#Thread I had asked people to share 3 good things that they did/happened to them in #2020 on @Facebook @Twitter and @instagram. Totally more than a 1000 people replied, of different ages, different professions, different regions. The comments were full of insights for me.
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We’ve spent the last ten months building #CitizenBrowser, a project that aims to peek inside the Black Box of social media algorithms, by building a nationwide panel to share data with us. Today, we are publishing our first story from the project. /1
.@corintxt crunched the numbers and found that after Facebook flipped the switch for political ads, partisan content elbowed out reputable news outlets in our panelists’ news feeds. https://t.co/Z0kibSBeQZ /2
You can learn more in our methodology, where we describe how we did this and what steps we took to ensure that we preserved the panelists' privacy. https://t.co/UYbTXAjy5i /3
Personally, this project is the culmination of years of experiments trying to figure out how to collect data from social media platforms in a way that can lead to meaningful reporting. I’ve described a couple of highlights below 👇 /4
My first attempt was in 2016 at Propublica, when I was working with @JuliaAngwin . We were interested in seeing if there was a difference in the Ad interests FB disclosed to users in their settings and the interests they showed to marketers. /5
.@corintxt crunched the numbers and found that after Facebook flipped the switch for political ads, partisan content elbowed out reputable news outlets in our panelists’ news feeds. https://t.co/Z0kibSBeQZ /2
You can learn more in our methodology, where we describe how we did this and what steps we took to ensure that we preserved the panelists' privacy. https://t.co/UYbTXAjy5i /3
Personally, this project is the culmination of years of experiments trying to figure out how to collect data from social media platforms in a way that can lead to meaningful reporting. I’ve described a couple of highlights below 👇 /4
My first attempt was in 2016 at Propublica, when I was working with @JuliaAngwin . We were interested in seeing if there was a difference in the Ad interests FB disclosed to users in their settings and the interests they showed to marketers. /5
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.