Follow the latest news and conversations at the Aspen Ideas Festival

Cheney encourages people to run for office: ‘Institutions aren’t going to defend themselves’

Cheney, talking about how to improve U.S. politics, encouraged people to get involved and run for local office.

“The institutions aren’t going to defend themselves,” Cheney told Holt.

Cheney on Monday admonished the electorate for “electing idiots.”

Cheney: I’m conservative, but most Republicans today aren’t

Asked if she still considered herself a conservative, Cheney said yes, while adding that most in the modern Republican Party are not.

The “party has abandoned conservatism,” she said.

Cheney asked about her 2024 plans

Lester Holt asked Cheney whether she plans to run for president in 2024. She replied that she didn’t have anything to announce today, adding that she was more focused on “stopping Donald Trump, whatever that takes” and “helping to elect other good candidates down ballot.”

Then, asked whether she would consider running as a Republican or a third-party candidate, Cheney replied that she would not do “anything that would help Donald Trump.”

Cheney gets laughs from audience for joke about new ‘Democratic friends’

The crowd gathered for this afternoon’s conversation laughed after Cheney quipped that she has “more Democratic friends” than she used to — a nod to her support among liberals after emerging as one of Trump’s most vocal critics.

Crowd supports Cheney’s message that Trump shouldn’t be let near Oval Office again

The opening has been all about Trump, and the biggest audience response came from a line in which Cheney made clear that she thinks he should never be president again.

“The single most important issue is that Donald Trump never be anywhere near the Oval Office,” she said to applause.

Cheney: Indictment shows Trump ‘unfit’ to be president

“Nightly News” anchor Lester Holt kicked off his conversation with former Rep. Liz Cheney this afternoon by asking the Wyoming Republican her thoughts on the federal indictment against former President Donald Trump.

“There’s simply no question he’s unfit to be president of the United States,” Cheney said, adding that there needs to be “accountability.”

NBCUniversal News Group chairman kicks off afternoon’s conversations

Cesar Conde, the chairman of the NBCUniversal News Group, introduced “NBC Nightly News” anchor Lester Holt’s conversation with former Republican Rep. Liz Cheney of Wyoming.

“We hope you will agree this will be an incredible discussion to kick off the afternoon,” he said.

Conde oversees NBC News, MSNBC and CNBC.

The crowd is streaming in for the afternoon’s conversations

People are filing into the Benedict Music Tent ahead of the afternoon’s main event: a series of conversations with marquee names.

We’ll have coverage of some of the key conversations, featuring former Rep. Liz Cheney, R-Wyo.; The Wall Street journal publisher Almar Latour; and “Succession” star Brian Cox.

Next up: Afternoon of Conversation

The next panel, “Afternoon of Conversation,” will feature global leaders, journalists, politicians and more.

The session, which will include former Rep. Liz Cheney, is scheduled to begin at 2:45 p.m. MT/4:45 p.m. ET.

Williams slams financial literacy programs as ‘useless’

Asked about financial literacy initiatives developed by major banks — frequently as an employee benefit offered by major companies — Williams said, “Throw away all the books, it’s useless.”

His remark drew a “there you go, thank you” from Bell.

“There’s two people: people with money and people without money. The only way you know how to handle money is to have money,” Williams continued. “It’s that simple. You have to give people money, and you have to give them rules to learn. That’s it.”

Williams criticizes subprime lending industry

Williams took aim at the subprime lending industry, saying it’s “crowded, but it’s crowded with subprime credit cards” whose policies tend to squeeze consumers with historically limited access to financial services.

The sector is “a $190 billion market that’s the fastest-growing consumer finance market,” he said, but “there’s a vested interest to protect the credit industry that operates in subprime lending.”

For example, Williams said, many common types of fees are excluded from credit cards’ APR, such as annual fees, subscription fees and late fees. Taken together, he said, the industry is “kind of designed to take advantage of a group that has not had the innovation, and more importantly, hasn’t had a founder who has experienced it that can point it out and say, ‘Well, we don’t want to do that anymore.’”

Dredge explains how he protects his social healthcare startup against Big Pharma

To get off the ground in the highly consolidated drug sector, Dredge said SSM Health “had to enter big, we had to enter long.” So the organization looked at “a critical set of essential drugs that were purchased directly by hospitals,” then pooled together 500 hospitals and signed five-year contracts with them, making a commitment “not to bend” under market pressure.

A common threat for new entrants, he said, is that “the incumbents can come in and just undercut you, and they squeeze you out until you go away.”

