Tagged: Joints After Midnight & Rants Toggle Comment Threads | Keyboard Shortcuts

  • feedwordpress 18:53:51 on 2020/11/30 Permalink
    Tags: , , , , , , , Joints After Midnight & Rants, , , the press   

    Media and Marketing Leaders: It’s Time to Stand Up For Truth 


    Warning: preg_match_all(): Compilation failed: invalid range in character class at offset 7 in /homepages/23/d339537987/htdocs/ec/wp-content/themes/p2/inc/mentions.php on line 77
    Why “information equity” matters.

     

    An idea has been tugging at me for months now, one I’ve spent countless hours discussing and debating with leaders in marketing, media, and journalism. And as I often do, I’m turning to writing to see if I can push it into more concrete form. I’m literally thinking out loud here, but I won’t bury the lede: I believe it’s time for all major corporations – not just the companies that pushed for the #StopHateForProfit boycott – to call for a broader, more universal movement related to their marketing practices and their “Corporate Social Responsibility” efforts.This isn’t about punishing platforms, rather it’s about reimagining our relationship to them, and shifting our focus to the externalities our collective dependance upon them has created. For now, I’m calling the movement “Information Equity” – a rather dry and academic moniker, to be sure. Toward the end of this post, I’ll ask for your help in pushing the idea forward. But for now, let me explain what I’m on about.

    ***

    Some years back I helped start a company called NewCo, an effort to identify and promote companies that view business as a force for good. The idea sprang from an observation that the most successful companies often had purpose at their core, they were animated by a desire to make the world better in some measurable way. Lately the idea of business as a force for good has found broader appeal, to the point where the Business Roundtable recently revised its definition of purpose in business. No longer would the true north of business be the maximization of profit for shareholders. In its place would now sit a new lodestar: “Creating an economy that serves all.”

    It’s easy enough to dismiss such declaratives as lipstick on the soulless pig of capitalism, but these kind of statements shift societal expectations over time, and eventually they change outcomes as well. Large corporations are increasingly being held to account by employees, customers, and the communities they impact. It’s demonstrably true that business practices have changed in recent years. And the last nine months – replete with a global pandemic and a deadly serious racial reckoning – have deeply accelerated those changes. Driven by COVID, the Black Lives Matter movement, and an impending climate disaster, “Corporate Social Responsibility” has now taken center stage in American business.

    Now that the klieg lights are on, the question rightly becomes: What will corporations do with the microphone?

    It’d be tempting to claim victory, and point to the change that’s already here. Less than a generation ago, it would have been corporate suicide to take a stance on charged issues like race, gender, or the environment. But today, the world’s largest advertiser – Proctor & Gamble – employs its marketing budgets to create and promote powerful films decrying systemic racial and gender inequality. The world’s largest money manager – BlackRock – has put climate change at the center of its investment and governance decisions. For each of these formerly third-rail issues – race, gender, climate – hundreds of major corporates have declared similar intentions.

    But while  race, gender, and environmental equity have become rallying cries for mainstream corporate America – and rightly so – there’s another fundamental human right I’d like to see taken up by our newly woke business leaders. This particular right – or its absence – drives society’s comprehension, education, discussion, debate and ultimately, society’s actions related to resolving historically intractable issues of human rights.

    In short, if we are going to solve our largest problems, we must first solve society’s problem with the truth.

    ***

    Over the past ten or so years, American society has lost its faith in a shared truth. We simply don’t believe the same things anymore. And in the battle to defend our particular versions of truth, we have badly weakened journalism – our historical institution of truth-telling.  We’ve not simply undermined journalism’s economic models, but more importantly, we’ve marginalized its impact and primacy in helping us determine the facts upon which society determines progress. We have questioned journalism’s motives, its  business models, and the social compact granting journalism the right to determine fact, establish reason, and debate course of action.

    I am not arguing these questions should not be raised – journalism is imperfect at best. But in abandoning journalism, we might have forgotten a larger question: If a free and fair press is not the answer to finding our common truth then … what exactly is? Think for a moment on what might replace journalism in our society. You’ll likely find yourself in a rather dark mood.

