Spotlight — How might a long-term stock market transform tech?

Your Undivided Attention

Center for Humane Technology

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4.8 • 1.9K Ratings

🗓️ 25 August 2022

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Social media companies are stuck in classic multipolar traps. They must compete for our attention, so that when TikTok introduces an even-more addictive feature, Facebook and Twitter have to mimic it in order to keep up, sending us all on a race to the bottom of our brainstems. One experiment in enabling companies to transcend multipolar traps is the Long Term Stock Exchange — a U.S. national securities exchange serving companies and investors who share a long-term vision. This week on Your Undivided Attention, we’re airing ZigZag’s conversation with Long Term Stock Exchange founder, Eric Ries.

Transcript

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0:00.0	So often, if you're a company that's focused on the short term, you create harm unintentionally
0:07.0	in the long term.
0:08.0	But if you try to be a conscious company that's oriented for the long term, you just lose
0:13.0	to the companies that optimize for the short term.
0:16.0	Think about social media.
0:18.0	If I'm a social media company and I want to be less addictive and optimized for the long term,
0:23.0	well, I'm just going to lose to the companies that don't do that and go for the most addictive
0:27.0	next video in the short term.
0:29.0	If I realize that social media is driving polarization and I don't want to optimize for the
0:34.0	most engaging personalized news in the short term, well, I'll just lose to the companies
0:39.0	that are optimizing for the most engaging personalized news.
0:42.0	So the problem of if I don't do it, the other guy will, is everywhere.
0:48.0	We see it behind what's going wrong in all the systems that are driving harms across
0:52.0	the environment, public health, salt sugar fat, social media, the race to the bottom of
0:57.0	the brainstem, and we call these problems a multi-polar trap because it's not up to individual
1:03.0	companies to do the right thing.
1:05.0	And if you ask CEOs, what can we do to change this?
1:08.0	They'll often say, well, this is just gravity.
1:10.0	You can't change gravity.
1:12.0	But our guest, Eric Rees, believes you can change it.
1:17.0	Today, on your undivided attention, we're airing a conversation with Eric Rees
1:21.0	from the long term Stock Exchange.
	...

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