Backed by a big infusion of philanthropic dollars, including from a billionaire donor, SSM is set up as a nonprofit that Dredge said helps ensure it won’t be “taken out through acquisition or sale.”

Bell discusses how to design a viable business aimed at closing the racial wealth gap

“Far too many times, people think when you’re trying to help people that look like you, it must be alms, it must be charity. You’re probably not going to make any money, so we’ll send you to our social impact folks,” Bell said, adding, “Black people like making money too.”

His challenge, he said, was to “create a marketplace where everybody can make money. That’s the bottom line. In America that’s the only way.”

Otherwise, he said, “It will only be as popular as the last martyr … whether it was George Floyd or any other ones before him or ones who will come after him, you’ve got about a two-and-a-half-year span where America will care, and then they won’t.”

Entrepreneurs discuss disrupting finance, healthcare and banking industries

Three entrepreneurs took the stage to discuss businesses they see as disrupting key industries that many Americans rely on but don’t have equal access to.

Rodney Williams, co-founder of the community finance platform SoLo, short for social loans, “has quickly become the largest consumer finance company ever founded by African Americans,” he said. Williams added that the company is “lending or enabling about $20 million of capital to underserved communities every month.”

SSM Health is a 501(c)(4) nonprofit group whose medicines have been used to treat over 55 million people, said Carter Dredge, SVP and lead futurist at the healthcare network, which he described as pioneering a “new business genre.” SSM played “a critical role in reducing the price of insulin for people who need it earlier this spring by over 70%.”

Ashley Bell is the CEO of Ready Life, a fintech company focused on Black homeownership. “We believe that credit scores are just a proxy for race in this country,” Bell said. “We think there’s a better way,” which involves underwriting home loans based on customers’ cash flow, he said.

Next up: Meet the disruptors

The next panel, “Meet the Disruptors: Paving a Path to a New Economy,” is scheduled to begin at 11:50 a.m. MT/1:50 p.m. ET.

It is expected to feature three business leaders who are part of the Aspen Global Leadership Network and use emerging technologies as part of their drug delivery, banking, and community-focused finance businesses.

The panelists will be in conversation with NBC News’ Rebecca Blumenstein. 

“What to Take Down, What to Leave Up, and Why” panel has ended

And that’s a wrap on this panel. Nossel covered a lot of ground and did a lot to illuminate the complexities and subtleties of how the Facebook Oversight Board makes decisions.

That said, she painted a picture of a company that is still struggling with enforcing its rules and showing signs of caring less about moderation.

Nossel says it’s important to keep pressure on Facebook about moderation

In response to a question from yours truly about whether Facebook’s move to moderation has begun to reverse, Nossel said it is a major concern, noting that the company seems to be under less pressure than in the past and concentrating on other challenges.

“I think this outside pressure, whether it’s from the real board, our board, journalists, researchers, investigators, I think it’s extremely important to keep that focused and potent because they’re a company,” she said. “They’re worried about AI and worried about the metaverse.”

Facebook’s safety practices remain a concern, Nossel says

In response to a question about whether Facebook does enough to consider downsides when launching products, Nossel said the company’s safety practices remain a concern and noted that the company has laid off many employees.

Nossel noted a board case in Brazil over a post that clearly violated the company’s policy against calling for attacks against infrastructure.

“How were you not more on top of that? How could you not have experts who would be looking at a post, just like this and recognizing its potential, and yet they didn’t,” she said.

Nossel: AI raises questions about when to slow tech development

Nossel touches on concerns about generative AI and the challenges that technology poses. Tech companies including Facebook have talked for years about developing AI to help with moderation.

But there’s growing concerns that AI will make it easier to flood the internet and social media with fake content.

Nossel said it’s a major question of how and when to slow technology development.

“I don’t know how as a society develop the ability to kind of calibrate this. I think it’s really hard to rein things in once they’re in such wide use,” she said.

Facebook’s moderation decisions can be inconsistent, Nossel says

Franks mentions the “Real Oversight Board,” a group entirely separate from Facebook that acts as an external watchdog for Meta and Facebook. She noted a post from that group was recently taken down and later reinstated by the company with no explanation.

Asking about whether the board has brought this up with Facebook, Nossel said the board has discussed and that she did not think there was a good explanation.

Nossel added that the way moderation decisions at Facebook happen tends to be varied and diffuse, coming from offices all over the world.

Nossel also called Facebook’s actions to take down the post an “own goal” that points toward the platform’s inconsistency in making moderation decisions.

Nossel calls Facebook’s ‘cross check’ program ‘an absolute double standard’

On a question about Facebook’s willingness to enforce its rules on famous people, Nossel mentions “cross check,” a program that gave certain high-profile accounts special treatment around moderation questions.

