Is The Facebook Business Model A Problem?

I Rethink My Sanguine Attitude

Two thumbnail sketches of lengthy articles I've just read:

1) Facebook's Business Model (link)
Rather than Facebook being a way for the world to connect, this interview of an early FB investor and adviser, Roger McNamee, points out that the FB business model gathers information on its users, then sells to those who want our attention; and, because anger and other ugly emotions attract easier than calm information, disinformation is at an advantage.  Article in New York magazine, written by Benjamin Hart.

2) The Rise of Italy's Five Star Movement (link)
A new political movement championing online direct democracy, environmentalism, anti-corruption measures, and a universal basic income for the poor, and how it's a front for, at best, a now deceased manipulator, who demonstrated how social media can be misused.   Article in Wired, by Darren Loucaides

What do they have in common?  The possibility that the internet is actually more dangerous than we'd thought.

My thinking up until now has been that not only will government regulation tame social media, but that the way forward is online democracy that educates everyone as they exercise power.  Knowledge is thus spread many times faster; and with knowledge comes immunity to disinformation.

But what if the threat from bad actors (Russian hackers in 2016, for one) is too great?  I still think what I call approximate democracy is the best way forward.  But I'd also support anti-trust action against the tech giants, along with imposing strict privacy policies as default (with an opt out option) on most platforms.  This would likely force different business models on our tech friends.

And, hopefully, the Five Star movement will outgrow its behind-the-scenes wizard of Oz stage.