Sacks: Legacy media exaggerates social media risks due to financial disruption
David Sacks · E47: Facebook's week from hell, Ellen Pao on sexism in Elizabeth Holmes coverage, Newsom wins & more · Sep 18, 2021 · at 56:34
David Sachs, general partner at Craft Ventures, offers a second-order analysis on why traditional news outlets publicize negative research about social networks like Facebook.
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“There's a lot of people who hate social networking in the traditional legacy media because they've been disrupted Buy Facebook, buy these social media companies, and so they're looking. They took their money, and they're looking to publicize any article about the negative effects of these companies, which they're not threatened by Coca-Cola, so they're not going to publish those kinds of studies. So I just think that there's an argument that perhaps, I'm not saying you're wrong, I think there's absolutely truth in what you're saying. It's all a matter of degree, though, and perspective, and I do think that the traditional media has an incentive to blow this out of proportion a little bit.”
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