Big Tech’s Brutal Year
WSJ Opinion: Free Expression
Gerard Baker, Editor at Large, The Wall Street Journal
4.6 • 591 Ratings
🗓️ 19 December 2022
⏱️ 26 minutes
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| 0:00.0 | From the opinion pages of the Wall Street Journal, this is Free Expression with Jerry Baker. |
| 0:08.4 | Welcome to Free Expression with me, Jerry Baker from the Wall Street Journal editorial page. |
| 0:12.8 | Delighted you're joining us. If you're not already a subscriber, please do subscribe wherever you get your podcasts. |
| 0:18.0 | This week, Twitter, cryptocurrency, Facebook and more. It's been a turbulent year for the tech |
| 0:24.1 | sector. Stock prices of the Silicon Valley giants like Facebook Parent Meta, along with Amazon and Google, |
| 0:30.4 | are down by between a third and two-thirds this year, with business conditions deteriorating. |
| 0:35.4 | They're making deep job cuts for the first time in their young history, And they continue to face questions about their outsized role in the modern American |
| 0:41.9 | economy, with demands from many sides for tougher regulation. Then there's cryptocurrency. |
| 0:46.8 | The spectacular collapse of FTX, a major crypto trading platform last month, and the prosecution |
| 0:51.8 | of its former CEO Sam Bankman Fre-Fried, on fraud charges, |
| 0:56.4 | have prompted concerns about the health and future of the whole business of digital currency. |
| 1:01.6 | Is it all just a decentralized Ponzi scheme? Some think it is. Or is it actually a valid |
| 1:06.7 | alternative to central bank-controlled money? And then, of course, there's Twitter. Acquired by |
| 1:12.8 | Elon Musk in October, the company that's one of the most influential platforms in the world for |
| 1:16.5 | the dissemination of news, information and commentary, has been the focus of extraordinary attention |
| 1:20.8 | ever since. Musk has been steadily releasing details of how the platform handled, censored, |
| 1:26.9 | and sometimes outright blocked |
| 1:28.2 | content and individuals before he acquired it. The Twitter files, as they're called, have revealed |
| 1:33.0 | troubling details about the company's approach to so-called misinformation, which often in the |
| 1:37.1 | past seems to encompass largely conservative views, and the latest revelations have shown |
| 1:41.4 | a close relationship with government law enforcement. |
| 1:49.4 | Meanwhile, Musk himself has sparked outrage among the major media by himself banning some users for what he calls violations. |
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