Gina joined Breakingviews in 2016 from the Financial Times, where she was the enforcement and regulatory correspondent in Washington, most recently focused on white-collar crime and cyber security. Before that, Gina was the corporate reporter for Quartz and spent seven years at the Wall Street Journal in New York, Baghdad and Detroit, covering M&A, war and cars. She also has written a book about the Khmer Rouge, trained journalists in Iraq and written from her native Seoul.
The documentary “The Great Hack” shows how Cambridge Analytica targeted voters in the 2016 U.S. election and Brexit referendum, partly using Facebook. It’s chilling but ignores how economic forces swayed those polls. Focusing on tech’s threat to democracy oversimplifies politics.
U.S. lawmakers failed to disrupt Silicon Valley executives in hearings about antitrust concerns and Facebook’s crypto coin. Amazon faced some heat about third-party sellers but queries about MySpace and iCloud ads were distractions. It provides little incentive to change.
Facebook can shrug off a $5 bln fine over privacy but the U.S. Treasury is questioning its crypto-coin plan. It also faces, with others, an antitrust grilling in Congress. Big tech doesn’t want a Wall St-like straitjacket, but growth will suffer without clear rules of the road.