Facebook's Zuckerberg survives 10 hours of questioning by Congress
- Author: Tracy Klein Apr 14, 2018,
Apr 14, 2018, 13:48
In the hearings, Zuckerberg is trying to both restore public trust in his company and stave off federal regulations that some lawmakers have floated. Liberal senators kept asking questions about data privacy, while some of the conservative senators seemed to be more interested to learn about why Facebook is harder on conservative Facebook groups than liberal ones.
"It is clear from congressional testimony that self-regulation alone is not working and that regulatory oversight is needed in the United States in order to ensure safe social media.".
Yet the hearings in Washington managed to showcase the normally press-shy Zuckerberg's ability to perform as an able and well-rehearsed, if a bit stiff, CEO of one of the world's biggest companies - and the degree to which much of Congress appears befuddled about technology and the relevant issues.
"In that specific case, our team made an enforcement error, and we have already gotten in touch with them to reverse it", he said. Because they want to be a neutral platform, which means that they are not subject to any laws requiring that they monitor illegal activity and things like that.
Dingell expressed frustration with Zuckerberg's frequent promises to get back to lawmakers later in writing. "Some things are striking during this conversation", she said. Now, you know that and I know that.
Members pressed Zuckerberg on the company's privacy policies and often declared that Facebook needs to do more to protect user data.
Facebook CEO Mark Zuckerberg told a House oversight panel Wednesday that he believes it is "inevitable" there will be regulation of the social media industry and also disclosed to lawmakers that his own data was included in the personal information sold to malicious third parties.
Building on their existing bug bounty programs, the new system will effectively pay people who report and provide evidence that a Facebook platform app is improperly using people's data by stealing it or using it for scams and political influence.
As for the federal Russian Federation probe that has occupied much of Washington's attention for months, he said he had not been interviewed by special counsel Mueller's team, but "I know we're working with them".
Patience with the social network had already worn thin among users, advertisers and investors after the company said last year that Russian Federation used Facebook for years to try to sway USA politics, an allegation Moscow denies.
"While Facebook has certainly grown, I worry it has not matured".
"This is a complex issue that deserves more than a one-word answer", Zuckerberg answered. Facebook stock ended Tuesday up 4.5%, and ticked up another 1.5% in trading Wednesday.
"Let's say $5 a month, or $50 per year - not a significant cost to anyone - but you start getting a few percentage points of participant penetration into the 2-plus billion users, it's a lot of revenue and it doesn't come with any additional costs", Feinseth said in a phone interview.
On Tuesday the social media tycoon took questions from the US Senate for almost five hours, but resisted repeated efforts to get him to support new regulation.
Zuckerberg revealed in the hearing Wednesday that his own data was exposed as well.