Former Facebook Executive has expressed his deep concerns over how the social media platforms are affecting our society. Chamath Palihapitiya who joined Facebook back in 2007 and became the Vice President of Growth is not proud of the kind of company Facebook has become. “I think we have created tools that are ripping apart the social fabric of how society works,” he told the audience while speaking at Stanford Business School.
Chamath Palihapitiya is now the founder of Social Capital, a VC firm which funds companies in the healthcare and education domain.
While speaking with the audience, he didn’t just criticise Facebook or Social Media but he made the Venture Capital firms equally responsible. He said that VCs are funding “shitty, useless, idiotic companies”
Palihapitiya mentioned how a widespread hoax message on WhatsApp led to mob lynching of 7 innocent people in India. This is the power of social media everyone is afraid of. He said that he tries to use Facebook as little as possible and his children ‘aren’t allowed to use that shit as well.’
Facebook has been under the radar ever since the Elections in UnitedStates. It was speculated that Facebook platform was used to amplify fake news which resulted in mistrust among people and in the end affected vote bank of candidates as well.
You can watch his whole talk here.