Hugh Macleod is not part of the Facebook-hating mob (or is it a clique?) but he does like this critical Guardian piece on the politics behind the company.
Investigative journalist, Tom Hodgkinson, says he hates Facebook in his lead. He then delves into a deep background check on the money men behind the soc net.
Although the project was initially conceived by media cover star Mark Zuckerberg, the real face behind Facebook is the 40-year-old Silicon Valley venture capitalist and futurist philosopher Peter Thiel. There are only three board members on Facebook, and they are Thiel, Zuckerberg and a third investor called Jim Breyer from a venture capital firm called Accel Partners. Thiel invested $500,000 in Facebook when Harvard students Zuckerberg, Chris Hughes and Dustin Moskowitz went to meet him in San Francisco in June 2004, soon after they had launched the site. Thiel now reportedly owns 7% of Facebook, which, at Facebook’s current valuation of $15bn, would be worth more than $1bn.
Thiel is widely regarded in Silicon Valley and in the US venture capital scene as a libertarian genius. He is the co-founder and CEO of the virtual banking system PayPal, which he sold to Ebay for $1.5bn, taking $55m for himself. He also runs a £3bn hedge fund called Clarium Capital Management and a venture capital fund called Founders Fund. Bloomberg Markets magazine recently called him “one of the most successful hedge fund managers in the country”.
But Thiel is more than just a clever and avaricious capitalist. He is a futurist philosopher and neocon activist. A philosophy graduate from Stanford, in 1998 he co-wrote a book called The Diversity Myth, which is a detailed attack on liberalism and the multiculturalist ideology that dominated Stanford. He claimed that the “multiculture” led to a lessening of individual freedoms. While a student at Stanford, Thiel founded a rightwing journal, still up and running, called The Stanford Review – motto: Fiat Lux (“Let there be light”). Thiel is a member of TheVanguard.Org, an internet-based neoconservative pressure group that was set up to attack MoveOn.org, a liberal pressure group that works on the web. Thiel calls himself “way libertarian”.
Hodgkinson also draws a line from Facebook to the CIA.
The third board member of Facebook is Jim Breyer. He is a partner in the venture capital firm Accel Partners, who put $12.7m into Facebook in April 2005. On the board of such US giants as Wal-Mart and Marvel Entertainment, he is also a former chairman of the National Venture Capital Association (NVCA). Now these are the people who are really making things happen in America, because they invest in the new young talent, the Zuckerbergs and the like. Facebook’s most recent round of funding was led by a company called Greylock Venture Capital, who put in the sum of $27.5m. One of Greylock’s senior partners is called Howard Cox, another former chairman of the NVCA, who is also on the board of In-Q-Tel. What’s In-Q-Tel? Well, believe it or not (and check out their website), this is the venture-capital wing of the CIA.
When you consider that the other soc net heavyweight is owned by Rupe, it makes one pause. I guess as long as you remind yourself that the CIA could be watching before you post, it’s still all good. Right?