The following is a guest post contributed by Never” stop marketing>, a growth marketing advisory firm focused 100% on blockchain and decentralized technologies. He presented at the Facebook advertising scandal of 2017.
From my vantage point, we’re seeing the first (and maybe only) Achilles heel for Mark Zuckerberg.
As we know, his profit-making machine depends on being one of only two outlets (the other being Google and the YouTube video issues, brands are willing to forego the potential massive reach of these platforms when they are associated with things they find unsavory. In that example, brands didn’t trust to keep their reputations intact.) where the bulk of the world’s
In theexample, people are losing trust in Zuckerberg’s ability to not totally destroy their society.
Ben Thompson has a brilliant write-up of the challenges facing Zuck in a post called Facebook or to manually review them. It’s not feasible.
So, as Ben says,needs to “harden the operating system,” (which he borrows from Bill Gates’ memo on “trustworthy computing” following the massive number of viruses prior to the release of XP2).
Whatis doing then is to seek to repair trust by:
- Increasing the requirements for authenticity (more documentation, etc.)
- Making advertising more transparent (more tools and tech to catch the bad ads)
It’s a good step — for now. It will increase’s costs some. It’s anyone’s guess by how much though. The challenge that I see is that has a trust problem and will continue to have a trust problem because:
- They have a massive audience, which is a honeypot of attention that will attract bad actors.
- Policing those actors at scale will continue to be expensive and increasingly so. They will have to push out to the perimeter of use cases, preventing the “lone wolf” attack via digital advertising that can create a PR — and therefore brand-related — headache, at best, and market cap destroying moment, at worst.
- They are centralized. At the end of the day, Zuckerberg is saying, “hey, you can trust us to get it right.”
- Transparency and closed enterprise eventually get at odds with each other.
Ultimately, as we saw at Equifax, sometimes private, centralized, controlled organizations don’t want to be transparent about things that are going on “in-house.”
And the idea that we should all just “trust Zuck” to do the right thing? That should make you nervous. Besides, now he and his programmers get to decide (even more than before) who gets to run ads and who doesn’t. Which means you are going to go even more into a “filter bubble” (another part of Ben’s great post) thatdesigns for you, without even realizing it.
I’ve documented tens of times already (and there’s a whole section in the Blockchain” marketing technology landscape>, which grows almost daily with new entrants like Facebook to falter is code that out performs a world-class programmer and businessperson like Zuckerberg.