It’s Time to Open the Black Box of Social Media
Scientific AmericanDec 27, 2021
The Facts
Shares in Meta, the parent company of Facebook and other social networking apps, are on the rise after the company posted its results for the 1st quarter of 2022 on Wednesday.
Meta announced a modest increase in user numbers coupled with an uptick in revenue, although its profits declined for the second straight quarter.
The Spin
Narrative A
Zuckerberg, the visionary founder of Facebook who radically changed the nature of the internet, has set his sights on the metaverse. Investors are clearly confident that Meta's Reality Labs will be a leader in the new space. This is laying the groundwork for very exciting 2030s.
Narrative B
Meta's positive results are little more than a temporary sugar high amidst a broader tech correction. The digital advertising market is saturated and consumers and regulators alike are waking up to the dangers of this model both for individuals and society.
Narrative C
It's not entirely clear what's happening. After two decades of immense profit and negligible oversight, it's high time for transparency: social media companies must start handing over their data to researchers and regulators so that we can get a better handle on the broader effects on society.
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