top of page

By:

Correspondent

23 August 2024 at 4:29:04 pm

Algorithmic Anarchy

The NEET paper leak protests at Delhi’s Jantar Mantar should have remained a legitimate expression of student anger over the collapse of examination integrity. Instead, as the agitation escalated into clashes with the police, abusive sloganeering and an increasingly radical political campaign, Meta’s algorithms emerged as an invisible force multiplying the unrest. The controversy surrounding the brief removal of Prime Minister Narendra Modi’s message to the youth in the aftermath of the...

Algorithmic Anarchy

The NEET paper leak protests at Delhi’s Jantar Mantar should have remained a legitimate expression of student anger over the collapse of examination integrity. Instead, as the agitation escalated into clashes with the police, abusive sloganeering and an increasingly radical political campaign, Meta’s algorithms emerged as an invisible force multiplying the unrest. The controversy surrounding the brief removal of Prime Minister Narendra Modi’s message to the youth in the aftermath of the protests only reinforces that concern. Meta has attributed the takedown to a “technical glitch” and apologised. But when the world’s largest social media platform can temporarily suppress the message of the elected leader of the world’s largest democracy during a politically charged moments, the issue extends well beyond a single deleted post. Who decides what India sees? That question has become impossible to ignore during the Cockroach Janta Party’s protests. Across Instagram and Facebook, users have reported being inundated with CJP videos, reels and protest clips despite never following the organisation or engaging with similar political content. Whether this resulted from coordinated paid collaborations, recommendation algorithms or both deserves a thorough investigation. But the larger democratic concern is that public opinion is increasingly being mediated not by citizens, journalists or elected representatives, but by opaque algorithms designed in Silicon Valley and optimised for engagement rather than democratic responsibility. Meta’s recommendation engine is not a passive notice board. Every piece of political content that reaches millions has first been selected by an algorithm whose workings remain largely hidden from public scrutiny. This is hardly unique to India. Around the world, Meta has repeatedly been accused of amplifying polarisation, misinformation and political extremism because outrage keeps users engaged. From elections to ethnic conflicts and episodes of civil unrest, the company has faced persistent criticism that its commercial incentives reward divisive content over balanced discourse. Democracies cannot afford to outsource the architecture of public debate to corporations whose primary obligation is to shareholders rather than constitutional values. While citizens are entitled to challenge governments and demand accountability, there is an important distinction between a movement that expands because people are persuaded and one that appears to be algorithmically amplified into omnipresence. Equally disturbing has been the normalisation of abusive political language during the protests. When such content is repeatedly amplified through recommendation systems, platforms cease to be neutral intermediaries and become active participants in degrading democratic discourse. Platforms that influence elections, protests and public opinion must explain how political recommendations are generated and why particular narratives receive extraordinary amplification. Silicon Valley companies insist they are merely technology platforms. But their algorithms increasingly exercise editorial power. When software determines which protests dominate national conversations and whose voices disappear, technology has already become politics.

The Difference Between Being Rich and Looking Rich

The real question is whether income builds assets or merely funds appearances.

Bharath was 29 years old, working at a reputed multinational company in Pune with an annual package of Rs 24 lakh. Among friends and relatives, he was considered highly successful. He drove a luxury car purchased on EMI, upgraded his phone every year, travelled frequently, and regularly posted pictures of expensive cafés and vacations on social media.


From the outside, Bharath looked rich. During a financial consultation, however, a different picture emerged. A substantial portion of his monthly income went toward car EMIs, personal loans, credit card bills, rent, dining, and lifestyle spending. Despite earning well for several years, his investments were minimal. He had no emergency fund, inadequate insurance coverage, and almost no retirement planning.


In accounting terms, Bharath’s income statement looked impressive, but his balance sheet was weak.


Illusion of Wealth

Around the same time, another client, Sameer, visited for tax planning. Sameer earned significantly less than Bharath — around Rs 11 lakh annually. He did not own a luxury car and avoided unnecessary debt. Instead, he consistently invested part of his income into mutual funds, maintained emergency reserves, and purchased adequate health and term insurance early.


Five years later, the financial gap between the two had grown wider than their income gap. Bharath continued earning more, but much of his income went toward maintaining a lifestyle. Sameer, despite a modest salary, had built financial security, a stable investment portfolio, and a growing net worth.


This difference reflects an important reality that Chartered Accountants frequently observe — income creates lifestyle, but assets create wealth.


Many individuals today mistake spending capacity for financial strength. In reality, wealth is not determined by what a person displays publicly but by what they own after liabilities are deducted. A luxury vehicle financed through long-term debt may improve social perception, but financially it remains a depreciating asset with recurring obligations.


The rise of instant credit and EMI-based consumption has further blurred the distinction between affordability and accessibility. Just because a person qualifies for a loan does not mean the purchase strengthens their financial position.


True Financial Health

From a Chartered Accountant’s perspective, true financial health is measured not by outward displays of wealth but by fundamentals such as a steadily growing net worth, disciplined investing, controlled liabilities, adequate liquidity and insurance coverage, and long-term capital creation. These indicators may not always be socially visible, but they determine long-term financial stability.


Bharath’s story is no longer unusual. Across urban India, many young professionals are earning more than previous generations, yet carrying greater financial pressure because lifestyle expansion has overtaken asset creation.


Cost of Appearances

The real difference between being rich and looking rich ultimately comes down to one question: Is income being used to build assets or merely to fund appearances?


(The writer is a Chartered Accountant based in Thane. Views personal.)

Comments

bottom of page