Hello and welcome back to Startups Weekly, a newsletter published every Saturday that dives into the week’s noteworthy venture capital deals, funds and trends. Before I dive into this week’s topic, let’s catch up a bit. Last week, I wrote about Peloton’s upcoming initial public offering. Before that, I noted the proliferation of billion-dollar companies.
Now I know this newsletter is supposed to be about startups, but we’re shifting our focus to Big Tech today. Bear with me.
I spent the better part of the week in Scottsdale, Ariz. where temperatures outside soared past 100 and temperatures inside were icy cold. Both because Recode + Vox cranked the AC to ungodly levels but also because every panel, it seemed, veered into a debate around the “techlash” and antitrust.
If you aren’t familiar, the Financial Times defines the techlash as “the growing public animosity toward large Silicon Valley platform technology companies.” Code Conference has in the past been an event that underscores innovation in tech. This year, amid growing tensions between tech’s business practices and the greater good, things felt a little different.
The conference began with Peter Kafka grilling YouTube’s CEO Susan Wojcicki. Unfortunately for her, CodeCon took place the week after an enormous controversy struck YouTube. You can read about that here. Wojcicki wasn’t up to the task of addressing the scandal, at least not honestly. She apologized to the LGBTQ community for YouTube’s actions but was unable to confront the larger issue at hand: YouTube has failed to take necessary action toward eliminating hate speech on its platform, much like other social media hubs.
From there, The Verge’s Casey Newton asked Instagram head Adam Mosseri and Facebook vice president of consumer hardware Andrew Bosworth point blank if Facebook should be broken up. Unsurprisingly, neither of the two men are fond of the idea.
“Personally, if we split [Facebook and Instagram] it might make my life easier but I think it’s a terrible idea,” Mosseri, who was named CEO of Instagram last fall, said. “If you split us up, it would just make it exponentially more difficult to keep people safe. There are more people working on safety and integrity issues at Facebook than all the people that work at Instagram.”
Bosworth, who manages VR projects at Facebook, had this to say: “You take Instagram and Facebook apart, you have the same attack surfaces. They now aren’t able to share and combine data … So this isn’t circular logic. This is an economy of scale.”
Wojcicki, when asked whether YouTube should separate from Google, had a less nuanced and frankly shockingly ill-prepared response:
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