I talked to a guy who used to work for one of these companies. ... And one of their shticks was, “Oh, we’re going to use social media data to figure out if you’re a great credit risk or not.” And people are like, “Oh, are they going to look at my Facebook posts to see whether I’ve been drinking out late on a Saturday night? Is that going to affect my credit score?”

And I can tell you exactly what happened, and why they actually killed that. It’s because with your social media profile, they know your name, they know the names of your friends, and they can tell if you’re black or not. They can tell how wealthy you are, they can tell if you’re a credit risk. That’s the shtick.

And my consistent point of view is that any of these companies should be presumed to be incredibly racist unless presenting you with mountains of evidence otherwise. Anybody that says, “We’re an AI company that’s making smarter loans”: racist. Absolutely, 100 percent.

— Voices from the Valley by Ben Tarnoff, Moira Weigel