Africa’s green superpower
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 6 October 2021
⏱️ 10 minutes
🧾️ Download transcript
Summary
Read a transcript of this episode on FT.com
https://www.ft.com/content/eb1b2bc3-1edf-444b-ac44-8e3a79cd8887
Private equity firms are offering the highest premiums for listed companies in more than two decades, and the Facebook whistleblower told Congress on Tuesday the company repeatedly chose to maximise online engagement instead of minimising harm to users. Plus, the FT’s Africa editor, David Pilling, explains Gabon’s effort to reposition itself as a “green superpower” and gain recognition for preserving its tropical forests.
Private equity pays record premiums for public companies
https://www.ft.com/content/69c28c74-e957-4009-912a-aee1c452995d
Facebook chose to maximise engagement at users’ expense, whistleblower says
https://www.ft.com/content/41b657c8-d716-436b-a06d-19859f0f6ce4
Africa’s green superpower: why Gabon wants markets to help tackle climate change
https://www.ft.com/content/4f0579ac-409f-41d2-bf40-410d5a2ee46b
Behind the Money Podcast: The tiny fund that took on a US giant and won
https://www.ft.com/behind-the-money
The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley.
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Wednesday, October 6th. |
| 0:03.9 | And this is your FT News briefing. |
| 0:08.8 | Today we're going to take you to the Congo Basin Rainforest, |
| 0:12.3 | our Africa editor, David Pillingwood, there to find out about a radical plan to create value |
| 0:17.1 | from preserving the rainforest. The problem at the moment is that the forest is really valued at |
| 0:22.8 | zero. And when you value something at zero, the incentive is to chop it down and turn it into |
| 0:28.8 | something that is worth something. Plus private equity groups are snapping up publicly-owned |
| 0:34.2 | companies for more than a pretty penny. But first, a former Facebook employee was on Capitol |
| 0:39.4 | Hill yesterday to give U.S. lawmakers a damning inside look at the social media company. |
| 0:44.8 | I'm here today because I believe Facebook's products harm children, stoke division, |
| 0:49.4 | and weaken our democracy. I'm Mark Filipino and here's the news you need to start your day. |
| 0:55.2 | Facebook whistleblower Francis Hogan was in Washington yesterday and she told the U.S. |
| 1:03.1 | Senators that the social media company repeatedly chose to maximize online engagement |
| 1:08.5 | instead of minimizing harm to users. The FT's Kieran Stacey said Hogan had powerful specifics |
| 1:14.4 | to back up her point. She described how a bunch of Facebook employees had come to Mark Zuckerberg |
| 1:21.8 | to suggest that the company might want to tone down some of its algorithms so that in her words, |
| 1:28.2 | the platform became less twitchy. It became less likely to promote content heavily because people |
| 1:33.8 | were interacting with it. And they said, look, we don't have to do this everywhere. We just want to do |
| 1:37.4 | it in certain countries where there's a real risk of violence. I think she was mentioning at the time, |
| 1:42.3 | Myanmar. And she used that as an example of a broader theme, which is that whenever Mark Zuckerberg |
| 1:48.7 | and Facebook in general were given the choice, do you want to tone down the virality of what |
| 1:53.3 | happens on your platforms? Or do you want to keep everything tuned up to the max and thereby |
... |
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