Later, he imagined the Brexit vote must be due to misleading Facebook posts (as if British tabloids and TV were silent). McNamee supposedly became alarmed while perusing “Bay Area for Bernie” on Facebook and finding suspicious memes critical of Hillary. Back then, McNamee and other investors had facetime with Zuckerberg. That was early, but two years after Microsoft made a larger investment. Such investors are not necessarily disinterested observers, much less policy experts.īetween November 2009 and June 2010 Elevation Partners invested $210 million for 1% of Facebook. Another is married to the sister of Facebook’s COO. Other partners included two former executives from Apple and one from Yahoo. McNamee suggests his “history with the company made me a credible voice.” From 2005 to 2015, McNamee was one of a half dozen managing directors of Elevation Partners, an $1.9 billion private equity firm that bought and sold shares in eight companies, including such oldies as Forbes and Palm. Facebook “has a huge impact on politics and social welfare,” he claims, and “has done things that are truly horrible.” Facebook, he says, is “ terrible for America.” In a recent Time magazine article, Roger McNamee offers an agitated criticism of Facebook, adapted from his book Zucked: Waking Up to the Facebook Catastrophe.
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