Nossel said the program has some business merits but was also “an absolute double standard.”

Nossel said the board raised concerns about the program and that Facebook did not let them see the list of people on the “cross check” list.

Nossel addresses criticism of the Oversight Board

Franks notes some of the criticisms of Facebook and its board, most notably that it makes the company into something akin to a quasi-governmental entity.

Nossel called that question a “genuine dilemma,” adding that the board is a legitimizing body for the company. She said that the company has such a major presence in modern discourse in the U.S. but also in places such as Myanmar, where the platform places an even more outsized role in the flow of information and has also been the scene of violence connected to Facebook.

“In some ways, their level of societal influence and control has already gotten out of hand. And so, I think the other way to look at it is you’re trying to rein that in,” Nossel said.

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Can the Facebook Oversight Board be truly independent?

Frank is asking about the independence of the board, Nossel said that the board is dependent on Facebook to provide data and answer questions.

She said the company sometimes does respond, but other times will decline to respond.

“I think that the credibility of the platform hinges significantly on Facebook’s willingness to play ball,” Nossel said.

She said she feels some within Facebook are still resistant to the board, but others have warmed up to it.

“There is are still even within the company, I think mixed feelings about the board,” Nossel said. “I think some are fully on board and supportive and believe this is part of the future of the company. And there are others who think this is a thorn in their side.”

Oversight board members had ‘real debate’ over Facebook’s nudity policies

Nossel spoke to one of the the more challenging cases she considered while on Facebook’s board.

The case focused on threatening posts in Ethiopia and whether they were legitimate expression or incitements of violence.

Nossel noted the posts would not have violated U.S. law in terms of incitement of immediate violence, but recognized that in the context it could be dangerous speech.

She also noted a different case that dealt with nudity and a person transitioning gender. She said that the case posed questions about trans expression and the company’s nudity policies.

“We had a real debate over this question and obviously it implicated the political and ideological leanings of members of the board their sensibilities,” she said.

The origin of the Facebook Oversight Board

Nossel starts out setting the stage for the start of Facebook’s Oversight Board, noting the social media platform’s early embrace of free speech and eventual turn to more moderation.

She said she’s been on the board for about two years and said that she had some initial concern about joining it — but that the idea of an independent board was worth trying and could be better than relying on governments.

“I sort of thought by process of elimination, that this international body of experts was something worth trying and that it was better to be part of the experiment and try to shape it,” Nossel said.

The challenges of tech moderation

Our first panel of the day is: “What to Take Down, What to Leave Up, and Why,” featuring Suzanne Nossel, CEO of PEN America, a human rights and free expression organization. Mary Anne Franks, a law professor at George Washington Law School, is hosting the panel.

Nossel is a member of the Facebook Oversight Board, which was founded to help the company engage outside experts around questions of how to moderate its platform.

Tech moderation remains a technically challenging and politically fraught topic. Many major tech companies made major changes to their policies and hired specialized teams to more aggressively and thoroughly moderate their platforms, but layoffs combined with growing political pushback from Republicans has reined in some moderation efforts.

Good morning from Aspen

It’s a bright and windy morning here in Aspen, where we’re getting ready for a big day of discussion.

Breakfast is served.

What’s up first on Tuesday’s agenda?

Our live blog coverage will begin with a session titled “What to Take Down, What to Leave Up, and Why.” The discussion between John McWhorter and Suzanne Nossel will be about the legal and ethical implications of content moderation online.

Nossel sits on the Facebook Oversight Board and is the CEO of PEN America, a human rights and free-expression organization. McWhorter is a professor at Columbia University, where he teaches linguistics, American studies, and music history.

Here’s what you missed Monday

Among Monday’s speakers were the heads of Chevron and GM.

Asked how he felt about the attacks on diversity, equity and inclusion programs, Chevron CEO Mike Wirth said such programs were critical to Chevron’s strategy.

“I think the business case for DE&I is overwhelmingly evident,” he said.

Follow NBC News for more coverage of the festival

Wirth said Chevron needs the skills and talents of people from all different backgrounds, to source people from every country, every culture, every ethnic and racial background.

“And then we need them to be their best selves. … If we can’t have that, we won’t have the talent to deal with these big challenges,” he said. “We are not turning away because it’s part and parcel of our business strategy and our success depends on it.”

GM CEO Mary Barra offered three tips to young professionals for success in the auto industry. She told them to find their passion, work hard and do every job as though it’s the job they’ll do for the rest of their lives.

“Don’t rent a job; do it like you’re going to own it,” Barra said.