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Stonewalling, threats and lawsuits: that’s what social media researchers face

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This week, executives from TikTok, Snap, Discord, X (Twitter), and Meta (Facebook) appeared before a congressional hearing in Washington, DC. Mark Zuckerberg of Meta apologized to the parents attending who believe their children died as a result of using social media.

The hearings were preceded by an announcement in May 2023 by U.S. Surgeon General Vivek Murthy, who issued an advisory warning citing his “growing concerns about the effects of social media on youth mental health.” His warning confirmed for many what they had already intuited: that social media has been bad for society.

And now there is a growing body of research suggesting that platforms like Facebook, Instagram and TikTok are also encouraging social and political polarization, breeding radicalization, and eroding democratic institutions.

But despite the startling headlines, none of these critiques is settled science.

For every paper that suggests social media has made us more polarized, there’s another that indicates it hasn’t had any effect at all. Given what’s at stake, finding answers to these questions is paramount. Yet conducting research on social media companies has become exceedingly difficult.

In November 2023, dozens of social media researchers gathered in Montreal for the inaugural Attention conference, to discuss how they can continue to study Big Tech in the face of stifling corporate and political resistance.

One of those researchers was Joan Donovan. Prior to her current post at Boston University, Donovan led a project at Harvard examining the effect of Facebook on American politics and civil discourse. But after a $500 million donation was made to the university from a foundation run by Mark Zuckerberg and his wife, Priscilla Chan, Donovan’s research project was abruptly terminated. She now alleges that Harvard tried to “destroy” her career, because she was “making trouble for the donors.”

Renée DiResta, research manager at the Stanford Internet Observatory, has also faced backlash for her work on social media. After collaborating with the Biden administration to track misinformation around COVID-19, conservative organizations accused DiResta of being a member of the “censorship industrial complex.” She is currently under investigation from House Republicans for her scholarship, and has become the target of a lawsuit from a prominent conservative legal group helmed by former Trump staffer, Stephen Miller.

DiResta and Donovan were joined by Michael Wagner, a professor in the University of Wisconsin-Madison’s School of Journalism and Mass Communication, and another scholar under scrutiny from House Republicans for his work on disinformation.

Here’s an excerpt from their conversation, moderated by IDEAS host Nahlah Ayed.

I think most people understand that there is a problem with social platforms. What’s the most urgent problem with the platforms that requires attention? 

Joan Donovan: Over the last decade of my research into Internet technologies, we’ve gone from seeing social movements being the first to adapt to social media, to now states and governments and, frankly, military operations being carried out on those same platforms. The word platform is very intentional here because they didn’t want you to think about social media as a product. They didn’t want you to think about it like a gun or like tobacco or like pharmaceuticals. See what I’m getting at?

At the Senate hearing on Jan. 31, 2024, Republican Sen. Josh Hawley asked Meta CEO Mark Zuckerberg if he has personally compensated any of the victims and their families for what they have been through. (Jose Luis Magana/The Associated Press)

All of these other big industries that make tons of money are regulated in different ways to protect who? The consumer. To protect national security. So we’ve entered this moment where not just social media, but all of these digital technologies, have gotten away with it. And they’ve gotten away with it primarily because of some U.S. laws which suggest that platform companies are merely information conduits and they’re not businesses like other businesses.

And in some ways, we buy into the myth, we buy into the hype because we ourselves benefit from being able to stalk our exes. And so I’ll stop there. But it’s a problem of regulation, it’s a problem of lobbying, it’s a problem of the companies getting away with it, primarily because we as a society misunderstand the product itself as magic rather than understanding it like we understand other harmful products.

Renée DiResta:  My succinct answer would be unaccountable private power. That’s the challenge. I think one of the key gaps right now, and the reason that it remains such an unaccountable private power, is that there’s very little visibility into a lot of the harmful dynamics on the platforms.

The area that I’ve been most captivated by lately has been around child exploitation content. We’ve looked at how you detect and disrupt networks devoted to that — but also you have the questions of how do platforms do that detection work themselves? Is there oversight that is ensuring that they do it? Who is looking on the outside to provide an oversight function when there has been very little actual government oversight, particularly within the United States? So I think that question of how do we gain visibility and then how do we think about accountability.

Former Facebook employee and whistleblower Frances Haugen testified at a Senate Committee hearing about protecting kids online, Oct. 5, 2021. She left Facebook in May 2021 and provided internal company documents about Facebook to journalists and others, alleging that Facebook consistently chose profit over safety. (Jabin Botsford-Pool/Getty Images )

Michael Wagner: These are both really good answers. And so I’m going to do something a little stranger. I’ll talk about this in two ways, one of which relates to how we understand how humans behave on social media. And we tend to think of it as people doing things on social media. But that is not how most people live their lives. They live their lives in an overall information ecology where we talk to human beings face to face about things that matter to us. We watch news on television, we read news on paper. But one thing we tend to say is ‘is social media causing this problem? Is social media to blame for this or that?’ It’s how our use of social media interacts with all of the other things that we get information from. And we spend too little time thinking about that. So the behaviour answer, I think, is we kind of misunderstand social media’s power when we think about what it does.

