Over the past 15 years or so, social media has gained tremendous traction. Facebook, Twitter and YouTube have reached soaring heights as companies. Social media has its benefits, such as global connectivity and low barrier to entry. It also gives people a platform for expression. The sector has taken a dark turn in recent years, however, igniting aggression and spreading false information, while, at the same time, raising questions of censorship. Eric Yang, founder and executive director of Junto — a nonprofit decentralized social media startup — sees three main issues with the current landscape.
The first of the three issues mentioned by Yang relates to governance, which is essentially the people or entities tasked with a given platform’s overwatch and management. “A lot of these companies are set up as for-profit institutions that have a fiduciary obligation to their investors,” Yang told Cointelegraph in an interview.
Essentially, profit drives said social media entities as their actions impact investors’ pockets, Yang