    Over centuries, we have built journalism as an institution of truth telling – in concert, in opposition, and even in cahoots with institutions of power in government, religion, and business. This truth-telling organ is commonly referred to as the Fourth Estate, and its record is both speckled and glorious. But it’s also the only private institution empowered by a Constitutional name check – and in the First Amendment, at that. So as far as I’m concerned, if ever there was a purpose-driven business, it’s one built around a newsroom. The mission of a news business is to fulfill the right of the people to be informed by truth. To deliver as full and transparent an account of truth as is possible. To hold truth as a mirror to power. And to demand an accounting if, once put to power, those truths do not square with the powerful’s actions.

    Without standard-bearers capable of this endless and grinding work, democracy is lost.  Without access to high-quality news reporting, the citizens of this nation will make decisions based on rumor, bias, self-interest, and fear.

    I’m all for Benkler’s concept of a “networked Fourth Estate” – that the rise of the Internet has added a multitude of actors – bloggers, non-profits, citizen journalists – to the category we might call “the press.” And the rise of social media has, indeed, given everyone with a voice an opportunity to speak. But we’ve failed to place guardrails around the institutional mechanisms which determine how these new voices are distributed in our society. At present, the inscrutable algorithms and powerful business models of our largest technology platforms determine the information diets of a growing majority of Americans. And I think it’s inescapably true that as things stand, these platforms have no incentive to change how they do business. That’s where corporations – and their advertising budgets – must come into play with a more long-term solution.

    ***

    Quality journalism at scale is under extreme duress. Yes, the Times, the Post, the Atlantic, the Wall Street Journal have all experienced a renaissance in the past few years. But all you readers of long form journalism, you devourers of words by the thousand, you are not the citizens of whom I speak. Your information equities are not in peril, your privilege is intact.

    What matters here is scale. Read Charlie Warzel or listen to Kevin Roose, and ponder the citizen who can’t afford (or simply doesn’t wish) to take their news from high-quality print outlets. When more than a hundred million Americans struggle to cover a $400 medical bill, society needs an advertising-supported model that brings quality information to the masses (this of course is Zuckerberg’s favorite defense for why Facebook is ad-driven, which is one of many examples of how the company has subverted the clothing of journalism without accepting its responsibilities). When the most convenient free service for news is Facebook, then Facebook will become America’s answer to news. As a result, tens of millions of our fellow citizens are caught in the jaws of systemic information bias, of institutionally-driven information pollution. One-quarter of Americans believe the recent election was possibly stolen, and a full third of us believe that the new administration may well enslave children for sexual favors. We’re in the grip of an information-driven disease – an information pandemic –  the cancerous externality of a society which has deemed the growth of our most profitable companies more important that the dissemination of fact-based information and truth.

    ***

    So what is business going to do about it?

    Boycotts are fine, but business must make combatting the lack of quality information in our society a primary and ongoing goal. Surely if corporate America can get comfortable with activism on behalf of racial, gender, and environmental equality, it can throw its support behind every citizen’s right to quality information.

    But how? How might business lead when it comes to addressing this fundamental issue?

    There are scores of ideas yet to be imagined, and plenty of think tanks, non-profits, and other organizations already working on important parts of this problem. But for all its skill at communication, the media industry has been far too silent in advancing solutions. It was just last month – last month!! – that the Global Alliance for Responsible Media, a working group comprised of leading platforms, media agencies, and brand advertisers, added “Misinformation” to its long list of “harmful content.”

    That’s progress, but democracy can’t wait for a committee report sometime next year. The most important step we can take now is to declare information equity an issue worthy of support by the business community. Marketers must dedicate a small but substantial portion of their budgets – which in aggregate equate to hundreds of billions of dollars each year – to a stated commitment supporting the creation and distribution of quality journalism at every level of society. I’ve written extensively elsewhere about how this is possible without abandoning the benefits of scale, targeting, and efficiency that platforms unquestionably bring to our industry. Not only is it possible, it’s also good for business results – and society at large.

    The media industry helped to create this problem of misinformation – by funding the rise of platforms, by ignoring the externalities these platforms foisted onto society, and by growing addicted to the results the platforms delivered to our bottom lines. If we don’t renegotiate the relationships between marketers, platforms, media companies and the audiences we all serve, how can we expect anything to change?

