The senators who tried to attack Zuckerberg on Capitol Hill with their questionnaire were silenced by the CEO of Facebook as he accepted his responsibility towards the society and the users. He also asked for forgiveness to Congress for the faults that eventually led to the scandal of Cambridge Analytica.
He had to answer the questions about the data collection system of Facebook and the monopoly power of his company during the hearing in Senate. However, there wasn’t enough time to follow up the questions asked by 44 senators. The CEO of Facebook couldn’t answer some of the questions including why Facebook didn’t inform the users about the scandal of Cambridge Analytica in 2015 when it came to light.
When the chairman of the Commerce Committee John Thune raised the question of trustworthiness, Mark admitted that he had made some mistakes and he’s going to incorporate some serious changes in terms of running the company.
The Cambridge Analytica data firm used the information of 87 million Facebook users and that too without their knowledge. The scandal heavily affected the market value of Facebook by wiping away tens of billions of dollars and gave birth to the unthinkable query of whether Mark Zuckerberg should resign as CEO. The scandal boiled down to the concern of Facebook’s impact on the civil discourse and on the privacy of its users.
Mark Zuckerberg agreed that he’ll appear again in front of the Commerce Committee and the House Energy on Wednesday. Instead of opting for his usual grey t-shirt and jeans, Mark chose a dark blue suit and paired it with a light blue tie to appear in front of the Congress for the first time on Tuesday. Despite the scandal, at the end of the day, the Facebook share was up by 4.5O%.
Though Zuckerberg accepted the fact that Facebook has failed to prevent the misuse of the platform, he refused to acknowledge Facebook as a media company and confirmed that it’s a tech company. He accepted his responsibility for the content but he also added that Facebook isn’t the company that produces the content.
The assurance of the Facebook CEO about following regulations did not convince all the senators, but Mark Zuckerberg concluded saying that he’s ready to accept the general regulations.