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Many technology companies would be more benign if they were owned and governed by their users.

Users have the most to lose from tech-driven addiction and automation,
and their data generate most of the companies’ value.

⭐️User-owners would share in this value and have an incentive to keep companies from causing harm.

❓How might users come together to start and run more technology companies?

Bringing together a disparate and dispersed group of people is difficult;
-- economists call this the #collective #action #problem.

👍Influential nonprofits such as the
🔸Center for Humane Technology and
🔸Project Liberty can play an organizing role,
incubating a new generation of user-owned social media businesses.

While it’s a competitive field with entrenched players,
social media technology is not complex,
and there is a real hunger for more benign versions.

Existing firms can also be redesigned.

✅Instead of raising capital from profit-seeking corporations,
OpenAI could seek funding from users and give them representation on its board.

✅And with users on the board, the company might take more care to launch products safely
and dedicate resources to maintaining employment.

🔥Most important, more of the financial gains of the AI revolution would flow to the people creating the value.

If #Keith #Gill,
also known as #Roaring #Kitty,
could organize retail investors to drive up the market value of #GameStop by $10 billion,
could a similar approach have been employed to acquire Twitter for users in 2022?

Given the millions of defections from the platform since Musk purchased it,
it may not be too late.

The government can also help if it’s not headed off by Big Tech political contributions.

The 🔸Small Business Administration,
the Department of Energy and
the 🔸National Science Foundation
should ✅ encourage user ownership of the companies they fund.

The venture capitalists of Sand Hill Road will of course scream that this is #socialism,
but they will be wrong.

It’s just business.

#MOIC#Elon#Musk
Continued thread

The root of the problem is that the United States and Silicon Valley in particular are dominated by what we call an
🆘 “investor monoculture.”

Modern corporations are designed to serve investors and no one else.

About 80% of public company stock in the United States is owned by institutional investors,
most of which have one objective:
to maximize profits,
largely in the short term and without regard to the costs for society.

In 1980, their share of stocks was just 29%.

Venture capital firms,
the biggest funders of Silicon Valley startups,
have grown from under $400 billion in assets in 2010
to nearly $4 trillion today.

Their performance is measured by
“multiples on invested capital,” or “#MOIC,” as insiders call it.

Suicide rates among young people are up more than 60% since 2007,
and U.S. democracy is in danger.
-- But these are not investors’ concerns.

Regulation and advocacy can certainly make a difference.

But Big Tech is cash-rich, lawyered up and capable of running circles around regulators.

It’s time for a different approach.

When businesses are owned and governed by employees, customers, suppliers or communities, they become less predatory
and more benign.

⭐️And as it turns out, corporations have been designed in such ways across time and cultures.

Capitalism comes in many forms.

❇️Farmers, employees or customers own and govern some of the world’s most respected companies,
including
Ocean Spray,
Publix Super Markets,
Organic Valley,
New York Life Insurance Co. and
Vanguard.

❇️Corporations such as Patagonia,
Rolex,
Novo Nordisk and
Ikea
are owned or controlled by nonprofits, trusts or foundations,
which have no investors
and thus face less pressure to boost profits.

Silicon Valley has examples too.

❇️Mozilla, which operates the web browser Firefox,
is owned by a nonprofit.

It has no incentive to maximize profits,
which explains why it does not sell user data to advertisers.

❇️Wikipedia, among the world’s most visited websites, is also run by a nonprofit,
which shows that scale and impact don’t always depend on investor capital.

❇️A nonprofit owns a majority of ChatGPT maker OpenAI,
a design it chose to “ensure that artificial intelligence benefits all of humanity.”

But its minority investors, such as Microsoft, are profit-driven,
which has led to concerns that it’s releasing products at an irresponsible pace.

#Elon#Musk#Peter

Silicon Valley is maximizing profit at everyone’s expense.

It doesn’t have to be this way

A public battle has broken out among the titans of Silicon Valley.

🔸One side, led by #Elon #Musk, PayPal co-founder #Peter #Thiel and venture capitalists #Marc #Andreessen and #Ben #Horowitz,
is backing Donald #Trump for president.

🔸The other, led by LinkedIn co-founder #Reid #Hoffman, is behind Kamala #Harris.

⚠️We should not make the mistake of thinking this is a battle over ideology or policy.

It’s a battle to ♦️maximize Silicon Valley’s profits regardless of the consequences for society.♦️

On this objective, both sides agree.

Andreessen Horowitz is one of the largest investors in #cryptocurrency and #artificial #intelligence,
and Trump has signaled that he would keep the government out of its business.

Meanwhile, soon after donating $7 million to a Harris super PAC,
Hoffman called for her to oust Federal Trade Commission Chairwoman #Lina #Khan,
who has brought antitrust cases against Big Tech and introduced rules to protect workers.

