Facebook CEO Mark Zuckerberg testified before Congress. The House Energy and Commerce Committee has released Facebook CEO Mark Zuckerberg’s testimony, and CNBC has printed it — though it hits familiar themes from Zuckerberg’s recent commentary on the company’s data-leak scandal.
Shares have risen today on the news that Facebook CEO Mark Zuckerberg has admitted some fault.
“It’s clear now that we didn’t do enough” to prevent Facebook’s good tools from being used for harm, Zuckerberg says in the prepared testimony. “That goes for fake news, foreign interference in elections, and hate speech, as well as developers and data privacy.
“We didn’t take a broad enough view of our responsibility, and that was a big mistake. It was my mistake, and I’m sorry. I started Facebook, I run it, and I’m responsible for what happens here.”
Facebook CEO Mark Zuckerberg’s testimony comes after a scandal rocked shares of the stock and caused many to question Facebook’s policies.
Recall that we recently learned that Cambridge Analytica improperly got a hold of, and then supposedly did not subsequently delete user information that it acquired, from an application that has data on over 50 million Facebook (FB) users.
This of course is a major concern in data control for Facebook. This has caused investors to shoot first, and ask questions later. This has led to Congressional hearings. We will see if anything comes from this, but we do know it was a buying opportunity in the stock. Few advertisers have indicated they would stop doing business with Facebook, and very few users have stopped using the service over this.
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