Rich — 2:00: “People deciding that the governors of the Facebook world weren’t taking care of it well enough such that they’re emigrating out of it is a very big deal.”
Paul — 3:05: “It’s not slow growth — it’s departures. The Pew Foundation did a study and they found that [like] 1 out of 4 humans are taking a break [from Facebook].”
Paul — 5:15: “Let’s be clear: Platform companies only have transactions and metrics in order to understand how they’re performing. They have no sense of individuals, and if the numbers are down it’s like everyone is running around on fire.”
Rich — 13:45: “You could make the case that these were just selfish people just foaming at the mouth to make money, but you could also make the case that they were just optimistic about how humans were going to be when you put 2 billion of them in a very nice place where the gestures are, ‘I like you,’ ‘I love you,’ ‘I’m crying for you,’ ‘I’m laughing at the funny thing you did,’ — it’s all optimistic. There’s no middle finger.”
Paul — 14:10: “God, save the world from rich people with good intentions.”
Rich — 14:40: “It’s the exact same narrative around Twitter. Twitter said, ‘[…]We’re going to make everybody a publisher. Everybody’s a broadcaster,’ […] and it’s a cesspool.”
Paul — 16:15: “What you’ve got is a very very serious product problem and your product is at a scale that it interferes with things like the governance of the world and the way that human beings act and behave.”
Rich — 17:40: “It’s a real investment to take care of the integrity of the platform. What they didn’t anticipate was all these other sort of dynamic things that can take hold that are much more subtle and much more insidious.”
Paul — 18:00: “As far as they can tell, they were doing everything right until they weren’t. What happened is they created systems that were unbelievably easy to game. They actually had lots of good warnings, […] and they ignored it because I think they were getting so many other messages [that were] positive.”
Rich — 22:25: “The terms in the code of conduct that are easiest are the ones they can most effectively enforce. If you are threatening violence on someone, that’s very explicit, because what they want to do is avoid the perception of subjective judgement of what’s on there.”
Paul — 23:15: “You don’t have a congress that is truly ready to create a regulatory framework in the interest of the Republic and the world right now. We just don’t have it.”
Rich — 28:30: “I think the point we’re making is that this turned out to be way bigger than a startup and that the people at the wheel — I don’t think they’re evil — I think that their mandate it to squeeze maximum value for investors and not break the law.”
Paul — 30:00: “Facebook says it serves but it doesn’t really know who its master is.”
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