The former owner of the Los Angeles Dodgers, Frank McCourt, is investing $100 million in Project Liberty that aims to enable people to move their data and connections across social media apps as opposed to having it stored in a few dominant apps, Bloomberg reported.
A few big companies dominate the social media space, particularly Facebook. These companies have accumulated social connection data creating barriers to entry for potential competitors.
“We live under constant surveillance, and what’s happening with this massive accumulation of wealth and power in the hands of a few, that’s incredibly destabilizing,” said McCourt. “It threatens capitalism because capitalism needs to have some form of fairness in it in order to survive.”
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