I want to thank everyone for their adherence to the guidelines as we continue to do our work while protecting the health and safety of our staff, families and communities. Thank you for joining us today. In pursuant to notice, todays hearing is taking place in our ways and Means Committee hearing room, with members permitted to attend remotely in compliance with the regulations for Remote Committee proceedings, pursuant to House Resolution 965. We currently have 33 members logged in and participating via the webex platform. For those members who arent here in washington and plan to participate in person, we have a limited number of available seats to ensure that we adhere to social distancing guidelines. I encourage members to watch from their office and only come to the hearing room when it is your turn for questioning. Before we turn to todays topic, i want to remind members of a few procedures as we navigate this hybrid hearing setting. First, consistent with regulations, the commit
Good morning and welcome. Consistent with the guidelines released last night by the ho e attending physician and the speaker all present today in the hearing room are required to wear face coverings. Brief removal of the masks for the purposes of speaking on the record is permitted. I want to thank everyone for their adherence to these guidelines as we continue to do our work protecting the health and safety of our staff families and communities. So thank you for joining us today. Pursuant to todays instance n our hearing is taking place in the ways and Means Committee room with members able to attend remotely with compliance with proceedings pursuant to House Resolution 965. We currently have 33 members logged in and participating via the platform. For those members here in washington and plan to participate in person we have a limited number of available seats at the dias to ensure we adhereby to social distancing guidelines. I encourage members to watch from their office and only co
Instagram. Shares of facebook plunging on friday. The stocks opening up dismally today but then leveling out and ended the day up 2 . Discuss, earlyto facebook investor and elevation orders cofounder, and also the. Thor of the book, zucked this seems different. I dont recall any time that so many major brands all at once joined a boycott against facebook on the grounds of civil rights. Would you say this is different as well . Definitely. Is part andthis parcel. Think about how different the world is today from three months ago. First, the pandemic, then the economic decline that went with it, then since the murder of george floyd, we have an awakening on issues of racism and civil rights that i believe have affected every part of the American Economy and our society. Emily so, why now . Abigail again, roger again, i think if you think about this from the perspective of an investor or advertiser, facebook gave the ability for the advertiser to reach audiences with a level of precision
Hindered American Consumers from keeping up with the high levels of american productivity. Her class is about 75 minutes. Its been the last few weeks considering how americans adapted to abundance, between the 1890s and the 1920s. Despite their efforts of producers, advertisers and retailers and of others, the supply of goods continue to outstrip demand. This was not because everyone all hundred 6 million americans had everything they needed. It was because they didnt have adequate purchasing power. They dont have adequate wages or income to buy all of that stuff. And it wasnt just americans who were in the situation. But so to our trading partners around the world. They dont have enough income to buy all of the commodities we were producing in our fields and all the wonderful things are factories were making. So by the end of the 1920s, the American Economy went bust. You will know this. You all know the stock market crashed in 1929. And the World Economy went bust as well. Worldwide
[laughter] see you know what that means, ive received the walkout, the storm the stage strategy, and at Claremont Mckenna in southern california, the blockade that prevented anyone from actually attending my talk. Socalled students of color at nearby Pomona College announced i w i was ignoring systems of domination that produce lethal conditions under which oppressed people are forced to live. So to actually have an audience still in its seats and apparently willing to listen is an unusual experience that may take me a while to get accustomed to. Now, weve been hearing a lot of late about the crisis of free speech on College Campuses, but not much about its root cause. The narcissistic victimology that is rapidly spreading from academia to the rest of culture. In a word, the American University is in the grips of a mass hysteria. Students actually believe that they are victims of oppression at risk of their lives from racism and sexism. The degree of caterwailing is hard to overstate.