But as we are all experiencing today, that core purpose leads to myriad negative impacts on all parts of our society. That mission of connecting people is also destroying people’s lives and threatening our established institutions. Facebook faces a monumental challenge, because fixing these issues isn’t as simple as adding more moderators to watch for hate speech or changing the news feed — it will require a fundamental shift in the company’s core strategic goal. In that sense, Facebook is trapped: Network effects made the company a success and now they’re threatening to unmake it, but the company can’t just turn off the engine that makes it work. So, what can it do?


      Condensed knowledge




      Lessons learned, HBR 


      • Facebook serves as a convenient lightning rod for ire, but Facebook could disappear off of the face of the earth tomorrow and we will still face these problems again and again. The Facebook Trap is intrinsic to social networking as a whole, and reflects the consequences of digital technology facilitating a more connected world.
      • Twitter has evolved on the same path as Facebook towards using algorithms to connect people globally, imparting many of the same adverse consequences as Facebook. Snap(chat), originally reliant on connecting friends, drastically redesigned its platform to drive indirect network effects that increase the amount of time users spend watching professional content. TikTok has rapidly become a powerhouse by using its best-in-class algorithms to connect users to the most engaging content globally without having to build from a network of real-life friends.


      Some relevant characteristics of this "genioux fact"

      • Category 2: The Big Picture of the Digital Age
      • [genioux fact deduced or extracted from HBR]
      • This is a “genioux fact fast solution.”
      • Tag Opportunities those travelling at high speed on GKPath
      • Type of essential knowledge of this “genioux fact”: Essential Analyzed Knowledge (EAK).
      • Type of validity of the "genioux fact". 

        • Inherited from sources + Supported by the knowledge of one or more experts.


      References


      “genioux facts”: The online programme on MASTERING “THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)589, Fernando Machuca, October 21, 2021, blog.geniouxfacts.comgeniouxfacts.comGenioux.com Corporation.


      ABOUT THE AUTHORS


      PhD with awarded honors in computer science in France

      Fernando is the director of "genioux facts". He is the entrepreneur, researcher and professor who has a disruptive proposal in The Digital Age to improve the world and reduce poverty + ignorance + violence. A critical piece of the solution puzzle is "genioux facts"The Innovation Value of "genioux facts" is exceptional for individuals, companies and any kind of organization.




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