Zuckerberg defends politician ads that will be 0.5% of 2020 revenue – TechCrunch

As Jack Dorsey announced his company Twitter would drop all political ads, Facebook CEO Zuckerberg doubled-down on his policy of refusing to fact check politicians’ ads. “At times of social tension there has often been an urge to pull back on free expression . . . We will be best served over the long term by resisting this urge and defending free expression.”

Still, Zuckerberg failed to delineate between freedom of expression, and freedom of paid amplification of that expression which inherently favors the rich.

During today’s Q3 2019 earnings call where Facebook beat expectations and grew monthly users 2% to 2.45 billion, Zuckerberg spent his time defending the social network’s lenient political ad policy. You can read his full prepared statement here.

One clear objective was to dispel the idea that Facebook was motivated by greed to keep these ads. Zuckerberg explained “We estimate these ads from politicians will be less than 0.5% of our revenue next year.” For reference, Facebook earned $66 billion in the 12 months ending Q3 2019, so Facebook might earn around $330 million to $400 million in political ads next year. [Update: It wasn’t clear if issue ads and PAC ads were counted in Facebook’s 0.5% figure, but now the company says that number is just for ads run directly by politicians.]

Zuckerberg also said that given Facebook removed 50 million hours per day of viral video watching from its platform to support well-being which hurt ad viewership and the company’s share price, Facebook clearly doesn’t act solely in pursuit of profit.

Facebook’s CEO also tried to bat down the theory that Facebook is allowing misinformation in political ads to cater to conservatives or avoid calls of bias from them. “Some people say that this is just all a cynical political calculation and that we’re acting in a way that we don’t really believe because we’re just trying to appease conservatives” he said, responding that “frankly, if our goal was that we’re trying to make either side happy then we’re not doing a very good job because I’m pretty sure everyone is frustrated.” 

Instead of banning political ads, Zuckerberg voiced support for increasing transparency about how ads look, how much is spent on them, and where they’re run. “I believe that the better approach is to work to increase transparency. Ads on Facebook are already more transparent than anywhere else. We have a political ads archive so anyone can scrutinize every ad that’s run.” 

He mentioned that political ads are run by “Google, YouTube, and most internet platforms”, seeming to stumble for a second as he was likely prepared to cite Twitter too until it announced it would drop all political ads an hour earlier. He omitted that Pinterest and TikTok have also banned political ads.

It doesn’t help that hundreds of Facebook’s own employees have called on their CEO to change the policy. He concluded that no one could accuse Facebook of not deeply thinking through the question and its downstream ramifications. Zuckerberg did leave himself an out if he chooses to change the policy, though. “I’ve considered whether we should not [sell political ads] in the past, and I’ll continue to do so.”

Dorsey had tweeted that “We’ve made the decision to stop all political advertising on Twitter globally. We believe political message reach should be earned, not bought.” Democrat Representative Alexandria Ocasio-Cortez expressed support for Twitter’s move while Trump campaign manager Brad Parscale called it “a very dumb decision”

Twitter’s CEO took some clear swipes at Zuckerberg, countering his common arguments for allowing misinformation in politician’s ads. “Some might argue our actions today could favor incumbents. But we have witnessed many social movements reach massive scale without any political advertising. I trust this will only grow.” Given President Trump had outspent all Democratic candidates on Facebook ads as of March of this year, it’s clear that deep-pocketed incumbents could benefit from Facebook’s policy.

Trump continues to massively outspend Democratic rivals on Facebook ads. Via NYT

Miming Facebook’s position, Dorsey tweeted “It‘s not credible for us to say: ‘We’re working hard to stop people from gaming our systems to spread misleading info, buuut if someone pays us to target and force people to see their political ad…well…they can say whatever they want!”

Twitter doesn’t earn much from political ads, citing only $3 million in revenue from the 2018 mid-term elections, or roughly 0.1% of its $3 billion in total 2018 revenue. That means there will be no major windfall for Facebook from Twitter dropping political ads. But now all eyes will be on Facebook and Google/YouTube. If Sundar Pichai and Susan Wojcicki move in line with Dorsey, it could make Zuckerberg even more vulnerable to criticism.

$330 million might not be a big incentive for Facebook or Zuckerberg, but it still sounds like a lot of money to earn from ads that potentially lie to voters. I respect Facebook’s lenient policy when it comes to speech organically posted to users, organizations, or politicians’ own accounts. But relying on the candidates, press, and public to police speech is dangerously idealistic. We’ve seen how candidates will do anything to win, partisan press will ignore the truth to support their team, and the public aren’t educated or engaged enough to consistently understand what’s false.

