The Web 3 Movement Is A Great Challenge To Confront Existing Forces | Business | The ORIENTAL ECONOMIST

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'Web3 will be an enormous challenge', Professor Lessig of Harvard University points out.

Lawrence Lessig is the Roy L. Furman Professor of Law and Leadership at Harvard Law School. Prior to rejoining the Harvard faculty, where he was the Berkman Professor of Law until 2000, Lessig was a professor at Stanford Law School, where he founded the school’s Center for Internet and Society, and at the University of Chicago.

Politically, we've become polarized because it turns out if you give people polarizing, anger inducing content. They're more likely to engage with it and if you give them content about science or anything like that. The consequence of that is that the business model has enormous externalities for society.

It's terrifying because Elon Musk has not demonstrated the discipline that power requires. I think it's a problem with being the richest man in the world, working around rocket scientists: I'm sure he knows about rockets, and he knows about developing technology for electric cars, and his work there deserves respect. Especially Tesla, which is an amazing company. But when I hear him talk about free speech, it's embarrassing.

My book went from a book that was promised to be delivered within 24 hours to a book that would take six weeks to be delivered, because every one of the books from this publisher was put on a six week delivery schedule, as a way to punish the company for criticizing Amazon. I fear the DMA and the DSA are similarly well intentioned, but similarly miss the point. The fundamental problem with the internet right now is the business model of engagement. When these regulations got close to regulating that business model — in the context of advertising to children — they held back. They didn't, they weren't even willing to regulate the business model in that critical place. That is a weakness.

I don't think that's enough. I think there needs to be a more effective internet regulator. There are so many serious threats that the internet produces inside of society that we desperately need an effective way to address. Social media is just one. They're even talking about empowering state legislatures to reverse the vote of the people in their states so that they can make sure that they can elect a president even when they have not received as many votes.

 

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