Zucked by Roger McNamee review – Facebook’s catastrophe

An important investor explains how his enthusiasm has turned to shame

As the so-called Techlash gains pace and polemics on the downsides of the internet flood the book market, one omission seems to recur time and again. Facebook, Google, Amazon and the rest are too often written about as if their arrival in our lives started a new phase of history, rather than as corporations that have prospered thanks to an economic and cultural environment established in the days when platforms were things used by trains. To truly understand the revolutions in politics, culture and human behaviour these giants have accelerated, you need to start not some time in the last 15 or so years, but in the 1980s.

Early in that decade, the first arrival of digital technology in everyday life was marked by the brief microcomputer boom, which was followed by the marketing of more powerful personal computers. Meanwhile, Margaret Thatcher and Ronald Reagan were embedding the idea that government should keep its interference in industry and the economy to a minimum. In the US, a new way of thinking replaced the bipartisan belief that monopolies should always be resisted: concentrations of economic power were not a problem as long as they led to lower prices for consumers. And at the same time as old-school class politics was overshadowed, the lingering influence of the 60s counterculture gave the wealthy a new means of smoothing over their power and privilege: talking in vague terms about healing the world, and enthusiastically participating in acts of spectacular philanthropy.

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from Books | The Guardian http://bit.ly/2GfgWQx

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