Reply to post: Banksters 2.0

Facebook's inflection point: Now everyone knows this greedy mass surveillance operation for what it is

Anonymous Coward
Anonymous Coward

Banksters 2.0

Reg readers and parts of the MSM have picked up on how big tech has morphed into Banksters 2.0 (Data-Oil etc). However the problem with looking to Enron or WorldCom or any of the blow ups from that time period is, it didn't change behavior. Investors just shifted from Banksters to Big-Tech, as the colorful comedy movie: 'Fun With Dick & Jane' hints at.

So any change here must come from investors. They are the real customers of Facebook, even above advertisers. If confidence falls, if investors fear a Bitcoin like retrenchment, it might cause enough customers to withdraw their money from the bank - then the bank could fail. But overall screw the investors, they created these data monsters, and they continue to create even more everyday from IoT everything to data slurping Car firms - (CES 2018)!

Another factor that isn't mentioned much, is how the recent resurgent Anti-American sentiment could affect Facebook like firms, if it all... US tourism is definitely getting hit, it started long before Trump too. But with Trump, people in Latin America are trying to boycott American made products. What if people also shun US firms who shit all over privacy....???

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