In My Humble Opinion Roger Mcnamee Transcript
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Workshop on Venture Capital and Antitrust, February 12, 2020
Venture Capital and Antitrust Transcript of Proceedings at the Public Workshop Held by the Antitrust Division of the United States Department of Justice February 12, 2020 Paul Brest Hall Stanford University 555 Salvatierra Walk Stanford, CA 94305 Table of Contents Opening Remarks ......................................................................................................................... 1 Fireside Chat with Michael Moritz: Trends in VC Investment: How did we get here? ........ 5 Antitrust for VCs: A Discussion with Stanford Law Professor Doug Melamed ................... 14 Panel 1: What explains the Kill Zones? .................................................................................... 22 Afternoon Remarks .................................................................................................................... 40 Panel 2: Monetizing data ............................................................................................................ 42 Panel 3: Investing in platform-dominated markets ................................................................. 62 Roundtable: Is there a problem and what is the solution? ..................................................... 84 Closing Remarks ......................................................................................................................... 99 Public Workshop on Venture Capital and Antitrust, February 12, 2020 Opening Remarks • Makan Delrahim, Assistant Attorney General for Antitrust, Antitrust Division, U.S. Department of Justice MAKAN -
Roger Mcnamee, Zucked: Waking up to the Facebook Catastrophe, New York, NY: Penguin Press, 2019, 352 Pp., $28 (Hardcover)
International Journal of Communication 13(2019), Book Review 4169–4172 1932–8036/2019BKR0009 Roger McNamee, Zucked: Waking Up to the Facebook Catastrophe, New York, NY: Penguin Press, 2019, 352 pp., $28 (hardcover). Reviewed by Heidi E. Huntington West Texas A&M University, USA In 2016, Roger McNamee, a longtime tech insider and venture capitalist, began to notice something unusual happening on Facebook. He observed a rise in viral images and other fear- and anger-based content coming from political-oriented Facebook groups. His hunch was that “bad actors were exploiting Facebook’s architecture and business model to inflict harm on innocent people” (p. 5). As a onetime mentor to Facebook founder and CEO Mark Zuckerberg, McNamee felt he had to do something. Shortly before the 2016 U.S. election, McNamee reached out to Zuckerberg (whom he had advised not to sell Facebook back in 2006) and to COO Sheryl Sandberg (whom McNamee had suggested for the job) to alert them to his observations. Zucked: Waking Up to the Facebook Catastrophe tells the story of McNamee’s efforts to convince Facebook to change tactics regarding some key aspects of its platform to be more socially responsible, and his subsequent, unlikely journey into anti-Facebook activism when his concerns went unanswered among Facebook’s executives. A tech advocate, McNamee likens himself to Jimmy Stewart’s character in the classic 1954 film Rear Window, unwittingly drawn into taking an active role in an ongoing crisis. Zucked is part personal narrative, part doomsday prophecy, and part call to action. Its focus is also ultimately broader than a critique of Facebook alone, using McNamee’s experience with Facebook as an entry point to examine the role of big tech companies in society more generally. -
The Best Investment Advice I Ever Received