Zuckerberg greatest mistakes have come from overestimating humanity. Unfortunately, not everyone wants to bring the world closer together. Without safeguards, Facebook’s tools can help tear it apart. It’s time for Facebook and Zuckerberg to recognize the difference between free expression and paid expression.

So why not continue accepting ads while trying to stamp out misinformation? He argued that the company “needs to focus our efforts on the root problems, without the additional burden and complexity taking money brings.”

A blanket policy could also help Twitter avoid the headache and controversy of making these determinations of truthfulness on a case-by-case basis.

This comes after Facebook, in particular, has faced heavy criticism around its refusal to fact-check political advertising (even as it took steps to fight election-related misinformation elsewhere), withu00a0Facebook employees writing an open letteru00a0objecting to the company’s stance.

At the same time, one of the ads that prompted the recent controversy u2014 in which the Trump campaign promoted a conspiracy theory about Joe Biden u2014 also ran on YouTube and Twitteru00a0(and on some TV networks, although CNN refused to air it).

So even though the discussion has focused on Facebook, the broader questions of permissiveness and responsibility are ones that all the major internet platforms have to face.

Over the summer, in fact, Twitter said it would start blocking state-run media outlets from running ads on its platform after it identified an operation to u201csow political discordu201d around the protests in Hong Kong, whichu00a0involved hundreds of accounts linked to the Chinese government.

The idea that Facebook should just ban all political ads is a solution that’s been floated by a number of pundits, including our own Josh Constine. Before today, that might have seemed like an extreme or unrealistic step. Suddenly, it looks much more possible u2014 or at least like Mark Zuckerberg will have to keep answering questions about this for a while.

Dorsey didn’t mention Facebook by name in his tweets, but he seemed to allude to the company’s position when he wrote, “For instance, itu2018s not credible for us to say: ‘Weu2019re working hard to stop people from gaming our systems to spread misleading info, buuut if someone pays us to target and force people to see their political adu2026well…they can say whatever they want! ud83dude09'”

It’s also interesting that Twitter chose to announce this just as Facebook released its latest earnings report.

Dorsey also acknowledged that Twitter is “a small part of a much larger political advertising ecosystem,” but he said, “We have witnessed many social movements reach massive scale without any political advertising. I trust this will only grow.”

In a statement, eMarketer senior analyst Jasmine Enberg said the move is “in stark contrast to Facebook,” but also noted “itu2019s likely that political advertising doesnu2019t make up a critical part of Twitteru2019s core business.”

CEO Jack Dorsey just announced, via tweet, that Twitter will be banning all political advertising u2014 albeit with “a few exceptions” like voter registration. “We believe political message reach should be earned, not bought,” Dorsey said. While it’s not totally clear how broad those exceptions will be, it sounds like the ban will apply to […]

Anthony Ha is a senior writer at TechCrunch, where he covers media and advertising and co-hosts the Original Content podcast. Previously, he worked as a tech writer at Adweek, a senior editor at the tech blog VentureBeat, and a local government reporter at the Hollister Free Lance. He lives in New York City.

Anthony Ha is a senior writer at TechCrunch, where he covers media and advertising and co-hosts the Original Content podcast. Previously, he worked as a tech writer at Adweek, a senior editor at the tech blog VentureBeat, and a local government reporter at the Hollister Free Lance. He lives in New York City.

WASHINGTON, DC – SEPTEMBER 5: Twitter chief executive officer Jack Dorsey testifies during a House Committee on Energy and Commerce hearing about Twitter’s transparency and accountability, on Capitol Hill, September 5, 2018 in Washington, DC. Earlier in the day, Dorsey faced questions from the Senate Intelligence Committee about how foreign operatives use their platforms in attempts to influence and manipulate public opinion. (Photo by Drew Angerer/Getty Images)

If your budget simply canu2019t manage a line item for a ticket to Disrupt Berlin 2019, we have exciting news for you. Volunteer for our work-exchange program and weu2019ll give you a free Innovator pass good for both days of the show (11-12 December). We have a limited number of volunteer positions, and applications close Thursday, 31 October.

Donu2019t wait u2014 apply to our volunteer work-exchange and attend Disrupt Berlin for free.