    Just as the planet can no longer tolerate the externalities of an economy driven by carbon, and just as our society can no longer tolerate the externalities of a culture driven by institutional race- and gender-based injustice, we can no longer whistle past the graveyard of truth.

    If you agree, please join me in an ongoing conversation. My email is jbat @ therecount dot com – hit me up, and I’ll add you to an engaged community of agency leaders, marketing executives, media entrepreneurs, and others who are interested in finding a path forward. I look forward to the dialog, and as always, thanks for reading.

     
  • feedwordpress 01:20:40 on 2020/10/14 Permalink
    Tags: , , , Joints After Midnight & Rants, , , , speech   

    Facebook Is Finally Admitting It’s A Publisher 


    Warning: preg_match_all(): Compilation failed: invalid range in character class at offset 7 in /homepages/23/d339537987/htdocs/ec/wp-content/themes/p2/inc/mentions.php on line 77

    The video above is from a conversation at The Recount’s SHIFT event last month, between Nick Clegg, Facebook VP, Global Affairs and Communications, and myself. If you can’t bear to watch 30 or seconds of video, the gist is this: Clegg says “Thank God Mark Zuckerberg isn’t editing what people can or can’t say on Facebook, that’s not his or our role.”

    One month later, with Trump down in the polls and the political winds shifting, well, let’s just say the company has changed its tune. Dramatically. Not only has it banned Holocaust denial, it’s also banned anti-vax advertising and taken steps to pro actively manage the disinformation shitshow that will be the Trump campaign post election.

    Witness this quote, from Zuckerberg himself, in his recent post framing why Facebook will now ban Holocaust denial from the platform: “Drawing the right lines between what is and isn’t acceptable speech isn’t straightforward, but with the current state of the world, I believe this is the right balance.”

    Excuse me while I point out the most fucking obvious thing in the world when it comes to what an editor actually does: We draw lines about what is is and isn’t acceptable, either as fact, as truth, as hypocrisy, or what is in the public interest. That’s the damn job of journalists: To call bullshit. And regardless of Facebook’s longstanding claims to not be a publisher or a journalistic entity, the truth is, these actions prove the company understands it is an arbiter of facts, truth, and the public interest. The  simple reality is this: The company has tried to have it both ways for Too. Fucking. Long. It’s time we treat Facebook for what it is: A media company, subject to the norms, responsibilities, and behaviors we all expect and demand from our media providers.

     

     
  • feedwordpress 03:10:56 on 2020/04/30 Permalink
    Tags: , , , , , Joints After Midnight & Rants, , saas, , ,   

    Zoom Is YouTube, Instagram, and WhatsApp – All in Two Months. 


    Warning: preg_match_all(): Compilation failed: invalid range in character class at offset 7 in /homepages/23/d339537987/htdocs/ec/wp-content/themes/p2/inc/mentions.php on line 77

    If you’ve read Shoshana Zuboff’s Surveillance Capitalism, you likely agree that the most important asset for a data-driven advertising platform is consumer engagement. That engagement throws off data, that data drives prediction models, those models inform algorithms, those algorithms drive advertising engines, and those engines drive revenue, which drives profit. And profit, of course, drives stock price, the highest and holiest metric of our capitalistic economy.

    So when an upstart company exhibits exponential growth in consumer engagement – say, oh, 3,000-percent growth in a matter of two months – well, that’s going to get the attention of the world’s leading purveyors of surveillance capitalism.

    And in the past week, Facebook and Google have certainly been paying attention to a formerly obscure video conferencing company called Zoom.

    As I’ve already pointed out, Zoom has become a verb faster than any company in history, including Google. The COVID-19 pandemic shifted nearly all of us into a new mode of video-based communication – and Zoom just happened to be at the right place, at the right time, with … a better product than anyone else. As of this writing, the company’s user base has grown from 10 million users a day to 300 million users a day – that’s two times bigger than Twitter, and nearly 20 percent of Facebook’s entire daily user base.

    That, my friends, is an existential threat if you’re in the business of consumer engagement. Which is exactly why we saw news on the videoconferencing front from both Facebook and Google this week.

