Tech Execs on the State of Silicon Beach and the Challenge of Doing Business While Doing Good (Video)

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Tech Execs on the State of Silicon Beach and the Challenge of Doing Business While Doing Good (Video)

by Trey Williams | June 5, 2019 @ 7:05 PM

TheGrill 2019: ”If you believe that Facebook and Instagram and Google and others are contributing to the problems in our democracy, is it ethical to continue to be on those platforms?“ Magnet Companies co-founder Jeff Berman asks

“If you believe that Facebook and Instagram and Google and others are contributing to the problems in our democracy, is it ethical to continue to be on those platforms?”

That was the question posed by Jeff Berman, a panelist on a Silicon Beach roundtable Wednesday at The Grill, TheWrap’s annual conference on entertainment and business. Berman, co-founder of private equity-backed holding company Magnet Companies, was part of a discussion on how companies can balance their financial obligations to shareholders with their ethical obligations to consumers.

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“I think when you’re leading companies, whether it’s five people or 500 people, increasingly we’re being pressured by our employees to take stands and show where our values are and what we’re about and that can be very complicated when it runs up against shareholder value,” said Berman. He asked whether it was OK to stay on platforms that may harm democracy if it’s “integral to your business but maintain your obligation to your employees, your customers and to society.” Danny Keens, current head of content at NextVR, shared his experience working at Twitter when the company was developing.

Watch the full video from the panel above.