BLOOMBERG TECHNOLOGY: Investors Urge Change in Facebook’s Board Amid Antitrust Concerns

Live Interview with Emily Chang, October 21, 2020

“It’s no surprise we’re here right now. I think the unfortunate thing is that investors, for years, have been flagging these issues and have some really insightful concerns that just haven’t been addressed. When you see companies fail to act on their own and really concentrate power you’re going to see this type of regulatory risk.” Natasha Lamb, Managing Partner and Co-Founder of Arjuna Capital says in response to the current Department of Justice lawsuit against Google and antitrust concerns. Lamb went on to say, “This is about putting users at risk, and therefore putting investors at risk. When you fail to address this racism, sexism, hate speech, disinformation and the incitement of violence on your platforms you’re really setting yourself up for failure. So we think a governance change at the board level, and then broader governance change, is what’s needed.”

“Today we announced that we’re moving forward and filing proposals with not just Facebook but with Twitter and Alphabet (which owns YouTube and Google). We’re doing that because we see that at this point, it’s clear, these companies are flying blind on civil and human rights issues.”

Watch the interview here beginning at minute 23:00.

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