It's Facebook's toxic combination of unsettled privacy and corporate power that demands still more scrutiny: how a single player became so damn dominant, whether it leverages that dominance in anticompetitive ways, and ultimately what tools Washington might exercise, if any, in the face of that consolidation. And with the power many of these social media companies hold, they aren't likely to provide you answers.
Recent comments by Facebook executives also echo outside research conducted by analyst firms like Jefferies Equity Research.
Facebook CEO Mark Zuckerberg endured 10 hours of questioning this week from senators who inquired about topics like government regulation, the Cambridge Analytica scandal, and the company's perceived monopoly power on social media.
With controversy surrounding Facebook's collection of users' information, it is possible to find out exactly how much they know. While this week the Silicon Valley giant's stock has experience a modest recovery as its CEO appears calm and collected in front of USA lawmakers, the high-flying FAANG stock saw roughly $100 billion shaved off its market capitalization in the weeks following its latest data crisis. So a researcher built a personality quiz app under those guidelines, and people used the app - and in doing so, allowed it to harvest anonymized data from their Facebook profiles.
"But overall, I think that the ads experience is going to be the best one".
It was cobbled together by Zuckerberg after a night of drinking while still a student at Harvard, according to a blog he kept at the time.
"One thing that seems to be clear from everything that has taken place is that not everybody is talking from the same script", he said.
"While Facebook has certainly grown, I worry it has not matured".
Facebook is implementing the GDPR standards for European users next month, and some of its rules will be extended to United States and other users later, he confirmed. "The message they received last week was inaccurate and not reflective of the way we communicate with our community and the people who run Pages on our platform", the statement read. Orrin Hatch, a senator from Utah, even asked Zuckerberg how Facebook's business model works given that it is free. Facebook knows a fair amount about you. Zuckerberg was seemingly prepared for questions on a range of issues from Cambridge Analytica to Facebook's default-privacy settings.
Lawmakers were at times aggressive Tuesday as they accused Zuckerberg of failing to protect the personal information of millions of Americans from Russians intent on upsetting the USA election.
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