Buying Facebook Stock for $38

Joseph Pisani, reporting for the AP in the moments before Facebook’s IPO:

[Dennis Hitchings] said that he doesn’t think Facebook is worth $100 billion — “They don’t have the revenue” — but he did say he would buy the stock at $38.

Um, yeah. If you’re able to but the stock at just $38 then you should buy as much as you can. That price will be a distant memory by the time the average Joe is able to invest.

TED Censorship: The Rich Don’t Create Jobs

Edit: You can read Chris Anderson’s full explaination on his blog. Here’s an excerpt:

We discussed [whether or not to feature the video] internally and ultimately told the speaker we did not plan to post. He did not react well. He had hired a PR firm to promote the talk to MoveOn and others, and the PR firm warned us that unless we posted he would go to the press and accuse us of censoring him. We again declined and this time I wrote him and tried gently to explain in detail why I thought his talk was flawed.

And now my original post:

From the infamous censored TED talk by Nick Hanauer (full text here):

Since 1980 the share of income for the richest Americans has more than tripled while effective tax rates have declined by close to 50%.

If it were true that lower tax rates and more wealth for the wealthy  would lead to more job creation, then today we would be drowning in jobs.  And yet unemployment and under-employment is at record highs.

This is an excellent point. Our entire economy is based on the principal that the rich create jobs, but it really is an extremely codependent system that relies heavily on the middle class. If the principal was simply “the rich are job creators” there should be a supporting graph showing the wealthy getting richer parallel to an increase in jobs. Reality is, in fact, the opposite.

Working out some simple math makes this even more apparent:

The annual earnings of people like me are hundreds, if not thousands, of times greater than those of the median American, but we don’t buy hundreds or thousands of times more stuff. My family owns three cars, not 3,000.

As a counterpoint, the rich do buy higher priced items. Their house (or houses) might possibly be worth thousands of times more than the median American home. Same with car(s) and/or the oh-so-chic private jet. Still, without crunching numbers, I sense that the income/expense ratio is still widely different between the median American and the ultra-wealthy.

Chris Anderson, curator of the TED talks, defended this censorship:

But even if the talk was rated a home run, we couldn’t release it, because it would be unquestionably regarded as out and out political. We’re in the middle of an election year in the US. Your argument comes down firmly on the side of one party.

Um, since when is supporting the middle class a partisan stance? How is this even political at all?

The speech simply discusses the symbiotic relationship between company builders and product consumers (the middle class). Hanauer argues that the ultra-rich can’t create jobs without people consuming goods. He explains the disconnect between the wealthy getting wealthier and jobs being created.

I can’t help but feel there is more behind this censorship than “political” content.

Facebook is Censoring Me

I first noticed it May 10th. I made a post on my blog and, as I always do, shot the link out to twitter and posted it for my small group of friends and family on Facebook. I posted the link using the Facebook iPhone app and it instantly appeared in my newsfeed. I then swiped down to refresh the feed and the post disappeared.

Thinking it was a fluke, I waited a few minutes and refreshed the feed again. Still not there. I navigated to my personal timeline, refreshed that feed, and the the link status update showed up correctly. This was proof that Facebook successfully received my latest post, but when I jumped back to the newsfeed there was still nothing.

I figured it was a fluke and didn’t worry about it too much.

The next day, May 11, I made two non-link status updates. They showed up on newsfeeds successfully garnering a few likes and comments.

On the 13th, I posted another link. This time the link pointed to Aereo rather than my blog. Once again, showed up in my timeline but not in my newsfeed. I had a few close friends (people who are either subscribed to all my posts or usually see all my posts in their newsfeeds) verify that this post was not on their newsfeeds either.

Between May 13th and today, May 17th, I have made four link posts (to three different domains) and three non-link status updates from both my mobile decice as well as my desktop computer. Every single link has been censored from mine and my friend’s newsfeeds.

I searched Google for people experiencing similar issues and found nothing. I sent Facebook a report of the issue on the 14th of May and received a generic reply a day later:

Thanks for taking the time to report this to us. We’re sorry to hear you’re experiencing an issue using Facebook. While we aren’t responding to every report, we may reach out to you for more information as we investigate this.

I have heard nothing since.

I’m not sure if my link posts have been somehow flagged as spam or if there is some other issue at play. Can status updates such as these even be flagged as spam? I’m a long time active Facebook user with a closed tight-knit community of friends. None of my posts or personal information is public, my privacy settings are tight, and all of my Facebook friends voluntary. There is no reason why any of my posts should be censored.

I use Facebook as a way to share my life and my blog with my friends, many of whom don’t use RSS readers, don’t keep up with blogs, and don’t follow me on Twitter. If anyone doesn’t want to see my links, they’re welcome to show “only important” updates from me.

It is NOT Facebook’s place to censor me.

Instagram Socialmatic Camera is Pretty

While I, myself, am not an Instagram user1, I am a sucker for concept designs and an even bigger sucker for pretty industrial design.

This is by Antonio Pedrosa at ADR studio, a concept piece called the Instagram Socialmatic Camera. I want to touch and hold and play with this. Oh man, do I want to touch and hold and play with this.

The project is apparently raising money on indiegogo, but I’m not sure it could even get the support to see the light of day even if the funds were raised. Oh well.

  1. I deleted my Instagram account after the acquisition by Facebook, but was never really an active user before the acquisition either.

On Being Scammed by “Internet Marketers”

A longform piece by Joseph Flatley writing for The Verge:

It was only when he got back home [from the hospital] and started to recover, and “started thinking like a person again” that Joseph realized that Rob Martino, the salesman from Raygoza’s operation, the one who claimed his brother was also a paraplegic, had ripped him off…Joseph would wheel himself out of earshot of his family and work the phone. Many hours were spent in vain, trying to hold the voices on the other end of the line accountable. Ultimately, that’s all they were — voices. Apparitions, almost.

These are not poorly written emails from “Nigerian princes” who want you to help them transfer money. This is a different caliber of scam, preying on people who believe that they really are the 1,000,000 visitor to a website or who purchasing an eBook that guarantees a successful online business. The “boiler room” call centers operate right here in America.

When we hear about scammers and scamees, it’s easy to write off the consequences, but it’s jarring when journalists turn anonymous “scam victims” into real people. This article is no different.