The Best Investment Advice I Ever Received The Best Investment Advice I Ever Received Priceless Wisdom from WARREN BUFFETT, JIM CRAMER, SUZE ORMAN, STEVE FORBES, and Dozens of Other Top Financial Experts Liz Claman new york boston PUBLISHER’S NOTE: This publication is designed to provide competent and reliable information regarding the subject matter covered. However, it is sold with the understanding that the author and publisher are not engaged in rendering legal, financial, or other professional advice. Laws and practices often vary from state to state and if legal or other expert assistance is required, the services of a professional should be sought. The author and publisher specifically disclaim any liability that is in- curred from the use or application of the contents of this book. Copyright of the compilation © 2006 by Liz Claman Foreword copyright © 2006 by Paul O’Neill All rights reserved. “You Two” by Richard M. Sherman and Robert B. Sherman © 1968 (Renewed) EMI UNART CATALOG INC. All rights controlled by EMI UNART CATALOG INC. (Publishing) and ALFRED PUBLISHING CO., INC. (Print). All rights reserved. Used by permission. Warner Business Books Hachette Book Group USA 1271 Avenue of the Americas New York, NY 10020 Visit our Web site at www.HachetteBookGroupUSA.com. Warner Business Books is an imprint of Warner Books, Inc. Warner Busi- ness Books is a trademark of Time Warner Inc. or an affiliated company. Used under license by Hachette Book Group USA, which is not affiliated with Time Warner Inc. First eBook Edition: October 2006 ISBN: 0-7595-6951-7 For Gabrielle and Julian What makes the battle worth the fighting? What makes the mountain worth the climb? What makes the question worth the asking? The reason worth the rhyme? Someone to strive for, do or die for, I have you Two. -
Joan Dembinski '55 Fulfills Her Dream
The Albany Academies Magazine SPRING/SUMMER 2016 Joan Dembinski ’55 Fulfills Her Dream of pursuing science, becoming a pastry chef, and giving back to students. The Albany Academies Magazine TALKING HEAD SCHOLAR 1 32 LUNCHEON SPRING/SUMMER SOUNDING OUT 2016 2 CUBA MID-WINTER 33 DINNER GIFTING TO THE 6 ALBANY ACADEMIES NEWS & MADE EASY 34 ANNOUNCEMENTS Editor: Ann Wendth, Director of Institutional Advancement Associate Editor: Alexis “Biz” Deeb ’08, Marketing and Communications 7 CAMPAIGN UPDATES FRANK O’BRIEN Associate 36 MEMORIAL HOCKEY Contributors: Tom Washington, Simon Balint ’16, Katarina Lichak ’16, Alina Keegan Daley ’06 , Dr. James FitzGerald ’57, Dr. Douglas M. North ’58, MAKING THE RIGHT GAME Caroline Hessberg Taylor ’71 8 MOVE Photography: Alexis “Biz Deeb ’08, Tom Wall, iSmile Studios, Loni Hetman, T.R. Laz Photography, Bob Neudel, EMH Photography ADMISSIONS Design: Evolving Door Design Q&A WITH JOAN 37 EVENTS CALENDAR Printing: Fort Orange Press 10 DEMBINSKI ’55 A2, The Albany Academies Magazine, is published twice a year by the COMMENCEMENT Institutional Advancement Office and sent to alumni/ae, parents, 38 grandparents, donors, friends, and other educational institutions. Comments HONORS PROJECTS are welcome and should be addressed to Director of Institutional 14 NEW BOARD Advancement, The Albany Academies, 135 Academy Road, Albany NY, 12208 or email [email protected]. A SPECIAL WELCOME 42 MEMBER Board of Trustees 15 DONNA RUGGIERO Jennifer Amstutz P’19, ’21 Dr. Hyacinth Mason P’19 A TRIBUTE TO William J. Belleville, Jr. ’89 George C. McNamee ’64 P’12, ’16 42 E. STEWART M. Christian Bender ’78 P’15, ’20 Cornelius D. -
ISBER Annual Report, 2020
2019-2020 ANNUAL REPORT Institute for Social Behavioral and Economic Research UC Santa Barbara www.isber.ucsb.edu INSTITUTE FOR SOCIAL, BEHAVIORAL, AND ECONOMIC RESEARCH (ISBER) ANNUAL REPORT July 1, 2019 – June 30, 2020 TABLE OF LINKS 1. Mission Statement 2. Overview 3. Executive Summary 4. Organizational Chart 5. ISBER Advisory Committee, Administrative, and Technical Staff 6. Statistical Summary 7. Principal Investigators 8. UCSB Postdoctoral Researchers, Graduate and Undergraduate Students 9. External Participation 10. Other Projects and Activities 11. Center Reports and Other Programs 12. Awards Administered 13. Graphs and Charts 2019-2020 Mission Statement Institute for Social Behavioral & www.isber.ucsb.edu Economic Research ISBER Mission Statement July 1, 2019 – June 30, 2020 ISBER's primary mission is to facilitate and enable social science research. This is accomplished by providing: 1) efficient pre-award through post-award grants administration, 2) proposal