It takes a lot of hands and a lot of work to produce a world-class tech event, and youu2019ll have a front-row seat to how it all gets done. Youu2019ll also be a big part of making Disrupt an outstanding experience for all attendees.

We might ask you to wrangle speakers, register attendees, scan tickets, stuff goodie bags, assist with other marketing activities, direct attendees, place signage or something else entirely. Youu2019ll work hard, but youu2019ll also have plenty of time to enjoy that Innovator pass access.

Ready for the fine print? Hereu2019s what you need to know. The Disrupt Berlin volunteer dates are 10-12 December. To be considered, all volunteers must:

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• Be at least 18 years old
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• Submit an application by Thursday, 31 October
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• Attend a mandatory orientation training on Tuesday, 10 December at Arena Berlin
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• Be available for a total of 10 hours over the course of all three days; shifts range between 2 to 5 hours and may start as early as 6 a.m. or end as late as 11 p.m.
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• Provide your own travel, lodging and meals
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Weu2019ll assign volunteer schedules two-three weeks before the event, and weu2019ll notify you u2014 whether we accept your application or not u2014 by Wednesday, 6 November.

We keep dangling the free Innovator pass, and for good reason. With it, volunteers have access to the full Disrupt agenda: all stages u2014 including the Startup Battlefield competition u2014 exclusive video content access after the event ends, interactive workshops, more than 400 startups and sponsors in Startup Alley, networking events, the full attendee list via Disrupt Mobile App and CrunchMatch, the attendee networking platform.

As a volunteer at Disrupt Berlin 2019, youu2019ll see everything that goes into producing a large-scale tech event, meet great people and still have time to explore and network. Applications close on 31 October, so apply to volunteer today!

Is your company interested in sponsoring or exhibiting at Disrupt Berlin 2019? Contact our sponsorship sales team byu00a0filling out this form.

If your budget simply canu2019t manage a line item for a ticket to Disrupt Berlin 2019, we have exciting news for you. Volunteer for our work-exchange program and weu2019ll give you a free Innovator pass good for both days of the show (11-12 December). We have a limited number of volunteer positions, and applications close […]

Leslie currently works as the Director of Events at TechCrunch and Engadget.

Previously at TechCrunch, Leslie was Event Partnerships Manager, working on the TechCrunch Disrupt Hackathon and Conference as well as various Engadget events. Prior to that, she worked at Investors Title Insurance Company as a Marketing Manager, TechTarget as a Campaign Manager of National Accounts and Marketing Programs Manager.

Leslie currently works as the Director of Events at TechCrunch and Engadget.

Previously at TechCrunch, Leslie was Event Partnerships Manager, working on the TechCrunch Disrupt Hackathon and Conference as well as various Engadget events. Prior to that, she worked at Investors Title Insurance Company as a Marketing Manager, TechTarget as a Campaign Manager of National Accounts and Marketing Programs Manager.

We’ve aggregated the worldu2019s best growth marketers into one community. Twice a month, we ask them to share their most effective growth tactics, and we compile them into this Growth Report.

This is how youu2019re going stay up-to-date on growth marketing tactics u2014 with advice you canu2019t get elsewhere.

Our community consists of 600 startup founders paired with VPu2019s of growth from later-stage companies. We have 300 YC founders plus senior marketers from companies including Medium, Docker, Invision, Intuit, Pinterest, Discord, Webflow, Lambda School, Perfect Keto, Typeform, Modern Fertility, Segment, Udemy, Puma, Cameo and Ritual.

You can participate in our community by joining Demand Curveu2019s marketing webinars, Slack group, or marketing training program. See past growth reports here and here.

Without further ado, onto the advice.

What are some new, advanced SEO strategies?

Our community ran an SEO masterclass in which we discussed Googleu2019s algorithm updates and shared advanced practices for writing blog content in a data-driven manner.

Tactics for turning blog visitors into leads

Based on insights from Nat Eliason from Growth Machine.

SEO traffic can sometimes be a vanity metric if youu2019re not converting it into lead flow. Here are three ways to convert blog visitors into leads:

n
1. Prompt blog readers with quizzes to help them identify the product/plan that’s best suited for them. Then require their email address to see results. Follow up with drip emails.
n
2. Create u201cBuyeru2019s Guidesu201d u2014 downloadable PDFs with nice visuals that help readers figure out how to accomplish their goals (e.g. u201cpaleo cooking starter kit.u201d) Again, require an email for them to download the complete guide.
n
3. Pixel your blog visitors and retarget them with Facebook ads. Have the ads send visitors to landing pages that match whichever blog content category initially drew them to the site.
n

How to (re-)target business customers with Facebook ads

Based on insights from Nima Gardideh of Pearmill and Julian Shapiro of Demand Curve.

