Facebook CEO Mark Zuckerberg Testifies Before Congress

Someone taking a selfie outside LA

Facebook CEO Mark Zuckerberg Testifies Before Congress

As many as 87 million Facebook users may of had their personal data shared with Cambridge Analytica, spurring a chorus of voices calling for more regulation of the tech sector.

Analysts and investors keep close tabs on Facebook's user statistics as a way to gauge the company's financial health. Say you're a company that makes camping tents, you can go to Facebook and say 'hey, we're a tenting-camp company in Nova Scotia, here's our ad and we want you to show this ad to men and women between 20 and 35 who have gone to a national park, for example.

Then the congressman took us down an Alice in Wonderland-style rabbit hole, where people who do not use Facebook are told to log in to their Facebook accounts to find out what data Facebook holds on them.

Zuck didn't really have an answer because, well, Facebook doesn't really have a direct competitor.

Forbes, which tracks real-time data to create the ranking of the world's billionaires, lists him as the seventh richest person in the world.

Zuckerberg: Congressman, I do not know off the top of my head but I can have our team get back to you afterward. During the House committee hearing on Wednesday, Zuckerberg claimed not to know what "shadow profiles" are, even though this term has been used for years to describe Facebook's collection of data about people who don't use its services by harvesting the inboxes and smartphone contacts of active Facebook users.

Kogan denied handing over the information to Cambridge Analytica for use on any of its campaigns.

We have Congressman Ben Luján to thank for a discovery that might come to hang around Zuckerberg as he battles to save his company's image.

However, Facebook depends on selling users' data and violating their privacy.

Later on, Rep. Barton read Zuckerberg a letter from a constituent voicing concern over Facebook's treatment of the conservative women and asked the tech giant for his response. That's also what makes Facebook so bad: It knows everything about you.

With the first hearing on Tuesday and the second on Wednesday, Zuckerberg confessed a variety of ways Facebook has misused user data.

"But I am committed to getting this right, and that includes the basic responsibility of protecting people's information, which we failed to do with Cambridge Analytica", he said. Third parties will no longer be able to make quite such free use of the unfathomable quantities of data that Facebook accumulates.

"In addition to adding 10k incremental safety/security heads, Facebook is likely ramping up technical staff to help put out the new fires around privacy and lack of controls/oversight in their automated systems", he said, which likely means "lower operating margins going forward for the company".

One of the most talked about things after Facebook CEO Mark Zuckerberg's grilling by almost 100 USA lawmakers over two days had little to do with the congressional hearing and everything to do with how he was sitting.

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