San Francisco, September 24, 2017: Facebook CEO Mark Zuckerberg has said he wants to sell 35-75 million Facebook shares in the next 18 months to fund the company’s work in education, science, and advocacy.
“Over the past year and a half, Facebook’s business has performed well and the value of our stock has grown to the point that I can fully fund our philanthropy and retain voting control of Facebook for 20 years or more,” Zuckerberg wrote in a post.
“I want to be clear: this doesn’t change Priscilla and my plans to give away 99 percent of our Facebook shares during our lives. I anticipate selling 35-75 million Facebook shares in the next 18 months to fund our work.”
He said his wife Priscilla and he feel a responsibility to do their part to address global challenges — like curing all diseases in their children’s lifetime and personalising education for every student.
He also asked the company’s board to withdraw the proposal to reclassify the stock that he proposed to create last year.
The idea of the proposal was that it would allow Zuckerberg to keep voting control of Facebook so the company can continue to build for the long term and allow Priscilla and him to fund the work the were doing through the Chan Zuckerberg Initiative. (IANS)
Social media is a strange place that connects millions of people worldwide. It is a platform that keeps people engaged in several trending issues. However, the point of concern being, how do they react? This makes social media a double-edged sword.
Let’s take an example. Once, a photo of a young schoolboy from a poor family went viral. The boy was sitting outside a Noida metro station, trying to earn money through a weighing scale and studying at the same time. He caught the attention of one of the commuters. A picture was taken and uploaded on Facebook. The picture went viral. Now, there were several people who came forward to help. One of them was the then Chief Minister of Uttar Pradesh Akhilesh Yadav, who promised to ensure full opportunity for them to study without having to work.
This was one example or the so-called ‘positive side’ of social media. Now let’s turn the page and look at the other side of the road. Here the ‘other-type’ instances on social media:
In 2012, morphed pictures and videos of earthquake victims went viral. The morphed images were aimed to show that these were Muslim victims of civil riots in Assam and Burma. This was done to provoke riots by vested interests.
There were instances of hate and revenge messages being spread against Hindu migrants living in South India. This resulted in a mass exodus of people from the North East.
At an individual level, there are many examples where when a relationship went sour, one of the partners uploaded intimate pictures, videos or information, in revenge against their former partner.
Another point of concern is the easy access to all types of porn by minors. This is resulting in rapidly changing social behavior and redefining morality.
The major problem being stated is that the society as a larger whole is unable to keep pace and social media is, hence, increasing the gap between older and younger generations rather than bringing them closer.
Should there be government intervention in the use of social media?
India is witnessing increasing internet and mobile penetration. With first-time users onto these platforms, the risk of mass hysteria or communal reactions increases. It is imperative for the government to get together all stakeholders of civil society and try and address the issue of balancing media freedom with media regulation.
Putting regulations or any type of curbs on the internet will be a sensitive subject in any type of free society and of course, it will result in certain opposition. However, what we need to understand is, each society is different. Therefore, every society has to develop its own mechanism to address the negative consequences of social media.
For example, the Indian government had blocked internet services in the state of Jammu and Kashmir during the period of eid in 2015. It was a preventive measure. However, despite the ban, there were clashes with the police and violence. The point of concern being, the situation could have been much worse had the internet and social media been accessible.
With the world getting increasingly connected through the web and India on the cusp of a ‘Digital’ revolution, the government must take up establishing clear cybersecurity laws and cyber management policies on an urgent basis. Social media could work as a development catalyst or could become a national threat.