Most people use their personal email address on their Facebook/Instagram account. So if you’re collecting business emails during your user onboarding process, Facebook can have a hard time matching those emails to the corresponding Facebook profiles when creating custom targeting lists.u00a0

u00a0Here are a few tricks around this:

Weu2019ve aggregated theu00a0worldu2019s best growth marketers into one community. Twice a month, we ask them to share their most effective growth tactics, and we compile them into thisu00a0Growth Report.

Young boy looking through binoculars outside

We’ve aggregated the worldu2019s best growth marketers into one community. Twice a month, we ask them to share their most effective growth tactics, and we compile them into this Growth Report.

This is how youu2019re going stay up-to-date on growth marketing tactics u2014 with advice you canu2019t get elsewhere.

Our community consists of 600 startup founders paired with VPu2019s of growth from later-stage companies. We have 300 YC founders plus senior marketers from companies including Medium, Docker, Invision, Intuit, Pinterest, Discord, Webflow, Lambda School, Perfect Keto, Typeform, Modern Fertility, Segment, Udemy, Puma, Cameo and Ritual.

You can participate in our community by joining Demand Curveu2019s marketing webinars, Slack group, or marketing training program. See past growth reports here and here.

Without further ado, onto the advice.

What are some new, advanced SEO strategies?

Our community ran an SEO masterclass in which we discussed Googleu2019s algorithm updates and shared advanced practices for writing blog content in a data-driven manner.

Tactics for turning blog visitors into leads

Based on insights from Nat Eliason from Growth Machine.

SEO traffic can sometimes be a vanity metric if youu2019re not converting it into lead flow. Here are three ways to convert blog visitors into leads:

n
1. Prompt blog readers with quizzes to help them identify the product/plan that’s best suited for them. Then require their email address to see results. Follow up with drip emails.
n
2. Create u201cBuyeru2019s Guidesu201d u2014 downloadable PDFs with nice visuals that help readers figure out how to accomplish their goals (e.g. u201cpaleo cooking starter kit.u201d) Again, require an email for them to download the complete guide.
n
3. Pixel your blog visitors and retarget them with Facebook ads. Have the ads send visitors to landing pages that match whichever blog content category initially drew them to the site.
n

How to (re-)target business customers with Facebook ads

Based on insights from Nima Gardideh of Pearmill and Julian Shapiro of Demand Curve.

Most people use their personal email address on their Facebook/Instagram account. So if you’re collecting business emails during your user onboarding process, Facebook can have a hard time matching those emails to the corresponding Facebook profiles when creating custom targeting lists.u00a0

u00a0Here are a few tricks around this:

Weu2019ve aggregated theu00a0worldu2019s best growth marketers into one community. Twice a month, we ask them to share their most effective growth tactics, and we compile them into thisu00a0Growth Report.

Young boy looking through binoculars outside

Immigration advocates are rightly fretting over the Trump administrationu2019s new health insurance mandate and efforts to dismantle the asylum system. But away from the spotlight, another crisis is quietly brewing that could affect virtually every foreign-born STEM (science, technology, engineering, and math) student and worker.

The problem lies in Employment Authorization Documents (EADs). These work permits, issued by U.S. Citizenship and Immigration Services (USCIS), authorize international students and green card applicants to take jobs. Requests for EADs, known as I-765s, now account for more than a quarter of all forms USCIS receives. But technological hiccups, staffing shortages, and the pressures of conforming to new immigration policies mean the agency is taking longer and longer to process them. Thatu2019s leaving tens of thousands of students and skilled workers unable to work and hundreds of thousands of tech positions unfilled for months, or even years.u00a0

The EAD crisis has been simmering for years but reached a head in early 2017 when officials scrapped a rule requiring USCIS to process I-765s within 90 days. Along with an influx of new EAD requests from DACA and TPS recipients, thatu2019s led to spiraling delays. In 2015, 23 percent of EAD applications took more than three months to process; by 2018, it had doubled to 46 percent. The average processing time today for non-DACA-related EADs is almost five months, with over a third of applications taking significantly longer u2014 last year, over 118,000 applications took more than nine months to process.u00a0

That squares with what weu2019re seeing at Boundless: our internal data show that average EAD wait times have climbed above five months, with many customers waiting eight months or more for work permits. Weu2019re also seeing an enormous disparity among processing facilities, with some USCIS service centers far more clogged than others. At the time of writing, if your I-765 is processed in Texas, for example, you could get your EAD within three weeks; if in Vermont, you could wait more than 17 months, depending on the immigration status you seek.

