Sci-tech

Facebook is $24 billion richer after Mark Zuckerberg's testimony to Congress

Facebook is $24 billion richer after Mark Zuckerberg's testimony to Congress

Facebook founder Mark Zuckerberg visibly seemed perturbed and defiant at the same time during the second and last day of his testimony to the US Congress on Wednesday.

In other words, Zuckerberg has taken some blame, but he doesn't want his company to be sued for its actions (or inaction). He also said Facebook does not collect information from users' verbal conversations through mobile devices' microphones.

By the time of the hearing's first break, Facebook's share price had risen by 5% - adding £3bn to his net worth.

The company said it was investigating comments Nix made in an undercover recording, which said Cambridge Analytica could secretly compromise political rivals by arranging smear campaigns, setting up encounters with prostitutes and staging bribery situations.

Facebook is neither a media or a financial institution, he said.

"So my position is not that there should be no regulation but I also think that you have to be careful about regulation you put in place".

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Regarding the Cambridge Analytica issue, Zuckerberg said it will take "many months" to complete an audit of other apps that may also have improperly gathered or shared data. Republicans pressed him on whether Facebook suppresses conservative views. No one asked Zuckerberg about that, though his notes, which an Associated Press photographer spotted on his desk, showed he was prepared for the question. "Diamond and Silk is not terrorism!" "What is unsafe about two black women supporting Donald J Trump?" one of the legislators asked.

Mr. Zuckerberg repeatedly said he was open to regulations but that it would have to be the "right" regulations with the right details. We do pay to help produce content.

Zuckerberg replied that the average American uses eight different apps to communicate.

Larry Buschon, a Republican from IN, brought up a concern about Facebook listening IN on people's conversations. "Some things are striking during this conversation", she said.

Facebook does have a policy to remove or hide content they deem unsafe or hate speech. It's "Pretty obvious to me someone is listening to the audio on our phones", said the congressman.

This has a lot of people frustrated with Facebook.

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"The profiles that Facebook builds on non-users don't necessarily include so-called "personally identifiable information" (PII) like names or email addresses", Gillmor said.

The company has always denied these allegations.

Sen. Lindsey Graham started his line of questioning asking Zuckerberg to list Facebook's top rivals; Zuck tried to break out the company's competitors into categories (category No. 1: other tech platforms, aka Google, Apple, Amazon, Microsoft), but Graham dismissed that attempt with a vehicle analogy.

Zuckerberg asserted that Facebook did not sell data.

In both hearings before the Senate, Zuckerberg only mentioned two kinds of data: the information that people decide to share on the platform, and the data that is automatically collected about people's behavior.

Facebook has been slammed for failing to protect the data of more than 50 million users.

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Near the end of the session, Debbie Dingell, a Democrat from MI criticised Zuckerberg's lack of knowledge of his own company. "As CEO, you didn't know some key facts". Please excuse my redundancy, I know that some members have already asked you about some of these subjects. The company has always been accused of creating these "shadow profiles". It's not a messaging app where you can sext or talk to corporate robots, although it's that, too.


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