The Anti-Social Network

  • Aired:  01/06/11
  •  | Views: 187,964

Mark Zuckerberg's immense success is founded on mining personal data, but he doesn't want to be transparent. (3:49)

>> Jon: WELCOME BACK.

EVERYBODY HERE WE'RE ALL VERY

FAMILIAR WITH FACEBOOK.

IT'S A WEB SITE THE KIDS USE TO

COORDINATE WHICH MALT SHOP TO

MEET UP AT THEIR SOCK HOP.

I'M OLD!

[LAUGHTER]

AND, OF COURSE, THOSE KIDS

PARENTS USE IT TO STAY UP ALL

NIGHT LOOKING AT WHAT THEIR HIGH

SCHOOL GIRLFRIENDS ARE UP TO

CREATING HEART FELT FRIEND

REQUEST MESSAGES ONLY TO DELETE

THEM UNSENT.

LIFE IS HARD.

FACEBOOK HAS REACHED A STAGE.

THE OBVIOUS MOVE IS PUBLIC.

>> MARK ZUCKERBERG THE FOUNDER

SAID DON'T HOLD YOUR BREATHE

BECAUSE THERE'S A LOT OF

TRANSPARENCY ONCE YOU GO PUBLIC

AND HAVE SHAREHOLDERS TO ANSWER

TO YOU HAVE TO BE MORE

TRANSPARENT.

IT'S SOMETHING MR. ZUCKERBERG

DOESN'T WANT TO DO.

>> Jon: WHAT THE (bleep).

THAT MEANS I HAVE TO UPDATE MY

FACEBOOK STATUS TO I'M PERPLEXED

SEE THAT'S --

[LAUGHTER]

HE DOESN'T WANT TO BE

TRANSPARENT.

THE GUY WHOSE IMMENSE SUCCESS IS

FOUNDED ON MINING OUR PERSONAL

DATA.

THE GUY WHO SHARES MY PHOTOS

UNLESS I CHANGE MY PRIVACY EVERY

HALF HOUR.

I HAVE TO CHANGE MY STATUS TO

FRUSTRATED AND I'LL UNDERSCORE

THAT WITH A KITTEN CLIP ART

STUCK IN A KLEENEX BOX.

NOTHING SAYS -- THIS WORKS

AMAZINGLY EVEN WHEN YOUR

COMPUTER ISN'T ON.

MAYBE HE HAS FORGOTTEN WHAT HE

IS HE AT NERD FEST 2008.

>> AS MORE AND MORE INFORMATION

IS SHARED THERE'S A CLEAR TREND

TOWARDS THAT.

I VIEW IT AS A PART OF

FACEBOOK'S ROLE IN THIS

ECOSYSTEM TO CONTINUE PUSHING

THAT.

MAKING IT SO MORE PEOPLE ARE

SHARING INFORMATION.

IF WE'RE NOT ON THE EDGE AFTER

THIS PUSHING THAT OUT THEN I

DON'T THINK WE'RE DOING OUR JOB.

>> Jon: WE WILL NOT REST UNTIL

EVERYONE IS WALK ASH NAKED

HOLDING A PASSPORT SHOUTING OUT

THEIR CHILDREN'S NAMES AND

LOCATION BUT DON'T LOOK AT OUR

FINANCIAL BOOKS.

I'VE GOT NEWS FOR YOU FACEBOOK.

THE S.E.C. HAS STRICT RULES

ABOUT DISCLOSURE.

GOOD LUCK GETTING AROUND THAT.

>> FACEBOOK IS TAKING A PUBLIC

INVESTMENT $500 MILLION U.S.

DOLLARS $450 MILLION COMING FROM

GOLDMAN SACHS.

>> Jon: GOLDMAN!

AS WELL AS SAVES.

[LAUGHTER]

WHEN IT COMES TO WEASELING

AROUND FINANCIAL REGULATIONS

THEY ARE THE MASTERS.

WHAT DID THESE (bleep) DO NOW?

>> THE INVESTMENT BANK WILL

CREATE A SPECIAL PURPOSE VEHICLE

THAT ALLOWS OTHERS TO INVEST IN

FACEBOOK INCORRECTRY.

IT HELPS FACEBOOK BYPASS AN

S.E.C. REGULATION REQUIRING

COMPANIES WITH MORE THAN 499

INVESTORS TO DISCLOSE THEIR

FINANCIAL RESULTS TO THE PUBLIC.

>> REPRESENTING AS ONE INVESTOR

WHEN IT MIGHT BE REPRESENTING

THOUSANDS.

>> Jon: GOLDMAN, IS THERE ANY

REGULATIONS INTENT YOU CAN'T

SUBVERT.

EXCUSE ME, I'M UNFRIENDING

GOLDMAN SACHS.

IS THAT THE TERMINOLOGY?

I DON'T KNOW.

ALL OF THIS IS MAKING ME WONDER

WHAT FACEBOOK IS TRYING TO HIDE.

MAYBE I'LL TYPE IN I WONDER WHAT

FACEBOOK IS TRYING TRYING TO HIDE.

WHY WOULD THERE PRIVATE SNAPSHOT

BE ANY MORE DAMAGING THAN OF US.

IT'S A MONEY FIGHT THEY ARE

HAVING.

A CASH BOND FIRE AND THAT IS

SOMEONE (bleep) A PILE OF

MONEY.

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