That adds up to an unpredictable, unfair, and deeply frustrating situation and one more obstacle for the skilled immigrants that President Donald Trump says heu2019s trying to attract to the United States. Whether youu2019re trying to make ends meet while waiting for your green card, seeking a summer job, or hoping to work after graduation, EAD delays can be excruciating u2014 and unless your employer is willing to wait for you, the holdup could cost you your dream job.u00a0

So what could you do if you find yourself stuck in EAD limbo? Fortunately, you have options:

If you already have a visa, hold on to it

Many immigrants file EAD requests as part of their green card applications, even if theyu2019re already authorized to work under visas such as an H-1B or L-1. Thatu2019s a smart move: If your current work visa expires, but youu2019ve been issued an EAD, youu2019ll be able to keep working until your green card arrives. Still, if your EAD gets delayed, youu2019ll be glad to know that as long as your original employment-based visa remains valid, you can keep working without a problem.u00a0

Bear in mind, though, that you wonu2019t be able to renew your existing visa after filing a green card application. Itu2019s worth applying for your green card as soon as youu2019re eligible to give you plenty of time before your existing work visa expires.u00a0u00a0

If youu2019re still waiting, tell USCIS

Itu2019s not impossible for your EAD to slip through the cracks or be sent to the wrong address, so check with USCIS if things are taking too long. Start by checking the processing times for your service center. If you filed your I-765 before the u201creceipt date for a case inquiryu201d listed on the USCIS processing times tool, you can file an e-Request or call 1-800-375-5283 for an update.u00a0

In some cases, you can also ask USCIS to expedite your I-765. This is only available in certain circumstances, such as if delays are due to USCIS error or if you or your prospective employer would otherwise suffer major financial losses. Unfortunately, the possibility of losing or delaying acceptance of a job offer isnu2019t sufficient grounds for expediting an application.

Still stuck in limbo? Ask for help

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Immigration advocates are rightly fretting over the Trump administrationu2019s new health insurance mandate and efforts to dismantle the asylum system. But away from the spotlight, another crisis is quietly brewing that could affect virtually every foreign-born STEM (science, technology, engineering, and math) student and worker.

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Security is one of the toughest things to get right; a hacker only needs to win once, but businesses have to get it right every single time.

n

Not every company faces the same field of threats. That’s what makes security particularly difficult u2014 there are no panaceas, and the cybersecurity startup field is crowded. So much so, some entrepreneurs complain that the vast number of solutions on the market are weighing down chief security officers with a deluge of data but not the clear visibility they need.

n

Or, as one of the cybersecurity-focused VCs we surveyed called it: “startup fatigue.”

n

Many of the rising cybersecurity startups focus on the same or overlapping problems could lead to a “cybersecurity consolidation,” one that’s dictated by customers and not necessarily the businesses themselves.

n

But there’s usually one element that feeds into everything u2014 data.

n

As hacks and breaches become more common, companies and customers alike are reevaluating their relationships with data. Customers want more ownership of their data and the ability to give it out granularly, while an increasing number of businesses are shifting away from central banks of data and leaning towards a “zero data” approach.

n

By minimizing the amount of information companies store or collect, it’s validation that even some larger startups don’t even trust themselves to secure data properly.

n

Not only that, there’s as much mistrust inside their own networks. That’s where “zero trust” comes into play u2014 where you don’t trust, but you certainly verify. The idea is that you get no extra special access inside a company’s four walls. Many big companies, like Google, treat all employees the as if they present the same level of security risk whether they’re in the office, at home, or in a coffee shop down the street.

n

u201cYou should be able to run your whole business out of a Starbucks,u201d said Google security chief Heather Adkins at Disrupt SF.

n

Why the mistrust? Because security isn’t just a technology problem, it’s a people problem. And it’s not only people creating the solutions, it’s people with the solutions to create these startups to begin with.