The other problem is that one thing that researchers are supposed to be able to do in this space is to act as referees. What can we verifiably tell you is true or not about the way different platforms operate and how they influence what people believe to be true, what they want, how they behave, how they organize, all those kinds of things? And in the current environment, the things that both Joan and Renee were talking about have become deeply politicized. And people like us, people who are doing this kind of work, are now finding themselves the subject of attention rather than their research.It makes it really hard for us to really understand what’s happening with respect to platforms, power and democracy, when the people who were supposed to be doing the verifiably accurate and deep research about it are being attacked at every turn.

 If the idea is — what can you verifiably tell us about what these platforms do to our lives — what is the effect of the politicization? What does that prevent you from being able to do? 

Renée DiResta: We were part of the Twitter Moderation Research Consortium, which was a researcher relationship that Twitter put together. Most of the work that I did in the context of the relationship with Twitter looked at state actor takedowns. We looked at influence operations from Egypt and Saudi Arabia targeting Iran, and Iran targeting them back. We looked at China and Taiwan, China and Hong Kong. And this work only happens when there is an open channel of communication. And when you create the perception that an open channel of communication is some sort of collusion or some sort of nefarious cabal to prevent people from speaking freely, you create an opportunity by which that [platform/researcher] relationship becomes chilled.

When state actors are undertaking these operations, it’s not because they are just doing something for fun, right? They’re aiming to either maintain or obtain political power. And so when we do work that disrupts that, a lot of the response is actually to try to discredit the researcher. I can’t tell you how many times Sputnik and RT have written about us over the years. There have been multiple occasions where people who have family in China or in India or in Turkey receive visits from governments. So there are very real costs associated with this. And it is in the interests of power to prevent those kinds of relationships from being transparent and effective. And that chilling effect has extended into the United States now as well.

Joan Donovan: I’ve had a very particular experience with power and influence. When you’re, in my case, a non-tenured academic what it does is it protects you from outsiders encroaching on your work and trying to influence you in different ways. The kind of power that I’ve experienced is more so a soft power. It’s not a good thing for a senator to call your boss about research that you’re doing. No matter who your boss is and no matter who the senator is.

Nahlah: We’re speaking hypothetically. 

Joan Donovan: Hypothetically, say someone from a company joins the board of your school and maligns your reputation at that advisory meeting. Hypothetically. The point is that there are all of these soft power moments where people in power who you’re investigating — their benefits decrease the more truth you uncover. Our job is fundamentally about telling the truth — and finding the truth in places where people in power don’t want you to be looking.

U.S. Surgeon General Vivek Murthy spoke to reporters at the White House, July 15, 2021, calling on social media companies to do more to combat false information about the coronavirus vaccine and other health care topics. (Chip Somodevilla/Getty Images)

So as members of the public who keep hearing that social media platforms cause society harm — they might be polarizing, they might be affecting our political landscapes. How much confidence can we have that the right questions are being asked about how these platforms affect our society?

Michael Wagner: I think social media is lighter fluid in some ways. But it’s also the case that humans have done awful things and have been deeply divided. Like there was a four year long civil war in the United States that wasn’t started by Facebook. There are partisan entrenchments that lead to violence or other anti-democratic behaviours. And the platforms make some of these things easier. They make some of them easier to spot. They make some of them easier to coordinate. [But] let’s not just study Facebook — let’s look at how people actually use these things and how the affordances of one might lead to what happens on another. That’s one path forward to help us try to understand how to think about solving some of these larger problems.

Joan Donovan: There is something going on with the children, and the kind of content that young people are being exposed to. It’s not like when we were kids and you happened to find, a Hustler ripped apart in the woods. Pornography is a part of their daily diet online, that kind of hypersexualization, social comparison. This is happening over and over and over again.

The design of Instagram itself is made to make teenagers feel inadequate so that they keep staying on the platform. And there’s 42 states in the U.S. now where attorney generals are suing social media because they knew their product design was harmful to teenagers and they chose to do nothing. They chose not to implement any kind of things that would tamp down the impact on younger folks.

I’m not making the argument from the 90s that we need to put stickers on CDs. I’m making the argument that this is the product. This is the product and the product could be different. I mean, it’s the biggest tell — if Facebook can get rid of the news in Canada, why can’t they get rid of hate? Why can’t they get rid of the racism? Why can’t they get rid of the ghost guns? There’s all kinds of things that happen on that website that once you start to dig into it, you realize there’s no such thing as the dark web. It’s just Facebook.

 

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Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

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Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

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Arizona man accused of social media threats to Trump is arrested

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Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

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Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition

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Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.

One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.

However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.

In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”

Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.

For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”

The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.

Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.

Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.

Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”

Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.

Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.

As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.

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