Silicon Valley, a longtime engine of human achievement,
has become a significant source of human harm.

Aware of the gathering backlash, its leaders have dived into the political fray 💥to protect their wealth.💥

Two Silicon Valley obsessions threaten the most damage:
creating human #addiction to increase profits
and #eliminating #humans altogether to decrease costs.

Social media platforms,
which started out by bringing old friends together and giving voice to the otherwise powerless,
have become “social slot machines”
compelling excessive use.

Gaming companies have a similar objective.

Teenagers today spend more than eight hours a day on screens,
fueling digital advertising revenues that reached $225 billion last year.

Meanwhile, the artificial intelligence revolution promises to cut labor costs.

A recent study by MIT economist #Daron #Acemoglu found that 50% to 70% of the growth in inequality between more and less educated workers can be attributed to automation.

Poverty rates in Silicon Valley’s home state are rising
even as AI makes Big Tech richer.

The broader prospects are equally concerning.

AI is enabling killer robots, autonomous weapons and massively destructive misinformation.

latimes.com/opinion/story/2024

FILE - Tesla and SpaceX CEO Elon Musk talks with President Donald Trump, May 30, 2020, in Cape Canaveral, Fla. (AP Photo/Alex Brandon, File)
Los Angeles Times · A way out of Silicon Valley's profit-driven devastationBy Hans Taparia and Bruce Buchanan

Project 2025, the sweeping right-wing blueprint for a new kind of U.S. presidency,
would ♦️sabotage science-based policies♦️ that address
climate change,
the environment,
abortion,
health care access,
technology and
education.

It would impose #religious and #conservative #ideology on the federal civil service
to such an extent that Republican presidential candidate Donald #Trump has, dubiously,
tried to distance himself from the plan.

But in 2022 Trump said the Heritage Foundation
—the think tank that authored Project 2025
—would “lay the groundwork and detail plans for exactly what our movement will do.”

The project’s main document, a lengthy policy agenda, was published the following year.
Although Trump is not among its 34 authors, more than half are appointees and staff from his time as president;
the words “Trump” and “Trump Administration” appear 300 times in its pages.

At least 140 former Trump officials are involved in Project 2025, according to a CNN tally.
It’s reasonable to expect that a second Trump presidency would follow many of the project’s recommendations.

Project 2025 presents a long-standing conservative vision of a #smaller #government
and describes specific, detailed steps to achieve this goal.
It would shrink some federal departments and agencies while #eliminating others

#dividing the Centers for Disease Control and Prevention into two weaker entities, for instance,
and #abolishing the Department of Education (ED) entirely.

What is even more unusual, and also mapped out in detail, is a plan to exert more #presidential #control over traditionally nonpartisan governmental workers
—those Trump might describe as members of the “deep state,”
or regulatory bureaucracy.

For example, Project 2025 claims that the the "National Oceanic and Atmospheric Administration"
and other scientific institutions are
“vulnerable to obstructionism”
unless appointees at these agencies are
“wholly in sync” with presidential policy.

To that end, it would #reclassify tens of thousands of civil service jobs as political positions that answer to the president.

🔥“The independence of science is being attacked across the board in this document,” says Rachel Cleetus,
policy director of the Climate and Energy program at the nonpartisan Union of Concerned Scientists.

“The importance of this science is that’s how we can ensure people’s health and the environment are being safeguarded.”

(Cleetus notes that her comments address the policy agenda’s contents, not the upcoming presidential election.)

Career scientists who are now employed by the federal government are
💥 “terrified and polishing up their résumés,” says Jacqueline Simon, policy director of the "American Federation of Government Employees," or #AFGE,
a union that represents workers at the National Institutes of Health, the Environmental Protection Agency, the CDC and other agencies.

If Project 2025 becomes reality, she says,
❌“the very idea of scientific integrity will be flushed down the toilet.”

The Heritage Foundation did not respond to Scientific American’s request for comment.

scientificamerican.com/article

Scientific American · Project 2025 Plan for Trump Presidency Has Far-Reaching Threats to ScienceBy Ben Guarino

#Houston Independent School District will be #eliminating #librarian positions at 28 schools this upcoming year and converting the #libraries into ‘Team Centers” where kids with behavioral issues will be sent, the district announced. This comes as part of the new superintendent Mike Miles reform program, New Education System (NES). Currently, there are a total of 85 schools that have joined Miles’ program, and of those, 28 campuses will lose their librarians. click2houston.com/news/local/2 #education

KPRC Click2Houston · HISD to eliminate librarians, turn some libraries into discipline centers at 28 campusesBy Ninfa Saavedra