n

We asked ten leading cybersecurity VCs who work at firms that span early to growth stages to share where they see opportunity in this sector:

n

n
• Amit Karp, Partner at Bessemer Venture Partners
n
• Rama Sekhar, Partner at Norwest Venture Partners
n
• Ping Li, Partner at Accel
n
• Saam Motamedi, Partner at Greylock
n
• Deepak Jeevankumar, Managing Director at Dell Technologies Capital
n
• Lenard Marcus, General Partner at Edison Partners
n
• Arun Mathew, Partner at Accel
n
• Matt Carbonara, Managing Director at Citi Ventures
n
• Matt Robinson, Vice President at TCV
n
• Enrique Salem, Partner at Bain Capital Ventures
n

n

In addition, we did a deep-dive interview withu00a0Arif Janmohamedu00a0at Lightspeed about how he and his firm are targeting the sector and what he sees as the next-generation of cybersecurity startups. Be sure to check it out.

n

n

The future of cybersecurity VC investing with Lightspeed’s Arif Janmohamed

n

n

Now, let’s get to the data.

n

Answers have been edited for clarity.

n

Amit Karp, Partner at Bessemer Venture Partners

n

In cybersecurity, what are you most interested in right now from an investment perspective?

n

Unfortunately, the cybersecurity landscape is overcrowded with many vendors that offer point solutions. I believe CISOs are tired of deploying additional security products which for the most part have overlapping functionality. So I am very cautious with additional tools that are deployed inside the enterprise perimeter (network, endpoint, etc.).u00a0 I am looking for companies that can be deployed quickly and demonstrate immediate value to CISOs, and do not overwhelm the CISO with many new alerts.

n

What are the most interesting trends in the space, particularly ones you think are under-appreciated by other investors?

n

I think there are still many opportunities to improve application security. The combination of every company becoming a software company on the one hand and development environments becoming more chaotic on the other hand, results in many new risks and opportunities in securing your software. This includes securing third-party APIs or open-source components which are outside your control and giving developers and devops engineers more security tools while not hindering the pace of development.

n

Another interesting trend is micro-segmentation and authorization u2014 with the adoption of zero-trust frameworks and authentication becoming a solved problem u2014 deciding who gets access to what has become increasingly important.

n

Are there any startups in cybersecurity you wish existed, but haven’t seen yet?

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Security is one of the toughest things to get right; a hacker only needs to win once, but businesses have to get it right every single time. Not every company faces the same field of threats. That’s what makes security particularly difficult u2014 there are no panaceas, and the cybersecurity startup field is crowded. So […]

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He can also be reached by email: zack.whittaker@techcrunch.com.

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His ethics statement is located at https://www.dannycrichton.com/ethics/

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He can also be reached by email: zack.whittaker@techcrunch.com.

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future of cybersecurity VC investing with Lightspeed’s Arif Janmohamed"},"content":{"rendered":"

There are two types of enterprise startups: those that create value and those that protect value. Cybersecurity is most definitely part of the latter group, and as a vertical, it has sprawled the past few years as the scale of attacks on companies, organizations, and governments has continuously expanded.

n

That may be a constant threat for the executives of major companies, but for cybersecurity VCs who pick the right startup targets for investment, it’s a potential gold mine. Here at Extra Crunch, we compiled a list of top VCs who have invested in cybersecurity and enterprise more broadly and asked them whatu2019s interesting in the space these days. We compiled ten of their responses as part of our investor survey and you should definitely take a look for their interesting takes on the space.

n

But we wanted to go a bit deeper on the topic to learn more about whatu2019s happening right now in cybersecurity. So today, we talk with Arif Janmohamed of Lightspeed Venture Partners, one of the leading investors at one of the top enterprise VC firms in the world. Heu2019s invested in companies ranging from cloud-access security broker Netskope and search analytics platform ThoughtSpot to Qubole (big data analytics), Nutanix (hyper-converged infrastructure), and Arceo.ai (cyber risk management).

n

Arif Janmohamed. Image via Lightspeed Venture Partners

n

TechCrunchu2019s security guru Zack Whittaker, managing editor Danny Crichton and operations editor Arman Tabatabai sat down with him to discuss what heu2019s seeing at the earliest stages in cybersecurity, which trends are being ignored by the industry and what he sees as the future of security in an always-changing present.

n

Introduction and Background

n

The following interview has been condensed and edited for clarity.

n

Danny Crichton: Letu2019s start with a bit of your background.

n

Arif Janmohamed: Sure. I’m on the early-stage side, so I have the most fun when I’m working with founders at the very earliest stages of company formation, where I can focus on company design, product and go-to-market and then find the right balance of teams to fill that out.

