Facebook has hired the Patriot Act's co-author and "day-to-day manager" to be its new general counsel

Jennifer Newstead helped craft the Patriot Act, a cowardly work of treasonous legislation foisted on the American people in the wake of the 9/11 attacks; later, she served as the Patriot Act's "day-to-day manager" in Congress; today, she is Facebook's general counsel. Read the rest

Investors controlling $3B in Facebook stock demand Zuckerberg's ouster, and they will lose

A consortium of Facebook investors led by Trillium Asset Management and controlling $3B in shares has put a proposal before the shareholders to fire Mark Zuckerberg for his mishandling of a string of ghastly scandals; they will lose, however, because Facebook's share structure gives Zuckerberg's personal shares more votes than other shareholders, ensuring that the company can run as a cult of personality beholden to his whims, rather than one disciplined by shareholder choices (this corporate structure is also in place at News Corp, Google, and other companies whose founders are able to raise funds in the capital markets without having to be beholden to their shareholders). Another shareholder proposal would put Zuckerberg's shares on even footing with other shares -- currently, each of Zuck's shares have ten times more votes than ordinary shares -- and this proposal will also fail. (via /.) Read the rest

'Zucked: Waking up to the Facebook Catastrophe,' by Roger McNamee [BOOKS]

“The time has come to accept that in its current mode of operation, Facebook’s flaws outweigh its considerable benefits”. — Roger McNamee in ZUCKED.