Would you pay to use Facebook? They may owe you money
- Author: Leroy Wright Apr 15, 2018,
Apr 15, 2018, 2:34
"Yes", Zuckerberg said when Congresswoman Dana Louise DeGette asked whether Facebook has witnessed no significant increase in users deactivating their accounts. Facebook stock ended Tuesday up 4.5%, and ticked up another 1.5% in trading Wednesday.
Some speculated that the 33-year-old social media chief may have requested the seat to appear taller, more authoritative and imposing during the grilling. Graham wanted Zuckerberg to be more specific: Does Facebook have any real competition for its core product, the social media site?
After the initial relief of learning I wasn't part of the Facebook privacy breach, I'm ashamed to admit also feeling a little bit left out.
And last week the European Union had said that its justice commissioner, Vera Jourova, would hold phone talks with Facebook's chief operating officer Sheryl Sandberg to discuss what the company is doing to address the breach, which may have affected 87 million people around the world.
Zuckerberg didn't say yes but explained that some data related to non-Facebook users is collected for security reasons and to prevent mass scrapping of user data on the platform.
The information was collected through an app that users used Facebook to sign into.
Why Facebook rejected a seemingly harmless advertising campaign by a state senator candidate from MI. Facebook is embroiled in controversy over how the company handles the sensitive information it collects from its 2 billion users. He repeatedly apologized again during his Congressional testimony.
Zuckerberg took full responsibility for the incident.
Zuckerberg mostly held his composure, repeating numerous same well-rehearsed answers: He is sorry for the company's mistakes. "And I'm sorry. I started Facebook, I run it, and I'm responsible for what happens here".
Users create useful advertising profiles by being active on the platform as much as possible, although Facebook also collects data across the web that users do not actively provide. At one point, he noted, "After we were slow to identify the Russian information operations in 2016, this has become a top priority for our company - to prevent that from ever happening again, especially this year, in 2018, which is such an important election year with the USA midterms, but also major elections in India, Brazil, Mexico, Hungary, Pakistan and a number of other places". The company is still investigating the Cambridge Analytica incident. Back then when users downloaded their Facebook data, many of them found information in the files, such as phone numbers and birthdays, that they never gave to Facebook in the first place.
To be sure, the government sent out a set of questions to both companies immediately after the data breach case came to light.
He also revealed that his firm was exploring whether to take action against the University of Cambridge.
Instead Facebook let the political consultancy self-certify that it had destroyed the records, which it said had been acquired in violation of the social network's rules.
Members of the audience hold up signs and wear sunglasses that read "Stop Spying" before CEO Mark Zuckerberg arrives to testify before a joint hearing of two Senate committees on Capitol Hill in Washington, April 10, 2018.
House Energy and Commerce Chairman Greg Walden said the committee will look at what could be done.
Matt Hancock has warned Facebook it is "not above the law" and could face stricter regulation, following a meeting with representatives of the social media giant.