Profit oriented: Since its foundation, Facebook’s business model has been similar to that of a media company, without taking the same responsibility. — Reuters
THE arm-wrestling in Australia, with Facebook and big tech taking on the government and much of civil society, crystallised a question of global concern: What is the purpose of a company that is based on the sharing of content which it neither pays for nor takes responsibility for, despite earning US$85.6bil (RM347tril) in 2020?
Although only a decade-and-a-half old, Facebook already seems out of step with new Environmental, Social and Governance (ESG) standards that the world demands from global companies. Instead, it seems focused entirely on turning in huge profits regardless of the cost to the democracies and societies it claims to serve.
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