    Item #1: This past Friday, Facebook announced Messenger Rooms, a video conferencing app that allows up to 50 people to have Zoom like experiences for free.

    Item #2: Not to be outdone, Google today announced that its Meet videoconferencing tool, which formerly came with its paid G Suite service, is now free and will support 100 simultaneous users.

    Item #3: Zoom’s high flying stock has lost 13% of its value since those two events.

    Both companies are attacking Zoom’s core business model: paid software as a service. As I’ve explained in earlier posts, Zoom offers a limited free service, and is in the business of convincing folks to pay for more premium features. This SaaS model works well in the world of enterprise (business to business) but when it comes to us consumers, well, the only place we’re willing to pony up at scale is entertainment (think Spotify, Netflix, etc.). Anything else, we’re fine with ads, even if they’re annoying.

    All of this forces Zoom’s hand. It’s now squarely in the crosshairs of the two most valuable advertising companies ever created. Will it pivot to an advertising model, as I speculated earlier? Will it succumb to an acquisition offer, as engagement traps Instagram, YouTube, and WhatsApp did before it? Or will it find a third way, and build an entirely new consumer behavior based on a paid service, free of the surveillance capitalism model that has dominated consumer apps for the past ten years?

    Pass the popcorn, folks. This is going to be a great show.

     
  • feedwordpress 02:52:58 on 2020/01/06 Permalink
    Tags: , , , Joints After Midnight & Rants, , , , , , ,   

    Predictions 2020: Facebook Caves, Google Zags, Netflix Sells Out, and Data Policy Gets Sexy 


    Warning: preg_match_all(): Compilation failed: invalid range in character class at offset 7 in /homepages/23/d339537987/htdocs/ec/wp-content/themes/p2/inc/mentions.php on line 77

    A new year brings another run at my annual predictions: For 17 years now, I’ve taken a few hours to imagine what might happen over the course of the coming twelve months. And my goodness did I swing for the fences last year — and I pretty much whiffed. Batting .300 is great in the majors, but it kind of sucks compared to my historical average. My mistake was predicting events that I wished would happen. In other words, emotions got in the way. So yes, Trump didn’t leave office, Zuck didn’t give up voting control of Facebook, and weed’s still illegal (on a federal level, anyway). 

    Chastened, this year I’m going to focus on less volatile topics, and on areas where I have a bit more on-the-ground knowledge — the intersection of big tech, marketing, media, and data policy. As long time readers know, I don’t prepare in advance of writing this post. Instead, I just clear a few hours and start thinking out loud. So…here we go.

