True, a budding social platform with $15 million in backing from Microsoft veteran Paul Maritz, takes aim at Facebook by rejecting user tracking and targeted ads
True is another newer entrant into the social media space, long dominated by Facebook and Twitter.The platform does not use targeted ads, something investor Paul Maritz called"the root of all evil."
Getting users away from the trade-off required to use Facebook, for instance, but also any of the better-known social media platforms, in which a free app mines every bit of user information it can to sell for targeted advertising, was Cox's motivation for starting the app, which was first released in 2021.
Cox, who has founded a number of tech companies over the last two decades, including a data storage firm through which he met Maritz, also believes that we're seeing the beginning of the end of targeted advertising as a business. He pointed to the EU and its"The EU is really clamping down on it and we think that it's only a matter of time before that attitude finds its way over to the United States," Cox said.
"Paul and I have a lot of experience with venture capital over the years, we know what the incentives are," Cox said."They don't align with the incentives of building an organic place for people to connect and share, a place that doesn't put growth at all costs at the center of its business model." "Bret and I share a belief that this reliance by social media companies on a business model of targeted advertising, almost requires a company to abuse your personal information," Maritz said."My interest is if that business model is the root of all evil, can there be other business models that still allow us the joys of interacting online with friends and family, and sharing experiences, without having to sell ourselves into this marketplace.
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