development assistance through consultations and a small grants program, and 3) high level research services that are most efficiently delivered through an ORU to a broad audience of faculty, researchers, and graduate students. ISBER also fosters and supports topical research communities in the form of several research centers, programs, and outreach activities housed within the unit. 2019-2020 Overview Institute for Social Behavioral & www.isber.ucsb.edu Economic Research ISBER Overview July 1, 2019 – June 30, 2020 ISBER offers significant individual services to faculty, researchers, and graduate students with proposal preparation, submission and grant administration. Services include 1) assistance with budget preparations and formatting, and ensuring proposals comply with sponsor’s and UC guidelines prior to submission; and 2) post-award administration, including the financial management, monitoring and closeout of awards and projects. -
I D E Acity Twenty 19
I D E A C I EST. 2000 EST. T Y T W E N T Y 1 9 WORDS FROM MOSES In the fall of ’97, out of the blue, I got a call from Tech was just beginning its crest into the a Richard Saul Wurman, who introduced himself as unstoppable force that it has become, and there an “information architect”, and the organizer of a were many stars both on stage (Herbie Hancock, new kind of conference that he had concocted that I think, or maybe it was Quincy Jones), and in the combined elements of technology, entertainment audience (like Nicholas Negroponte, creator of and design, and that he called “TED”. He said he’d MIT’s Media Lab, and Marvin Minsky, a father of AI), heard about this thing that I had concocted and so you can imagine that I was a bit nervous when installed at the corner of my TV building, some kind I began to talk about little old CityTV and MuchMusic, of Video Booth that sounded like it contained the and how I had put them both on a downtown street, same elements of tech, ent and design, and would visible and interactive in a new kind of wired-up I come down to Monterey to give a 20-minute venerable old building that helped bring the entire Talk about it? area around it back to life. So I did, and found myself in the spring of ’98 at Well, darn if my reel of typical Speakers Corner a small gathering of about 250/300 people, among footage didn’t turn out to be the hit of the conference. -
Defining the Future Pantheon Prepares to Reap the Rewards of Its Early Push Into Defined Contribution Pension Capital
Limited Partner Limited The institutional investor perspective on private equity, venture capital, real estate and infrastructure funds www.LimitedPartnerMag.com Q2 2016 Defining the future Pantheon prepares to reap the rewards of its early push into defined contribution pension capital Should all LPs be committing more to alternative asset classes? www.LimitedPartnerMag.com Why the power of relationships is more important than ever How turning the spotlight on transparency has shifted fees The promising gap in the US real estate investment market Plus: news and expert insight on funds, deals, regions, sectors and private equity appointments Q2 2016 Published by Connecting LPs & GPs worldwide LIMITED PARTNER PERSPECTIVES DC pensions – the holy grail for private equity? Pantheon channels $33bn of LP capital to GPs through funds of funds, co-mingled funds, secondaries and co-investments. Its business is built on delivering outperformance over 25-plus years. Now the firm is ready to pull the trigger on the vast DC market f you want to be a successful private equity investor, you need to think the Netherlands, Switzerland, the US and the UK), according to consultancy long term. Manager selection will always be the key to outperformance at Towers Watson, with DC schemes now accounting for the majority of assets Ithe investment level, but it helps if you can identify and target long-term in Australia and the US. trends. Finding and creating value is much, much easier in a growing market. DC schemes have grown 7 per cent per annum over the past decade, The biggest trend in the $25tn (that’s $25,000,000,000,000 in numbers) compared with 4.3 per cent in DB. -