    1. Facebook bans microtargeting on specific kinds of political advertising. Of course I start with Facebook, because, well, it’s one of the most inscrutable companies in the world right now. While Zuck & Co. seem deeply committed to their “principled” stand around a politician’s right to paid prevarication, the pressure to do something will be too great, and as it always does, the company will enact a half-measure, then declare victory. The new policy will probably roll out after Super Tuesday (sparking all manner of conspiracies about how the company didn’t want to impact its Q1 growth numbers in the US). The company’s spinners will frame this as proof they listen to their critics, and that they’re serious about the integrity of the 2020 elections. As with nearly everything it does, this move will fail to change anyone’s opinion of the company. Wall St. will keep cheering the company’s stock, and folks like me will keep wondering when, if ever, the next shoe will drop. 
    2. Netflix opens the door to marketing partnerships. Yes, I’m aware that the smart money has moved on from this idea. But in a nod to increasing competition and the reality of Wall St. expectations, Netflix will at least pilot a program — likely not in the US — where it works with brands in some limited fashion. Mass hysteria in the trade press will follow once this news breaks, but Netflix will call the move a pilot, a test, an experiment…no big deal. It may take the form of a co-produced series, or branded content, or some other “native” approach, but at the end of the day, it’ll be advertising dollars that fuel the programming. And while I won’t predict the program augurs a huge new revenue stream for the company, I can predict that what won’t happen, at least in 2020: A free, advertising-driven version of Netflix. Just not in the company’s culture. 
    3. CDA 230 will get seriously challenged, but in the end, nothing gets done, again. Last year I predicted there’d be no federal data privacy legislation, and I’m predicting the same for this year. However, there will be a lot of movement on legislation related to the tech oligarchy. The topic that will come the closest to passage will be a revision to CDA 230 —the landmark legislation that protects online platforms from liability for user generated content. Blasphemy? Sure, but here we are, stuck between free speech on the one hand, massive platform economics on the other, and a really, really bad set of externalities in the middle. CDA 230 was built to give early platforms the room to grow unhindered by traditional constraints on media companies. That growth has now metastasized, and we don’t have a policy response that anyone agrees upon. And CDA 230 is an easy target, given conservatives in Congress already believe Facebook, Google, and others have it out for their president. They’ll be a serious run at rewriting 230, but it will ultimately fail. Related…
    4. Adversarial interoperability will get a moment in the sun, but also fail to make it into law. In the past I (and many others) have written about “machine readable data portability.” But for the debate we’re about to have (and need to have), I like “adversarial interoperability” better. Both are mouthfuls, and neither are easy to explain. Data governance and policy are complicated topics which test our society’s ability to have difficult long form conversations. 2020 will be a year where the legions of academics, policy makers, politicians, and writers who debate economic theory around data and capitalism get a real audience, and I believe much of that debate will center on whether or not large platforms have a responsibility to be open or closed. As Cory Doctorow explains, adversarial interoperability is “when you create a new product or service that plugs into the existing ones without the permission of the companies that make them.” As in, I can plug my new e-commerce engine into Amazon, my new mobile operating system into iOS, my new social network into Facebook, or my new driving instruction app into Google Maps. I grew up in a world where this kind of innovation was presumed. It’s now effectively banned by a handful of data oligarchs, and our economy – and our future – suffers for it. 
    5. As long as we’re geeking out on catchphrases only a dork can love, 2020 will also be the year “data provenance” becomes a thing. As with many nerdy topics, the concept of data provenance started in academia, migrated to adtech, and is about to break into the broader world of marketing, which is struggling to get its arms around a data-driven future. The ability to trace the origin, ownership, permissions, and uses of data is a fundamental requirement of an advanced digital economy, and in 2020, we’ll realize we have a ton of work left to do to get this right. Yes, yes, blockchain and ledgers are part of the discussion here, but the point isn’t the technology, it’s the policy enabling the technology. 
    6. Google zags. Saddled with increasingly negative public opinion and driven in large part by concerns over retaining its workforce, Google will make a deeply surprising and game changing move in 2020. It could be a massive acquisition, a move into some utterly surprising new industry (like content), but my money’s on something related to data privacy. The company may well commit to both leading the debate on the topics described above, as well as implementing them in its core infrastructure. Now that would really be a zag…
    7. At least one major “on demand” player will capitulate. Gig economy business models may make sense long term, but that doesn’t mean we’re getting the execution right in the first group of on demand “unicorns.” In fact, I’d argue we’re mostly getting them wrong, even if as consumers, we love the supposed convenience gig brands bring us. Many of the true costs of these businesses have been externalized onto public infrastructure (and the poor), and civic patience is running out. Plus, venture and public finance markets are increasingly skeptical of business models that depend on strip mining the labor of increasingly querulous private contractors. A reckoning is due, and in 2020 we’ll see the collapse of one or more larger players in the field.
    8. Influencer marketing will fall out of favor. I’m not predicting an implosion here, but rather an industry wide pause as brands start to ask the questions consumers will also be pondering: who the fuck are these influencers and why are we paying them so much attention? A major piece of this — on the marketing side anyway — will be driven by a massive increase in influencer fraud. As with other fast growing digital marketing channels, where money pours in, fraud fast follows — nearly as fast as fawning New York Times articles, but I digress. 
    9. Information warfare becomes a national bogeyman. If we’ve learned anything since the 2016 election, it’s this: We’ve taken far too long to comprehend the extent to which bad actors have come to shape and divide our discourse. These past few years have slowly revealed the power of information warfare, and the combination of a national election with the compounding distrust of algorithm-driven platforms will mean that by mid year, “fake news” will yield to “information warfare” as the catchphrase describing what’s wrong with our national dialog. Deep fakes, sophisticated state-sponsored information operations, and good old fashioned political info ops will dominate the headlines in 2020. Unfortunately, the cynic in me thinks the electorate’s response will be to become more inured and distrustful, but there’s a chance a number of trusted media brands (both new and old) prosper as we all search for a common set of facts.
    10. Purpose takes center stage in business. 2019 was the year the leaders of industry declared a new purpose for the corporation — one that looks beyond profits for a true north that includes multiple stakeholders, not just shareholders. 2020 will be the year many companies will compete to prove that they are serious about that pledge. Reaction from Wall St. will be mixed, but I expect plenty of CEOs will feel emboldened to take the kind of socially minded actions that would have gotten them fired in previous eras. This is a good thing, and likely climate change will become the issue many companies will feel comfortable rallying behind. (I certainly hope so, but this isn’t supposed to be about what I wish for…)
    11. Apple and/or Amazon stumble. I have no proof as to why I think this might happen but…both these companies just feel ripe for some kind of major misstep or scandal. America loves a financial winner — and both Amazon and Apple have been runaway winners in the stock market for the past decade. Both have gotten away with some pretty bad shit along the way, especially when it comes to labor practices in their supply chain. And while neither of them are as vulnerable as Facebook or Google when it comes to the data privacy or free speech issues circling big tech, both Apple and Amazon have become emblematic of a certain kind of capitalism that feels fraught with downside risk in the near future. I can’t say what it is, but I feel like both these companies could catch one squarely on the jaw this coming year, and the post-mortems will all say they never saw it coming. 

