Institute for Business in the Global Context

Where the World of Business Meets the World

Category: News (page 1 of 10)

One Misstep Too Many: Facebook has Egg on its Face Again, and This Time it Might Stick

Zuckerberg has confidently promised to fix Facebook, but it will be far from easy. The ultimate social network is a victim of its own success and eye-watering revenues. When Facebook’s 2 billion users around the planet log in every month and share or swipe past some slice of the human condition as offered up by friends, family and others, the users and their contexts are bound to vary widely. To get a sense of the spread of contexts that Facebook must straddle, consider the two most important markets for the company: India, which has the largest number of Facebook users and is among its fastest-growing markets; the home market of the US. Now, add Brazil and Indonesia as the next two markets behind these two dominant ones. To manage a social network spanning this much disparity of socio-political contexts and levels of digital trust would call for Zuckerberg to re-enroll at Harvard and get a degree in what I might call “digital anthropology.”

Read the full op-ed by Dean Chakravorti in The Indian Express

The Countries that Trust Facebook the Most are also the Most Vulnerable to its Mistakes

Whatever solutions the good folks at Facebook devise – or have thrust upon them by regulators and lawmakers – must work not just for the more recently outraged American or the already skeptical European user. The solutions must work for the world from where Facebook picked up its second billion users, and is looking to pick up its third.

Read the full piece from Dean Chakravorti in The Conversation

Bhaskar Chakravorti in Quartz – “How Facebook can really fix itself”

How Facebook Can Really Fix Itself

Company founder and CEO Mark Zuckerberg says he wants to win back users’ trust. But his company’s efforts so far have ignored the root causes of the problems they intend to fix, and even risk making matters worse. Specifically, they ignore the fact that personal interaction isn’t always meaningful or benign, leave out the needs of users in the developing world, and seem to compete with the company’s own business model.

Read the full piece from Dean Chakravorti in Quartz

The 4 Dimensions of Digital Trust, Charted Across 42 Countries

by Bhaskar Chakravorti, Ravi Shankar Chaturvedi, and Ajay Bhalla

Read the full piece in the Harvard Business Review

The year 2018 is barely underway and, already, digital trust initiatives have captured headlines. Facebook’s Mark Zuckerberg has said his platform will de-prioritize third-party publisher content to keep users focused on more “meaningful” posts from family and friends. Google has led off the new year by blocking websites that mask their country of origin from showing up on Google News. And the European Union’s upcoming General Data Protection Regulation (GDPR) will affect every organization around the world that handles personal data for EU residents. The regulations will also, no doubt, inform data protection laws and corporate trust-building strategies elsewhere.

Even China’s opaque behemoths have started the year with unprecedented acknowledgements of the need to address trust concerns: Tencent had to publicly deny that it collects user WeChat history after it was openly challenged; Alibaba’s Ant Financial apologized to users of its mobile-payment service for automatically enrolling them in its social-credit scoring service.

 

What these stories underscore is that our digital evolution and our productive use of new technologies rests on how well we can build digital trust. But is it possible to measure digital trust and compare it across countries? Are there countries where guaranteeing trust is a more urgent priority and will draw a larger share of trust-building resources and regulations? The Fletcher School at Tufts University and Mastercard have a launched a research initiative to address these questions by studying the state of digital trust across 42 countries. Here are some of our initial findings, drawn from the study, “Digital Planet 2017: How Competitiveness and Trust in Digital Economies Vary Across the World.”

Read the full piece in the Harvard Business Review

How Facebook could really fix itself

[Facebook] founder and CEO Mark Zuckerberg says he wants to win back users’ trust. But his company’s efforts so far have ignored the root causes of the problems they intend to fix, and even risk making matters worse. Specifically, they ignore the fact that personal interaction isn’t always meaningful or benign, leave out the needs of users in the developing world, and seem to compete with the company’s own business model.

