Facebook, YouTube, et al. should pay into a $10 billion public trust that funds the institutions they’ve undermined: journalism, fact-checking, and media literacy.

Facebook, YouTube, et al. should pay into a $10 billion public trust that funds the institutions they’ve undermined: journalism, fact-checking, and media literacy.

The 2020 US elections, the Covid-19 pandemic, the ongoing impasse between the US and Iran. With each new top story there is a corresponding story, or slew of stories, about disinformation flowing over it. And, as the Trump-Clinton contest and continuing discussion about Russian propaganda have taught us, the conversation about the flow of purposefully misleading false information is usually one about problems that begin in the digital sphere.
Prior to the 2016 election in the United Statesin which well-documented efforts to spread computational propaganda aboundednumerous similar cases had been researched and written about in Ukraine, Mexico, South Korea, and elsewhere. It wasnt until 2016, however, that that worlds most powerful technology firms began paying attention.
Dr. Samuel Woolley (@samuelwoolley) is an assistant professor in the School of Journalism and program director of propaganda research at the Center for Media Engagement, both at UT Austin. His new book, The Reality Game: How the Next Wave of Technology Will Break the Truth, discusses how we can prevent emergent technology from being used for manipulation.
These firms, from Facebook to Twitter, have now very publicly admitted to having a role in facilitating the spread of foreign influence during elections and, more generally, of circulating massive amounts of disinformation the world over. At the same time, journalists and academics have well-cataloged the litany of ways social media and search companies have benefited from, but rarely compensated, the work of reporters, Wikipedians, and educational organizations.
Its time for the companies to pay the price for the damage theyve caused. After spending several years researching and writing my recent book The Reality Game: How the Next Wave of Technology Will Break the Truth, I’ve come to a simple conclusion: Technology firms must create a public trust in the United States geared towards revamping the US institutions they have undermined. The federal government should make Google, Facebook, Twitter, Reddit, and other Web 2.0 powerhouses collectively place $10 billion into a long-term fund, overseen by informed and unbiased third parties, to be used to re-built and re-vamp journalism, fact-checking, information/media literacy education, and other informational resources integral to supporting a healthy democracy.
Historically, such a fund would be comparable to the Tobacco Master Settlement of 1998, in which the nations four largest tobacco companies were forced to pay a minimum of $205 billion. This money forced the companies in question to stop predatory marketing practices, supported the creation of the advocacy group the Truth Initiative, and compensated states for medical costs due to smoking-related illnesses. Its true that the failures of Big Tobacco and Big Tech have caused different societal harms. Its also true, though, that both of these industries ignored emerging research findings about the impacts of their products that would have seriously undercut their bottom line. Both continued to leverage disinformation for profit.
As complicated to enact and oversee this trust would be, as a disinformation researcher, journalism educator, and regular citizen I am sick of hollow promises and half measures. These social media firms have made some progress in responding to the threats of false information. For instance, Facebook, Snapchat, Pinterest, and others are making concerted attempts to combat misinformation on coronavirus. But they still are, as one former Big Tech employee put it to me, building the plane while the plane is being flown. Beyond this, platforms willingness to moderate problematic information in this particular case only underscores their past and present failures to take similar measures to effectively curb the spread of false information about vaccinations, disasters and elections.
Google announced two years ago this March that they were investing $300 million into a News Initiative aimed at working with the journalism industry. But this project and this cash a) is overseen and administered by Google, b) repackages multiple old Google endeavors as new ones, and c) isnt enough.
When the Google News Initiative offers anything remotely appearing to be renumeration to the Wikipedias or ProPublicas of the world, it is far too littleespecially considering that Googles parent company, Alphabet, reported earnings of $40.5 billion in Q3 of 2019 alone. That $300 million amounts to only about 7 percent of one quarter of one years worth of earnings for the firm.
I readily admit that many of my colleagues, collaborators, and fellow researchers have benefitted from partnerships with both the Google News Initiative and other, less formal endeavors like it at Facebook, Twitter, and elsewhere. But when it comes down to it, these researchersand the nonprofits, NGOs, and universities they work forhave primarily benefited in the sense that theyve been given access to research funds or data that that they should have had access to anyway, were the companies actually giving back to the democracy and public that theyve preyed upon.

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