Chamath Palihapitiya, former Facebook executive says that the social media giant is now on the crossroads as a number of regulatory bodies and legal associates express their concerns regarding their policies. Palihapitiya has worked with Facebook in various management roles between the years of 2007 and 2011. However, after his resignation, he repeatedly criticized the ‘business operations’ of his former employer.
In a recent interview with CNBC, he again repeated that social media is a bad influence on society. It’s addictive and often leads the individuals to a negative state of mind.
His comments came right after Facebook’s CEO Mark Zuckerberg was scrutinized regarding its Libra cryptocurrency project. Although Zuckerberg and his team are working on ways to rebuild the user’s trust after the Cambridge Analytica scandal, authorities are still wary about the social media giant’s policies.
Additionally, higher authorities are also conducting various investigations to assess whether Facebook is using its market dominance to stifle competition.
On the other hand, Palihapitiya is going places – where no one ever has. To space! After leaving Facebook, Palihapitiya stated the Social Capital, which is responsible for raising and investing venture funds in various startups of that time - including Slack and Box.
On Monday, Palihapitiya completed the merger of his special purpose acquisition company with Virgin Galactic, and saw space tourism stock skyrocketing in its New York Stock Exchange debut.
He also owns a minority of shares in NBA’s Golden State Warriors, where he is also serving as a board member.
Photo: BLOOMBERG/GETTY IMAGES
Read next: How Tech Companies Are Profiting from The Personal Information of User
In a recent interview with CNBC, he again repeated that social media is a bad influence on society. It’s addictive and often leads the individuals to a negative state of mind.
His comments came right after Facebook’s CEO Mark Zuckerberg was scrutinized regarding its Libra cryptocurrency project. Although Zuckerberg and his team are working on ways to rebuild the user’s trust after the Cambridge Analytica scandal, authorities are still wary about the social media giant’s policies.
Additionally, higher authorities are also conducting various investigations to assess whether Facebook is using its market dominance to stifle competition.
On the other hand, Palihapitiya is going places – where no one ever has. To space! After leaving Facebook, Palihapitiya stated the Social Capital, which is responsible for raising and investing venture funds in various startups of that time - including Slack and Box.
On Monday, Palihapitiya completed the merger of his special purpose acquisition company with Virgin Galactic, and saw space tourism stock skyrocketing in its New York Stock Exchange debut.
He also owns a minority of shares in NBA’s Golden State Warriors, where he is also serving as a board member.
Photo: BLOOMBERG/GETTY IMAGES
Read next: How Tech Companies Are Profiting from The Personal Information of User