n

I’m on the board of Netskope, which is a cloud-security company. That one I did the Series B back in 2013. I’m on the board of TripActions, which is a corporate travel company, I did that one and then led the Series A and the Series B. I’m on the board of Moveworks, which is an AI engine for IT that was seeded by me and then I’ve supported them through their subsequent financing. I’m also on the board of a number of other companies.

n

Am I purely security-focused? The answer is no, I’m very much enterprise-focused. Security in my mind really fits within that rubric of the enterprise stack that’s getting rebuilt for a cloud-first world.

n

n

Where top VCs are investing in cybersecurity

n

n

What’s snake oil and what has real value?

n

Zack Whittaker: So I’ve got a question that I just want to jump right in with. I’m always curious about this, especially when it comes to the very early stage, how do you go about distinguishing between potential snake oil and the things that seem really viable in the security world?

n

","protected":false},"excerpt":{"rendered":"

There are two types of enterprise startups: those that create value and those that protect value. Cybersecurity is most definitely part of the latter group, and as a vertical, it has sprawled the past few years as the scale of attacks on companies, organizations, and governments has continuously expanded. That may be a constant threat […]

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is a technology, so fix it like one"},"content":{"rendered":"

n

nt

ntt

ntttttttEliot PepernttttttContributorntt

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ntttntttttnttttntt

nttt

nntt

nttEliot Peper is a critically acclaimed novelist who writes speculative thrillers that explore the intersection of technology and culture.t

ntntt

nttMore posts by this contributorntt

ntttttt
• How to read fiction to build a startup
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nt

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Just as as tangible as airplanes, computers and contraception, The Roman Empire, the Iroquois Confederacy and the United States of America are also human inventions.

n

Technology is how we do things, and political institutions are how we collaborate at scale. Government is an immensely powerful innovation through which we take collective action.

n

Just like any other technology, governments open up new realms of opportunity. These opportunities are morally neutral: humans have leveraged political institutions to provide public education andu00a0murder ethnic minorities. Specific features like explicit protections for human rights and civil liberties are designed to help mitigate certain downside risks.

n

Like any tool, systems of governance require maintenance to keep working. We expect regular software updates, but forget that governance is also in constant flux, and begins to fail when it falls out of sync with the culture. Without preventative maintenance, pressure builds like tectonic forces along a fault line until a new order snaps into place, often violently. Malka Older points out thatu00a0u201cdemocracy is not a unitary state that can be achieved, but a continuous process. We need to keep reinventing and refining government, to keep up with changes in society and technology and to keep it from being too easy for elites with resources to exploit.u201d

n

n

Eliot Peperu2019s Bandwidth is a riveting novel exploring the dark side of feeds and geopolitics

n

n

What might the future of governance actually look like?

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The Roman Empire, the Iroquois Confederacy and the United States of America are human inventions as surely as airplanes, computers, and contraception. Technology is how we do things, and political institutions are how we collaborate at scale. Government is an immensely powerful innovation through which we take collective action.

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As Jack Dorsey announced his company Twitter would drop all political ads, Facebook CEO Zuckerberg doubled-down on his policy of refusing to fact check politicians’ ads. “At times of social tension there has often been an urge to pull back on free expression . . . We will be best served over the long term by resisting this urge and defending free expression.”

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Still, Zuckerberg failed to delineate between freedom of expression, and freedom of paid amplification of that expression which inherently favors the rich.

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Facebook shares rise on strong Q3, users up 2% to 2.45B

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During today’s Q3 2019 earnings call where Facebook beat expectations and grew monthly users 2% to 2.45 billion, Zuckerberg spent his time defending the social network’s lenient political ad policy. You can read his full prepared statement here.

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One clear objective was to dispel the idea that Facebook was motivated by greed to keep these ads. Zuckerberg explained “We estimate these ads from politicians will be less than 0.5% of our revenue next year.” For reference, Facebook earned $66 billion in the 12 months ending Q3 2019, so Facebook might earn around $330 million to $400 million in political ads next year. [Update: It wasnu2019t clear if issue ads and PAC ads were counted in Facebooku2019s 0.5% figure, but now the company says that number is just for ads run directly by politicians.]

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Zuckerberg also said that given Facebook removed 50 million hours per day of viral video watching from its platform to support well-being which hurt ad viewership and the company’s share price, Facebook clearly doesn’t act solely in pursuit of profit.