Read the full piece from Dean Chakravorti in the Chicago Tribune

Three un-Davos men

None of these men are ideologues in the classic sense. They are the latest incarnations of Huntington’s culture warriors — they are masters of the culture of contradictions. Xi has revived his own form of Maoism, with unchallenged state control, now sauced up with dollops of market- and technology-infused pragmatism. Modi, for his part, embraces Hindutva and foreign leaders with equal vigour and is equally facile at following ancient texts and his WhatsApp feed to check on who has responded to his daily greetings. As for Trump, he is consistent only in playing to the base that brought him to power and to his own base instincts. He can also talk up America like a luxury condo he has developed for the exclusive use of global investors even as he sends strong signals that the condo is not open to the riff-raff, especially from certain continents or certain religions. These are the unDavos Men, who are consistent in their adherence to contradiction.

Read the full piece from Dean Chakravorti in The Indian Express

The Aadhaar Opportunity

In an age rife with digital innovation, India has made two meaningful contributions: The number “zero” and Aadhaar. Okay, I cheated a little bit with the first one, given its pre-digital age origins, but let’s not allow petty details to get in the way. Aadhaar is a monumental IT project and a monumental vision for inclusion. Aadhaar, as a concept, lays the very foundation of trust in the digital age. And it does so regardless of caste, Facebook status or creed, across a billion people. Unfortunately, this also means that Aadhaar is a treasure trove of personal data on a billion people; therein lurks a parallel potential for widespread mischief. A journalist writing for The Tribune suggests that, indeed, such mischief can be pulled off rather easily.

Read the full op-ed from Dean Chakravorti in The Indian Express

Trust in digital technology will be the internet’s next frontier, for 2018 and beyond

After decades of unbridled enthusiasm – bordering on addiction – about all things digital, the public may be losing trust in technology. Online information isn’t reliable, whether it appears in the form of news, search results or user reviews. Social media, in particular, is vulnerable to manipulation by hackers or foreign powers. Personal data isn’t necessarily private. And people are increasingly worried about automation and artificial intelligence taking humans’ jobs.

Read the full op-ed from Dean Chakravorti in the San Francisco Chronicle

There’s a Gender Gap in Internet Usage. Closing It Would Open Up Opportunities for Everyone

We have all heard about a gap when it comes to participation of women in the tech industry. Facebook, Google, and Apple have 17%, 19% and 23% women in their technology staffs, respectively. Multiple surveys, such as the “The Elephant in the Valley,” have documented systematic discrimination against women. And there’s a continuous barrage of news stories regarding the challenges that women face across a raft of iconic Silicon Valley firms. No more than a quarter of U.S. computing and mathematical jobs are held by women, consistent with the data that around 26% of the STEM workforce in developed countries is female. In developing countries, those differences are even greater.

But the gender gap problem doesn’t stop there. There’s also a shortage of women using some of the industry’s products. The International Telecommunications Union reports that the proportion of women using the internet is 12% lower than the proportion of men; this gender gap widens to 32.9% in the least developed countries. And even when a woman gets on a phone or is online, she might face additional hostility. A World Wide Web Foundation report says “women around the world report being bombarded by a culture of misogyny online, including aggressive, often sexualized hate speech, direct threats of violence, harassment, and revenge porn involving use of personal/private information for defamation.”

What this speaks to is an opportunity for the tech industry — both to address internal diversity issues and to address how companies think about the products they create around the world.

Read the full piece from Dean Chakravorti in Harvard Business Review

Trump Envoy Erik Prince Met with CEO of Russian Direct Investment Fund in Seychelles
by Erin Banco

“Why would you separate the management company?” asked Patrick Schena, an expert on sovereign wealth funds who teaches at the Fletcher School at Tufts University. “One of the reasons is to give the appearance of a degree of separation to show independence in decision-making.” In other words, he said, RDIF wanted to move away from a highly controversial sanctioned entity to appease potential business partners.

Read the full article in The Intercept

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