B U S I N E S S C U L I N a R Y a R C H I Te C T U R E C O M P U Te R G E N E Ra L I N
B u s i n e s s C u l i n a r y A r c h i t e c t u r e C o m p u t e r G e n e r a l I n t e r e s t C h i l d r e n L i f e S c i e n c e s B i o g r a p h y A c c o u n t i n g F i n a n c e M a t h e m a t i c s H i s t o r y S e l f - I m p r o v e m e n t H e a l t h E n g i n e e r i n g G r a p h i c D e s i g n A p p l i e d S c i e n c e s P s y c h o l o g y I n t e r i o r D e s i g n B i o l o g y C h e m i s t r y WILEYe WILEY JOSSEY-BASS B O O K PFEIFFER J.K.LASSER CAPSTONE WILEY-LISS WILEY-VCH WILEY-INTERSCIENCE 7525_Kwatinetz_00fm_ad_qxd 11/3/00 1:27 PM Page i The Big Tech Score 7525_Kwatinetz_00fm_ad_qxd 11/3/00 1:27 PM Page ii 7525_Kwatinetz_00fm_ad_qxd 11/3/00 1:27 PM Page iii THE BIG TECH SCORE A Top Wall Street Analyst Reveals Ten Secrets to Investing Success MIKE KWATINETZ DANIELLE KWATINETZ WOOD John Wiley & Sons, Inc. -
The Law of Facebook
The Law of Facebook Ashutosh Bhagwat* Twenty-six years ago, Eugene Volokh published his seminal article Cheap Speech and What It Will Do, predicting many of the consequences of the then-brand-new Internet. On the whole, Volokh’s tone was optimistic. While many of his predictions have indeed come true, many would argue that his optimism was overstated. To the contrary, in recent years Internet giants generally, social media firms specifically, and Facebook and its CEO Mark Zuckerberg more specifically, have come under sharp and extensive criticism. Among other things, Facebook has been accused of violating its users’ privacy, of failing to remove content that constitutes stalking or personal harassment, of permitting domestic and foreign actors (notably Russia) to use fake accounts to manipulate American voters by disseminating false and misleading political speech, of failing to remove content that incites violence, and of excessive censorship of harmless content. Inevitably, critics of Facebook have proposed a number of regulatory solutions to Facebook’s alleged problems, ranging from regulating the firm’s use of personal data, imposing liability on Facebook for harm caused by content on its platform, treating Facebook as a utility, to even breaking up the company. Given the importance of Facebook, with over two billion users worldwide and a valuation of well over half a trillion dollars, these proposals raise serious questions. This Essay will argue that while Facebook is certainly not free of fault, many of the criticisms directed at it are overstated or confused. Furthermore, the criticisms contradict one another, because some of the solutions proposed to solve one set of problems — notably privacy — would undermine our ability to respond to other problems such as harassment, * Copyright © 2021 Ashutosh Bhagwat. -
The Separation of Platforms and Commerce
THE SEPARATION OF PLATFORMS AND COMMERCE Lina M. Khan* A handful of digital platforms mediate a growing share of online commerce and communications. By structuring access to markets, these firms function as gatekeepers for billions of dollars in economic activity. One feature dominant digital platforms share is that they have inte- grated across business lines such that they both operate a platform and market their own goods and services on it. This structure places domi- nant platforms in direct competition with some of the businesses that de- pend on them, creating a conflict of interest that platforms can exploit to further entrench their dominance, thwart competition, and stifle innovation. This Article argues that the potential hazards of integration by dominant tech platforms invite recovering structural separations. Separations regimes limit the lines of business in which a firm can engage, either by proscribing entry in certain markets or by requiring that distinct lines of business be operated through separate affiliates. Previously implemented both as a standard regulatory intervention and key antitrust remedy in network industries, structural