Zuckerberg asks Harvard graduates to fight isolationism, nationalism

May 26, 2017

San Francisco, May 26: Facebook Inc. chief executive officer Mark Zuckerberg told Harvard graduates that they need to help others find purpose in a world where machines are taking away some of the steady jobs and communities aren"t as stable, leading to isolation and nationalism instead of people coming together globally to solve problems.

Zuckerberg

“When our parents graduated, purpose reliably came from your job, your church, your community,” Zuckerberg, 33, said in a commencement speech. “But today, technology and automation are eliminating many jobs. Membership in a lot of communities has been declining. Many people feel disconnected and depressed, and are trying to fill a void in their lives.”

The social network Zuckerberg started in his Harvard dorm room now has 1.94 billion users around the world, large enough for the CEO to feel pressure about its impact on society. Zuckerberg has spent this year travelling around the US to understand what people feel about Facebook and how they form connections with each other, after the country"s presidential election revealed deep divides.

Zuckerberg said that on his tour around the states, he met opioid addicts and others who had fallen on hard times with factory closings, who said they might not have suffered if they had something to do. Stress felt by many American communities will increase as tens of millions of jobs are replaced by automation, such as self-driving cars and trucks, Zuckerberg said. Without a sense of purpose, people will turn towards isolationism, nationalism and authoritarianism, instead of openness and global community, he said.

“There"s pressure to turn inwards,” Zuckerberg said. “This is the struggle of our time. This is not a battle of nations, it is a battle of ideas.”

Unless people work together globally, they can"t stop disease pandemics or climate change, he said.

“We have the potential to do so much more together,” Zuckerberg said. He spoke of the achievements of previous generations, such as the moon landing and inventing the polio vaccine. “Now it"s our generation"s turn to do great things. Ideas don"t come out fully formed, they only become clear as you work on them. You just need to get started.”

He suggested stopping climate change by putting people to work manufacturing solar panels, curing disease by getting people to volunteer their health and genome data, and modernizing democracy so people can vote online.

Zuckerberg said that it will cost money to help society, and that people who are rich like him should pay. Zuckerberg, the world"s fifth-richest person, and his wife, Priscilla Chan, have a philanthropic foundation and have pledged to give away virtually all of their considerable wealth in Facebook shares.

He called for affordable childcare and health care that doesn"t just come from an employer, and asked Harvard graduates to volunteer their time, not just their money, to people who don"t have the same opportunity.

The Facebook founder, who dropped out of the university in 2004 to work full-time on the social network, is the youngest person to deliver a commencement speech at Harvard and was given an honorary degree for the effort.

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Agencies
July 19,2020

New Delhi, Jul 19: Indian equities will be driven by a host of factors like corporate earnings, coronavirus cases trend and geo-political developments this week, according to analysts.

Market participants will also keenly watch the progress of monsoon, with experts saying that the farm sector revival will play a key role in lifting the coronavirus-hit economy.

"With no major event, the ongoing earnings season and global cues will continue to dictate the market trend. Besides, the progress of monsoon will also be closely watched," Ajit Mishra, VP - Research, Religare Broking, said.

Globally, the rising coronavirus infections and geo-political tensions have created uncertainty on the economic recovery front.

With India's COVID-19 cases fast approaching the 11 lakh mark, the third-highest behind the US and Brazil, and the death toll nearing 27,000, participants are expected to tread cautiously going forward.

At global level, confirmed COVID-19 cases have crossed 1.4 crore and deaths totalled about 6 lakh.

Markets globally will closely follow developments on the trade and political level between the US and China, according to analysts.

"We would continue witnessing stock-specific action as the earnings season unfold. Though the near-term momentum looks positive, we would advise traders to be cautious, given flaring US-China trade relations, persistent rise in virus cases and implementation of fresh lockdowns in parts of the country," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

HDFC Bank will remain in focus on Monday after having announced its June quarter earnings on Saturday.