    So there you have it — 11 predictions for the coming year. I was going to stop at 10, but that Apple/Amazon one just forced itself out — perhaps that’s me wishing again. We’ll see. Let me know your thoughts, and keep your cool out there. 2020 is going to be one hell of a year. 

     
  • feedwordpress 18:01:49 on 2019/01/02 Permalink
    Tags: , cannabis, , , , , , Joints After Midnight & Rants, , , , , , , ,   

    Predictions 2019: Stay Stoney, My Friends. 


    Warning: preg_match_all(): Compilation failed: invalid range in character class at offset 7 in /homepages/23/d339537987/htdocs/ec/wp-content/themes/p2/inc/mentions.php on line 77

    If predictions are like baseball, I’m bound to have a bad year in 2019, given how well things went the last time around. And given how my own interests, work life, and physical location have changed of late, I’m not entirely sure what might spring from this particular session at the keyboard.

    But as I’ve noted in previous versions of this post (all 15 of them are linked at the bottom), I do these predictions in something of a fugue state – I don’t prepare in advance. I just sit down, stare at a blank page, and start to write.

    So Happy New Year, and here we go.

    1/ Global warming gets really, really, really real. I don’t know how this isn’t the first thing on everyone’s mind already, with all the historic fires, hurricanes, floods, and other related climate catastrophes of 2018. But nature won’t relent in 2019, and we’ll endure something so devastating, right here in the US, that we won’t be able to ignore it anymore. I’m not happy about making this prediction, but it’ll likely take a super Sandy or a king-sized Katrina to slap some sense into America’s body politic. 2019 will be the year it happens.

    2/ Mark Zuckerberg resigns as Chairman of Facebook, and relinquishes his supermajority voting rights. Related, Sheryl Sandberg stays right where she is. I honestly don’t see any other way Facebook pulls out of its nosedive. I’ve written about this at length elsewhere, so I will just summarize: Facebook’s only salvation is through a new system of governance. And I mean that word liberally – new governance of how it manages data across its platform, new governance of how it works with communities, governments, and other key actors across its reach, and most fundamentally, new governance as to how it works as a corporate entity. It all starts with the Board asserting its proper role as the governors of the company. At present, the Board is fundamentally toothless.

    3/ Despite a ton of noise and smoke from DC, no significant federal legislation is signed around how data is managed in the United States. I  know I predicted just a few posts ago that 2019 will be the year the tech sector has to finally contend with Washington. And it will be…but in the end, nothing definitive will emerge, because we’ll all be utterly distracted by the Trump show (see below). Because of this, unhappily, we’ll end up governed by both GDPR and California’s homespun privacy law, neither of which actually force the kind of change we really need.