separations have been largely abandoned. At the same time that lawmakers have weak- ened or eliminated sector-specific regulatory regimes, judicial interpre- tation of antitrust law has drastically narrowed the forms of vertical conduct and structures that register as anticompetitive. And when antitrust enforcers have targeted these forms of conduct and structures, they have applied remedies that generally (1) fail to target the under- lying source of the problem and (2) overwhelm the institutional capacities of the actors assigned to oversee them. Neglecting struc- tural remedies results in both substantive harms and institutional * Academic Fellow, Columbia Law School. -
Sin and the Hacker Ethic: the Tragedy of Techno-Utopian Ideology in Cyberspace Business Cultures
Journal of Religion and Business Ethics Volume 4 Sin in Business Article 1 October 2020 Sin and the Hacker Ethic: The Tragedy of Techno-Utopian Ideology in Cyberspace Business Cultures Bruce D. Baker Seattle Pacific University, [email protected] Follow this and additional works at: https://via.library.depaul.edu/jrbe Recommended Citation Baker, Bruce D. (2020) "Sin and the Hacker Ethic: The Tragedy of Techno-Utopian Ideology in Cyberspace Business Cultures," Journal of Religion and Business Ethics: Vol. 4 , Article 1. Available at: https://via.library.depaul.edu/jrbe/vol4/iss2/1 This Article is brought to you for free and open access by the LAS Proceedings, Projects and Publications at Via Sapientiae. It has been accepted for inclusion in Journal of Religion and Business Ethics by an authorized editor of Via Sapientiae. For more information, please contact [email protected]. Sin and the Hacker Ethic: The Tragedy of Techno-Utopian Ideology in Cyberspace Business Cultures Cover Page Footnote A preliminary draft of this paper was shared at the “Symposium on Sin in Business” at Calvin College, Grand Rapids, MI, June 17-18, 2019. This article is available in Journal of Religion and Business Ethics: https://via.library.depaul.edu/jrbe/vol4/iss2/1 Baker: Sin and the Hacker Ethic Sin and the Hacker Ethic: The Tragedy of Techno-Utopian Ideology in Cyberspace Business Cultures We are creating a world where anyone, anywhere may express his or her beliefs, no matter how singular, without fear of being coerced into silence or conformity. –John Perry Barlow, “A Declaration of the Independence of Cyberspace” The panacea was virtuality—the reinvention and redemption of society in computer code. -
UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C
Amendment No. 8 to Registration Statement on Form S-1 S-1/A 1 d287954ds1a.htm AMENDMENT NO. 8 TO REGISTRATION STATEMENT ON FORM S-1 Table of Contents As filed with the Securities and Exchange Commission on May 16, 2012 Registration No. 333-179287 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 8 to Form S-1 REGISTRATION STATEMENT Under The Securities Act of 1933 Facebook, Inc. (Exact name of Registrant as specified in its charter) Delaware 7370 20-1665019 (State or other jurisdiction of (Primary Standard Industrial (IRS Employer incorporation or organization) Classification Code Number) Identification No.) Facebook, Inc. 1601 Willow Road Menlo Park, California 94025 (650) 308-7300 (Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices) David A. Ebersman Chief Financial Officer Facebook, Inc. 1601 Willow Road Menlo Park, California 94025 (650) 308-7300 (Name, address, including zip code, and telephone number, including area code, of agent for service) Please send copies of all communications to: Gordon K. Davidson, Esq. Theodore W. Ullyot, Esq. William H. Hinman, Jr., Esq. Jeffrey R. Vetter, Esq. David W. Kling, Esq. Daniel N. Webb, Esq. James D. Evans, Esq. Michael L. Johnson, Esq. Simpson Thacher & Bartlett LLP Fenwick & West LLP Facebook, Inc. 2550 Hanover Street 801 California Street 1601 Willow Road Palo Alto, California 94304 Mountain View, California 94041 Menlo Park, California 94025 (650) 251-5000 (650) 988-8500 (650) 308-7300 Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this Registration Statement.