Sean Parker on Mark Zuckerberg and Facebook: ‘You’re exploiting vulnerability in human psychology’ (MarketWatch.com – Top Stories)

Sean Parker on Mark Zuckerberg and Facebook: ‘You’re exploiting vulnerability in human psychology’

http://on.mktw.net/2yKXbx8










Sean Parker has an update for Mark Zuckerberg.

Parker, 38, the founding president of Facebook












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and founder and chair of the Parker Institute for Cancer Immunotherapy, told an Axios event Wednesday at the National Constitution Center in Philadelphia that the biggest social network on the planet is a behemoth that consumes people’s time. After the interview, Parker joked that he would likely have his Facebook account blocked, Axios reported. (Parker’s verified Facebook account has over 506,000 followers.)

The man who was reportedly an early inspiration for the young Zuckerberg and co-founded the music file-sharing site Napster in 1999, five years before Facebook, called the social network “a social validation feedback loop.” He added, “It’s exactly the kind of thing that a hacker like myself would come up with because you’re exploiting vulnerability in human psychology. The inventors, creators, it’s me, it’s Mark… understood this consciously and we did it anyway.”



















‘It’s a social validation feedback loop. It’s exactly the kind of thing that a hacker like myself would come up with because you’re exploiting vulnerability in human psychology.’



Sean Parker







He said the thought process that went into building these applications — “Facebook being the first of them to really understand it” — was all about capturing your attention and never letting go. “That thought process was about how much do we consume as much of your time and conscious attention as possible,” Parker said. “That means we need to give you a dopamine hit every once in a while because someone liked or commented on a photo or a post, or whatever. And that’s going to get going to get you to contribute more content.”
























Don’t miss: Facebook’s top 10 most annoying users

Zuckerberg, 33, has long said Facebook brings people together. At a recent Harvard University commencement speech, during which he sounded warnings about automation, he said, “When our parents graduated, purpose reliably came from your job, your church, your community. But today, technology and automation are eliminating many jobs. Membership in communities is declining. Many people feel disconnected and depressed, and are trying to fill a void.”



















‘We need to give you a dopamine hit every once in a while because someone liked or commented on a photo or a post, or whatever. And that’s going to get going to get you to contribute more content.’



Sean Parker







Facebook currently has bigger issues, stemming from last year’s presidential election. The site was a main platform for Russian-bought ads during the 2016 presidential campaign, where more than 126 million Americans may have been exposed to Russia-backed Facebook posts. The company has been accused of fake audience numbers. It allegedly told advisers it could reach more than 100 million adults under 35 years old, but the U.S. Census Bureau only counts 76 million.

Facebook shows no signs of slowing down. The company’s third-quarter results recently beat both earnings and revenue expectations. The company reported third-quarter net income of $4.7 billion, or $1.59 a share, up from $2.63 billion, or 90 cents a share, a year earlier, MarketWatch reported. Revenue increased to $10.33 billion from $7 billion in the same period a year earlier. As for the dopamine hit Parker referenced: Daily active users spiked 16% to 1.37 billion. (Facebook was not immediately available for comment.)

As addictive as Facebook may be for a couple of billion people around the globe, there is perhaps one person you should never unfriend.































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via MarketWatch.com – Top Stories http://on.mktw.net/2w6i9Ah

November 9, 2017 at 06:11AM