The lender reported 19.6 per cent rise in its standalone net profit at Rs 6,658.62 crore for April-June 2020; while its income rose to Rs 34,453.28 crore during the quarter.

Other major companies to announce their quarterly results this week are Axis Bank, Bajaj Finance, Hindustan Unilever Limited, Bajaj Auto and ITC.

"Going ahead market participants will closely track the development related to covid vaccine, the rising infection of coronavirus, development on economic activities, corporate earnings and US-China relationship," said Sumeet Bagadia, Executive Director, Choice Broking.

On weekly basis, the Sensex gathered 425.81 points or 1.16 per cent, and the Nifty gained 133.65 points or 1.24 per cent.

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Agencies
March 3,2020

Facebook on Monday launched a new consumer marketing campaign in India titled 'More Together'. India is the first country in the Asia Pacific region where such a campaign is being rolled out.

It is also the first time that Facebook is rolling out a 'high decibel campaign of this stature in India', the company said in a statement.

It is also the first time that Facebook is rolling out a 'high decibel campaign of this stature in India', the company said in a statement.

"India is at the heart of Facebook and one of our focus areas this year is to tell the exciting story of a service that is deeply embedded in the fabric of India," said Ajit Mohan, Vice President and Managing Director, Facebook India.

The campaign would have multiple campaigns over the next few weeks in eight languages and the one will be set in the context of Holi.

Facebook in 2019 introduced a new company logo to further distinguish the company from the Facebook app.

The company recently announced the appointment of Avinash Pant as the Marketing Director for India operations, to drive the consumer marketing efforts across the family of apps.

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Agencies
June 18,2020

New Delhi, Jun 18: Vodafone Idea on Thursday told the Supreme Court that it has incurred Rs 1 lakh crore losses as it insisted it is not in a position to furnish bank guarantees.

A bench comprising Justices Arun Mishra, S. Abdul Nazeer, and M.R. Shah, taking up the adjusted gross revenue (AGR) matter through video conferencing, directed the telecom companies to submit their financial documents and books for the last 10 years.

Asking Vodafone if it was a foreign company, the bench said that how can the company say it would not furnish any bank guarantee.

"What if you fly away overnight in future without paying anything?" it asked.

Senior advocate Mukul Rohatgi, representing Vodafone Idea, denied his client is a completely foreign firm and cited before the bench its tie-ups and investments.

Vodafone owes over Rs 58,000 crore as AGR dues and so far, has paid close to Rs 7,000 crore.

Rohatgi contended before the court that the telecom company is in a tough situation, and cannot furnish any fresh bank guarantee, as profits have eluded the company in past many quarters. He submitted before the bench that Rs 15,000 crore bank guarantees are lying with the government, and his client's losses are over Rs 1 lakh crore.

"I cannot offer any more surety," he informed the bench.

Justice Mishra noted that this is public money and these dues should be recovered. "Do not tell us that you will pay if you were to make profits... the money must come," he noted.

Justice Shah observed that the telecom industry is the only industry which earned during the Covid-19 pandemic. "After all, this money will be used for public welfare", he said.

Rohatgi argued that his client would have to fold up if orders were issued to clear dues tomorrow. "11,000 employees will have to go without notice, as we cannot pay them," he added.

Senior advocate Abhishek Manu Singhvi, appearing for Bharti Airtel, contended before the court that out of Rs 21,000 crore AGR dues, the company has already deposited a sum of Rs 18,000 crore.

He argued that his client has given a bank guarantee, in excess of demand, to DoT, and supported the proposal for phased repayment of remaining AGR dues. He insisted that the company needs to sit down with the government and calculate the dues. Airtel owes Rs 25,976 crore after paying Rs 18,000 crore, as per the government.

Senior advocate Arvind Datar, representing Tata Telecom, informed the bench that his client has paid Rs 6,504 crore in AGR dues so far, and furnishing a bank guarantee may adversely impact investments in the sector.

The total AGR dues are close to Rs 1.5 lakh crore.

The top court will now take up the matter in the third week of July.

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