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Zuckerberg gets richer after his testimony to Congress in data scandal

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Zuckerberg gets richer after his testimony to Congress in data scandal

Update - Shortly after this story was published indicating that Facebook had not contacted Diamond & Silk, they tweeted an update that Facebook has now contacted them, the day after Zuckerberg's second hearing.

Zuckerberg also appeared willing to work with lawmakers on possible regulations, which we think may actually create a barrier to entry in the social network space and help Facebook maintain its market leadership.

Although the 33-year-old had never testified at a congressional hearing before, he succeeded in deflecting questions like a Washington veteran. It wasn't clear to me who they are and under what circumstances they got that information.

It was a two-day interrogation with dozens of questions - some of them acute, some of them rambling, a few quite freakish. "Some things are striking during this conversation", she said.

"Platforms like Facebook have overwhelming incentives to extract the maximum amount of value and data out of us", Hartzog said. On Monday, the company began letting its users know if they were one of 87 million people whose data may have been shared improperly with Cambridge Analytica, a political research firm. He gave no further details.

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Facebook said last week that almost 1.2 million of its users in the Philippines may have had their data exposed to Cambridge Analytica, more than any other country outside the United States. So, to put those numbers into better perspective, that means around 36.38 million people in the USA have deleted the Facebook phone app, while 19.26 million have deleted their accounts altogether.

"The big mistake that we've made looking back on this is viewing our responsibility as just building tools, rather than viewing our whole responsibility as making sure that those tools are used for good", Zuckerberg said in an answer to a question from Sen. Some researchers won't even have access to it unless they are physically in Facebook's headquarters in Menlo Park, California, he said. "That goes for data on users that click on your profile, how much time they spend on it, and what parts they mostly explore".

"I think there is some cause for concern but rest assured that the USA will not allow Facebook to fail for the simple reason that Facebook is one of their success stories". He refrained from cracking jokes and flashed few smiles. While this week the Silicon Valley giant's stock has experience a modest recovery as its CEO appears calm and collected in front of US lawmakers, the high-flying FAANG stock saw roughly $100 billion shaved off its market capitalization in the weeks following its latest data crisis. He did not name specific companies.

"Theres a difference between what you are putting into Facebook and what Facebook is collecting about you", Howard said.

Many Democrats disagreed, saying their Republican colleagues held no genuine interest in having a meaningful debate that could lead to a regulatory overhaul of how technology firms handle data.

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