    4/ The Trump show gets cancelled. Last year, I said Trump would blow up, but not leave. This year, I’m with Fred, Trump’s in his final season. We all love watching a slow motion car wreck, but 2019 is the year most of us realize the car’s careening into a school bus full of our loved ones. Donald Trump, you’re fired.

    5/ Cannabis for the win. With Sessions gone and politicians of all stripes looking for an easy win, Congress will pass legislation legalizing cannabis. Huzzah!!!! Just in time, because…

    6/ China implodes, the world wobbles. Look, I’m utterly out of my depth here, but something just feels wrong with the whole China picture. Half the world’s experts are warning us that China’s fusion of capitalism and authoritarianism is already taking over the world, and the other half are clinging to the long-held notion that China’s approach to nation building is simply too fragile to withstand democratic capitalism’s demands for transparency. But I think there may be other reasons China’s reach will extend its grasp: It depends on global growth and optimistic debt markets. And both of those things will fail this year, exposing what is a marvelous but unsustainable experiment in managed markets. This is a long way of backing into a related prediction:

    7/ 2019 will be a terrible year for financial markets. This is the ultimate conventional wisdom amongst my colleagues in SF and NY, even though I’ve seen plenty of predictions that Wall St. will have a pretty good year. I have no particular insight as to why I feel this way, it’s mainly a gut call: Things have been too good, for too long. It’s time for a serious correction.

    8/ At least one major tech IPO is pulled, the rest disappoint as a class. Uber, Lyft, Slack, Pinterest et al are all expected this year. But it won’t be a good year to go public. Some will have no choice, but others may simply resize their businesses to focus on cash flow, so as to find a better window down the road.

    9/ New forms of journalistic media flourish. It’s well past time those of us in the media world take responsibility for the shit we make, and start to try significant new approaches to information delivery vehicles. We have been hostages to the toxic business models of engagement for engagement’s sake. We’ll continue to shake that off in various ways this year – with at least one new format taking off explosively. Will it have lasting power? That won’t be clear by year’s end. But the world is ready to embrace the new, and it’s our jobs to invest, invent, support, and experiment with how we inform ourselves through the media. Related, but not exactly the same…

    10/A new “social network” emerges by the end of the year. Likely based on messaging and encryption (a la Signal or Confide), the network will have many of the same features as the original Facebook, but will be based on a paid model. There’ll be some clever new angle – there always is – but in the end, it’s a way to manage your social life digitally. There are simply too many pissed off and guilt-ridden social media billionaires with the means to launch such a network – I mean, Insta’s Kevin Systrom, WhatsApp’s Jan and Brian, not to mention the legions of mere multi-millionaires who have bled out of Facebook’s battered body of late.

    So that’s it. On a personal note, I’ll be happily busy this year. Since moving to NY this past September, I’ve got several new projects in the works, some still under wraps, some already in process. NewCo and the Shift Forum will continue, but in reconstituted forms.  I’ll keep up with my writing as best I can; more likely than not most of it will focus the governance of data and how its effect our national dialog. Thanks, as always, for reading and for your emails, comments, and tweets. I read each of them and am inspired by all. May your 2019 bring fulfillment, peace, and gratitude.

    Previous predictions:

    Predictions 2018

    2018: How I Did

    Predictions 2017

    2017: How I Did

    Predictions 2016

    2016: How I Did

    Predictions 2015

    2015: How I Did

    Predictions 2014

    2014: How I Did

    Predictions 2013

    2013: How I Did

    Predictions 2012

    2012: How I Did

    Predictions 2011

    2011: How I Did

    Predictions 2010

    2010: How I Did

    2009 Predictions

    2009 How I Did

    2008 Predictions

    2008 How I Did

    2007 Predictions

    2007 How I Did

    2006 Predictions

    2006 How I Did

    2005 Predictions

    2005 How I Did

    2004 Predictions

    2004 How I Did

     
c
compose new post
j
next post/next comment
k
previous post/previous comment
r
reply
e
edit
o
show/hide comments
t
go to top
l
go to login
h
show/hide help
esc
cancel