<div><em>As it grows at an even rapid pace, social media must encourage competition and discourage abuse of its platforms. A tale of two incidents, says <strong>Pranjal Sharma</strong></em></div><div> </div><div>To debate, discuss, analyse, persuade, convince, argue, advocate and perhaps even lobby are basic rights in an open society. To compete, promote, sell, advertise, are basic rights of an open economy. Even though we live in open society and free economy, the struggle to ask for more never ends. There is always the attempt by someone to undermine and attack these rights. So battles are lost and won but war on these can’t be lost. </div><div> </div><div><table align="right" border="1" cellpadding="2" cellspacing="2" style="width: 200px"><tbody><tr><td><img alt="" src="http://bw-image.s3.amazonaws.com/Pranjal-200.jpg" style="width: 200px; height: 244px; margin: 1px;"></td></tr><tr><td><strong>Pranjal Sharma</strong></td></tr></tbody></table>Two recent developments forced to be rethink these ideas. One was personal and one was global. Let me begin with the global first. Now a new social media site called Tsu.co has been gaining popularity. From just a few, it has grown to more than 4.5 million subscribers. This social media platform combines the features of Facebook, Twitter, Instagram etc but with a critical difference. It promises to share the revenues of the content with the creator. This is unlike most other platforms like Facebook that offer free platform but sell the content to advertisers. </div><div> </div><div>Soon people started posting details about Tsu.co on various other sites including Facebook. Now rather than ignore a newbie like Tsu.co, Facebook is removing every mention of it on it site. Facebook says that that the new site violates certain rules as a reason. </div><div> </div><div>Here is the point of the matter, in an open economic environment large companies should not leverage their size to choke new entrants. Especially, in an age of information revolution where the pace of disruption is higher than ever. Social media companies like Facebook grew rapidly because the society was welcoming and rules were not restrictive. Now this environment is being undermined. Combine this with the antagonism that big social media and telecoms companies have to net neutrality and you get an environment where an open innovative economy finds it tough to breathe.</div><div> </div><div>Social media created global communities. These communities outgrew nations and aligned themselves to issues, causes and interests. Apart from size, there is another threat to these communities and conversation. While being global these are also local. Here the rising levels of abuse and defamatory activities is creating a toxic environment. Let me now share my personal experience. </div><div> </div><div>At recent debates on TV, I shared a certain view on a corporate governance policy. While the debating whether Indian’s government had the right to forcefully merge two private companies, I took the position that such powers should be curbed and defined. This related to the National Spot Exchange matter where the government had forced merger of two companies through a draft order. The matter is in the courts now. </div><div> </div><div>After two separate networks aired these debates, the participants were abused on social media by some who held a different view. These people who claimed to represent interests of some investors, did not engage in a constructive debate or conversation on the social platforms. Much of the abuse was manufactured outrage by fake accounts, done in an apparently concerted manner. </div><div> </div><div>Most right thinking people are open to debate and are willing to be convinced about the other point of view. Sometimes, you can agree to disagree. In either case, civility is maintained. What social media must focus on is its ability to foster robust debate while disincentivising nasty abuse. </div><div> </div><div>The growth in quantity and quality will occur when social media companies are able to create value for its members in an open, accommodative and transparent manner. </div><div> </div><div>Consumers will turn away from social media platforms that try to crushing new comers and are unable to curb defamatory abuse. </div><div> </div><div>The basics of personal and economic freedom must not be ignored. As it grows at an even more rapid pace, social media companies must encourage competition and discourage abuse of its platforms.</div><div> </div><div>Twitter: @pranjalsharma</div><div> </div><div> </div><div> </div><div> </div>
