Andrew Keen is a author of 3 books: Cult of a Amateur, Digital Vertigo and The Internet Is Not The Answer. He produces Futurecast, and is a horde of Keen On.
In Apr 2004, a integrate of Harvard undergraduate roommates took a travel in a pouring sleet around a university campus. They were dual of a 3 co-founders of an internet association that had launched a integrate of months progressing — a amicable network start-up that we now know as Facebook.
One of a immature men, a story tyro called Chris Hughes, was creation his box to a other, a mechanism scientist named Mark Zuckerberg, about how most he should possess of a new company. Hughes was perfectionist a 10 percent equity interest in a amicable network.
But as they stood on a stairs of a Widener library and argued, a drenched Hughes “caved”. Just give me what we want, he told his equally soaked roommate (neither had umbrellas). Later he detected that Zuckerberg had “only” given him dual percent of a new association — a interest that currently would be value over 10 billion dollars. It was, Hughes confesses, a “spectacular disaster of negotiation.”
This story, and most else about Hughes’ noted life, is suggested in his new book, Fair Shot: Rethinking Inequality and How We Earn. It’s a story of a American dream – how a child from a operative category North Carolina family went to Harvard, co-founded Facebook with Zuckerberg and their third roommate Dustin Moskovitz, and — in annoy of his botched equity negotiations on a Harvard campus — done 5 hundred million dollars.
But it’s also a book about what Hughes describes as “the dismantling of a American dream.” The winner-take-all inlet of Facebook, Chris Hughes believes, exemplifies what’s left wrong with American capitalism — where, he argues, inequality is has “reached levels not seen given 1929” and where “most Americans can't find $400 in a box of an emergency” while “I was means to make half a billion dollars for 3 years of work.” This unfortunate disparity, a Facebook co-founder believes, captures what has left “profoundly wrong” both with “our economy” and “our country”.
In Chris Hughes’ mind, there’s a chilling balance between a specters now opposed America and Facebook. He says that his aged roommate Mark Zuckerberg is confronting what Hughes — who, as a child, frequently attended a nation church called New Jerusalem — calls a “come-to-Jesus moment”.
Facebook, he says, now has a shortcoming to negate a feign news and other erosive online army undermining American democracy. Zuckerberg and Facebook, he argues, now need to reinvent themselves. And a same is true, he argues in Fair Shot, about America.
One percenters like himself, Hughes insists, have a dignified shortcoming to demeanour after a rest of a country. That’s because he is job for vital new legislation – such as what he calls a “guaranteed income for operative people” – which will save a American dream. So both America and Facebook have concurrently arrived as their come-to-Jesus moments. Let’s wish that they both do improved than Hughes’ possess rather slimy opening on a stairs of a Widener library behind in Apr 2004.
Featured Image: Ramin Talaie/Corbis around Getty Images