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We just shared our community update and quarterly results. Hereu2019s what I said on our earnings call. — Before we…

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Posted by Mark Zuckerberg on Wednesday, October 30, 2019

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n

n

Facebook’s CEO also tried to bat down the theory that Facebook is allowing misinformation in political ads to cater to conservatives or avoid calls of bias from them. “Some people say that this is just all a cynical political calculation and that we’re acting in a way that we don’t really believe because we’re just trying to appease conservatives” he said, responding that “frankly, if our goal was that we’re trying to make either side happy then we’re not doing a very good job because I’m pretty sure everyone is frustrated.”u00a0

n

Instead of banning political ads, Zuckerberg voiced support for increasing transparency about how ads look, how much is spent on them, and where they’re run. “I believe that the better approach is to work to increase transparency. Adsu00a0on Facebook are already more transparent than anywhere else. We have a political ads archive so anyone can scrutinize every ad that’s run.”u00a0

n

He mentioned that political ads are run by “Google, YouTube, and most internet platforms”, seeming to stumble for a second as he was likely prepared to cite Twitter too until it announced it would drop all political ads an hour earlier. He omitted that Pinterest and TikTok have also banned political ads.

n

It doesn’t help that hundreds of Facebook’s own employees have called on their CEO to change the policy. He concluded that no one could accuse Facebook of not deeply thinking through the question and its downstream ramifications. Zuckerberg did leave himself an out if he chooses to change the policy, though. “I’ve considered whether we should not [sell political ads] in the past, and I’ll continue to do so.”

n

n

Facebook should ban campaign ads. End the lies.

n

n

Dorsey had tweeted that “Weu2019ve made the decision to stop all political advertising on Twitter globally. We believe political message reach should be earned, not bought.” Democrat Representative Alexandria Ocasio-Cortez expressed support for Twitter’s move while Trump campaign manager Brad Parscale called it “a very dumb decision”

n

Twitter’s CEO took some clear swipes at Zuckerberg, countering his common arguments for allowing misinformation in politician’s ads. “Some might argue our actions today could favor incumbents. But we have witnessed many social movements reach massive scale without any political advertising. I trust this will only grow.” Given President Trump had outspent all Democratic candidates on Facebook ads as of March of this year, it’s clear that deep-pocketed incumbents could benefit from Facebook’s policy.

n

Trump continues to massively outspend Democratic rivals on Facebook ads. Via NYT

n

Miming Facebook’s position, Dorsey tweeted “Itu2018s not credible for us to say: ‘Weu2019re working hard to stop people from gaming our systems to spread misleading info, buuut if someone pays us to target and force people to see their political adu2026well…they can say whatever they want!”

n

Twitter doesn’t earn much from political ads, citing only $3 million in revenue from the 2018 mid-term elections, or roughly 0.1% of its $3 billion in total 2018 revenue. That means there will be no major windfall for Facebook from Twitter dropping political ads. But now all eyes will be on Facebook and Google/YouTube. If Sundar Pichai and Susan Wojcicki move in line with Dorsey, it could make Zuckerberg even more vulnerable to criticism.

n

$330 million might not be a big incentive for Facebook or Zuckerberg, but it still sounds like a lot of money to earn from ads that potentially lie to voters. I respect Facebook’s lenient policy when it comes to speech organically posted to users, organizations, or politicians’ own accounts. But relying on the candidates, press, and public to police speech is dangerously idealistic. We’ve seen how candidates will do anything to win, partisan press will ignore the truth to support their team, and the public aren’t educated or engaged enough to consistently understand what’s false.

n

Zuckerberg greatest mistakes have come from overestimating humanity. Unfortunately, not everyone wants to bring the world closer together. Without safeguards, Facebook’s tools can help tear it apart. It’s time for Facebook and Zuckerberg to recognize the difference between free expression and paid expression.

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As Jack Dorsey announced his company Twitter would drop all political ads, Facebook CEO Zuckerberg doubled-down on his policy of refusing to fact check politicians’ ads. “At times of social tension there has often been an urge to pull back on free expression . . . We will be best served over the long term […]

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Constine also received a Bachelor of Arts degree with honors from Stanford University in 2007, with a concentration in Social Psychology & Interpersonal Processes.

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Constine also received a Bachelor of Arts degree with honors from Stanford University in 2007, with a concentration in Social Psychology & Interpersonal Processes.

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nn

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