Monday, 20 May, 2019

Things We Learned From Mark Zuckerberg's Facebook Hearing

Patty Aguilar | 13 April, 2018, 01:27

Multiple congressional representatives asked Zuckerberg whether or not he would enforce GDPR for Americans, a question he repeatedly dodged by promising GDPR "controls" rather than "protections". "In fact he is 5'7" and, as he appeared before Congress in Washington this week, he used a booster cushion to appear tall on television. "I've just seen it over and over again - that we have the hearings, and nothing happens", Pallone said. At other times, Zuckerberg played up the company's global audience: something between 85-90% of Facebook's users are based outside the USA, creating a raft of unique problems.

In what many noted was poetic irony, considering the large volume of private data Facebook gathers about its users, Zuckerberg's printed notes from yesterday's hearings were captured in a photograph by AP photographer Andrew Harnik.

At the end of his testimony, Zuckerberg confirmed that there had been no change in Facebook usage as a result of the scandal, something Wall Street analysts had theorized would be the case.

Driving lawmakers' scrutiny is a controversy around Cambridge Analytica, a political consultancy tapped by President Trump's 2016 campaign that improperly accessed the names, "likes" and other personal information of millions of Facebook users.

The question and answer session was more heated and direct on the subject than Tuesday's hearing, which featured a grab bag of questions ranging from the Cambridge Analytica revelations to the basic facets of Facebook's business model. Each time Zuckerberg fielded a question about how Facebook is improving or plans to improve its ability to identify and cull accounts that are in violation of its policies, he leaned on AI. Information about users "is probably the most valuable thing about Facebook", Walden added.

"I agree that we need to work on diversity", Zuckerberg replied.

Sen Durbin said: "I think that maybe is what this is about". Zuckerberg was answering a question from Rep. Anna Eshoo, D-Calif., when he informed lawmakers about his personal data, a reference to the Cambridge Analytica scandal that has rocked his company over the past several weeks.

Israel Threatens to Topple Syrian Regime if Iran Makes Any Foolish Moves
This was a reference to the missile strikes against T4 Airbase in central Syria, for which, alleged Russia, Israel was responsible.

France 'has proof' Syria used chlorine
Macron said that he would respond "at a time of our choosing, when we judge it to be the most useful and the most effective". US President Donald Trump , who said on Wednesday that missiles were "coming", has now tweeted that he "never said when".

Valero Energy Corporation (VLO) 7.14% away from 20 SMA
Martin decreased its stake in Credit Suisse Group (Call) (CS) by 45.42% based on its latest 2017Q4 regulatory filing with the SEC. The ratio turned negative due to VLO positioning: 51 sold and 327 reduced. 108 funds bought holdings and 261 increased holdings.

Committee members of both parties asked Zuckerberg about the Cambridge Analytica data breach that resulted in the disclosure of personal information belonging to possibly 87 million people - as well as other matters relating to privacy of information on the website. Facebook allows users to share certain pieces of data, and once that data gets shared, it's often used for ad targeting.

"We didn't allow the Obama campaign to do anything that any developer on the platform wouldn't have otherwise been able to do", Zuckerberg said.

Zuckerberg said the European standard, General Data Protection Regulation (GDPR), to come into effect on May 25, was more stringent than what was now in place at Facebook and suggested it could serve as a rough model for United States rules in the future.

More than 44,000 people in Ireland may also have had their data improperly shared.

Rep. Tony Carednas, D-Calif., brought up the announcement of Tayler leaving the CEO post to Zuckerberg as the Facebook chief testified before the House committee on Tuesday.

"Mr. Zuckerberg, you've said you're sorry".

Harvesting the data and using it to target adsmore effectively than its competitors can is how Facebook makes the bulk of its money.

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