Ethical Venture Capital: Why Social Media Needs a Conscience (with Brad Burnham & Zoe Weinberg)

In an era of hypergrowth and enshittification, can venture capitalists win by investing with conscience? Today on Revolution.Social, Rabble talks to Union Square Ventures co-founder Brad Burnham and ex/ante founder Zoe Weinberg about digital agency, human rights, and tech that makes the world more inclusive and democratic.

 "One of the broader objectives of ex/ante is to think about how do you move beyond surveillance capitalism?" Zoe says. "And the irony is not lost on me that venture itself is part of what created it. And so I think we have to be intellectually honest about that and also come up with a compelling reason why this time is going to be different."

Brad is a legendary investor known for his work in the early Web 2.0 era, when Union Square Ventures backed companies such as Twitter, Tumblr, and Etsy. But with hindsight, he says VCs have a "moral responsibility" to anticipate the consequences of their investments.

"The more time we spent with these companies, the better we understood that the more people in our network, the more valuable that network," Brad says. "What we didn't understand is that it was going to lead to the consolidation around Google, Apple, Facebook, Amazon. We didn't understand that it was so powerful and there was so much value ... that there was no way that a startup could compete with those dominant players."

Chapters: 0:00 Introduction 6:13 Brad’s Early Career and the Birth of Web 2.0 9:05 The Early Days of Union Square Ventures 11:01 Zoe’s Path From Conflict Zones to Digital Freedom 13:45 How Venture Capital Actually Works 18:46 The Evolution of Digital Marketplaces 22:09 The Shift from Open Protocols to Walled Gardens 29:41 Crypto as a New Economic Incentive Model 36:53 Is Technology "Neutral?" 40:33 Public Benefit Corporations 44:16 Personal Data Ownership in the Age of AI 53:25 Centralization vs. Human Agency 57:18 The Future of Agents and Liberatory Technology

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This episode was produced and edited by Eric Johnson from LightningPod.fm, and executive produced by Alice Chan from Flock Marketing.

To learn more about Rabble’s Social Media Bill of Rights, and sign up for our newsletter, visit https://revolution.social/