How to facebook owner
Facebook CEO Mark Zuckerberg answers questions, addresses possibility of regulation
Timecodes:
our users actually safe the space book
being safe senator I think Facebook is
safe I use it and my family use it and
all the people I love and care about use
it all the time why should we trust
Facebook to make the necessary changes
we have made a lot of mistakes in
running the company do you think the
average consumer understands what
they're signing up for I don't think
that the average person likely reads
that whole document the Facebook founder
and CEO taking the hot seat for the
first time facing tough questions from
over 40 US senators one of the primary
concerns Facebook's growing role in our
elections what is Facebook doing to
prevent foreign actors from interfering
in u.s. elections one of my top
priorities in 2018 I was to get this
right one of my greatest regrets in
running the company is that we were slow
in identifying the Russian information
operations in 2016 we expected them to
do a number of more traditional cyber
attacks which we did identify and notify
the campaign's that they were trying to
hack into them but we were slowed
identifying the type of new information
operations swapping out his signature
gray t-shirt and jeans for a suit
Zuckerberg remained stoic sitting calmly
for nearly five hours we've seen the
apology tours before your User Agreement
sucks the two days of congressional
hearings called as a result of that
controversial Cambridge analytic a data
breach is Facebook keeping track of your
phone calls and your text messages many
now questioning whether their
information is truly safe on the social
networks Cambridge analytics
reportedly breached the profiles of tens
of millions of users the Millennial
billionaire first arrived in Washington
on Monday meeting privately with
lawmakers then dodging questions from
reporters mr. Zuckerberg are you doing
enough to protect your users this week
87 million Facebook users are receiving
a notice on their feeds informing them
their personal data was shared with the
political consulting firm during the
hearings Ucker Berg took personal
responsibility for the social networks
failure to safeguard users privacy that
was a big mistake and it was my mistake
and I'm sorry I started Facebook I
and I'm responsible for what happens
here I think Mark Zuckerberg is gonna
sleep a lot better tonight than he did
last night he came in sounding
well-prepared knowledgeable he certainly
owned up to his mistakes which is an
important thing to do
Zuckerberg admitting Facebook has been
used to spread fake news in hate speech
it's clear now that we didn't do enough
to prevent these tools from being used
for harm as well there are a great many
Americans who I think are deeply
concerned that Facebook and other tech
companies are engaged in a pervasive
pattern of bias and political censorship
there have been numerous instances with
Facebook in May of 2016 Gizmodo reported
that Facebook had purposely and
routinely suppressed conservative
stories from trending news including
stories about CPAC including stories
about Mitt Romney including stories
about Glenn Beck to a great many
Americans that appears to be a pervasive
pattern of political bias do you agree
with that assessment senator let me say
a few things about this first I
understand where that concern is coming
from because Facebook in the tech
industry or located in Silicon Valley
which is an extremely left-leaning place
all right this is actually a concern
that I have and that I try to root out
in the company is making sure that we
don't have any bias in the work that we
do and I think it is a fair concern
there are people in Russia whose job it
is is to try to exploit our systems and
other internet systems and other systems
as well so this is an arms race I mean
they're gonna keep on getting better at
this and we need to invest in keeping on
getting better at this - last year
Facebook estimated that 146 million
Americans saw Russian linked content
during the election lawmakers blasted
the company for not doing more to stop
it
saying that companies like his have been
given too much Liberty and need to be
regulated I come in peace I don't want
to vote to have to regulate facebook but
my god I will lot of that depends on you
Zuckerberg also admits that starting the
company at such a young age may have led
to its imperfections it's pretty much
impossible I believe to start a company
in your dorm room and then grow it to be
at the scale that we're at now
about making some mistakes the
entrepreneur was just 20 years old when
he and some college friends built the
first Facebook your actions could have
permanently destroyed everything I've
been working on the drama behind
Facebook's development highlighted in
the Academy award-winning film The
Social Network I'm not talking about a
dating site I'm talking about taking the
entire social experience of college and
putting it online
Facebook is now ubiquitous worldwide
with more than 2 billion users logging
on each month sharing everything from
photos to status updates where they work
even their religious and political
beliefs but with that growing number
there are increasing concerns about who
has access to a user's personal
information one of the threats with your
data on Facebook is your phone number it
might have been scraped by scammers or
other malicious actors who want to use
your information to spam you or to steal
your identity part of the problem may be
built into Facebook how do you sustain a
business model in which users don't pay
for your service senator we run ads
Facebook makes billions by selling ads
based on all the data they're collecting
in 2017 the company boasted revenues of
a whopping forty point seven billion
dollars earlier this month Facebook's
chief operating officer Sheryl Sandberg
was information people had already
listed on Facebook publicly now that
doesn't make it okay she pointed out
that Facebook is free and suggested
users may need to pay to stop Facebook
from collecting and using their data to
sell ads are you actually considering
having facebook users pay for you not to
use that information
senator people have a control over how
their information is used in ads in the
product today I think what Sheryl was
saying was that in order to not run ads
at all we would still need some sort of
business model I actually might be
willing to pay I would like to snow is
there a number that you will totally
protect my privacy not use my
information for any advertising any
personalized targeted stuff at all
what's the price I'd like to know that
price concerned about his own privacy
Apple co-founder Steve Wozniak announced
that he's deactivating his Facebook
account
joining the delete Facebook movement it
just sort of hit a breaking point for me
just last month it was Facebook in the
crosshairs of its own data breach if you
are looking at trying to create
information weapons you're the the
battlespace that you operate in is
social media that's that that is where
the fight happens Chris Wylie worked at
Cambridge analytic a consulting firm
which helps political candidates better
target voters online Wylie claims that
in the summer of 2014
Cambridge analytic I used a third party
to take data from the Facebook accounts
of roughly 87 million Americans
weaponizing the internet weaponizing the
Internet absolutely
two years later Cambridge analytic Oh
went on to work for the Trump campaign
but says it never used that data in
question the campaign itself denies
using Cambridge analytic it saying it
relied on information from the RNC
Cambridge analytic AHA's denied any
wrongdoing
why didn't Facebook ban Cambridge in
2015 why'd you wait so this is this is
clearly one of the questions that I
asked our team as soon as I learned
about this is why did we wait until we
found out about the reports last month
to to ban them but for those whose data
has already been compromised
the breach may have far-reaching
consequences right before Zuckerberg
appeared on Capitol Hill Facebook in
Cambridge analytic were hit with a
class-action lawsuit accusing the
company of misusing personal information
it's unlikely that people will stop
using Facebook the social network has
essentially become a utility it not only
owns Facebook but it owns Instagram and
whatsapp and a number of other companies
the social media site says it's doubling
down on security increasing the number
of employees working on security from
10,000 to 20,000 Zuckerberg calm careful
and contrite demeanor played well
Facebook stock increased four and a half
percent I think Mark Zuckerberg is
comfortable being Mark Zuckerberg I
believe Facebook is the canary in the
coalmine they're the biggest so they're
obviously going to get the most scrutiny
here
is adjourned for nightline I'm Mary
Bruce in Washington
hi everyone George Stephanopoulos here
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