The recent revelations of CNN’s Jeffrey Zucker and his cozy pro wrestling-style relationship with Donald Trump are the same as those with Facebook's (FB) Mark Zuckerberg and his billions of users. For when it comes to their businesses both know that enragement leads to engagement and stoking the partisan fires leads to big bucks via more eyeballs and, therefore, more advertising dollars both directly and through surveillance capitalism.
As media channels, however, the socioeconomic impacts of their thirst for money and power (aided and abetted by many an institutional investors' quest for same) transcend their individual businesses for what happens on their platforms impact society and businesses in ways other industries do not.
So, when you hear pious statements about freedom of speech and the first amendment never forget that in our neoliberal economic environment serving the greater good is not the priority. Money and power are. Darwinism rules!!
A word of advice: Don’t be a sucker for a Zucker(berg).
Chief Markets Strategist, Stuyvesant Capital Management
Contributor's Links:
Stuyvesant Capital Management
Don’t Be A Zucker(berg)
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