18.04.11 Zuckerberg Testifies

April 11, 2018
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WHAT THE ZUCK?

$4,706
Cost of a Harvard dorm room the year Facebook was created there.



$2,800,000,000
Amount of money Facebook founder Mark Zuckerberg made TuesdayA as the stock rose 4.5% A following his Capitol Hill testimony.A

flip for what he said

GROWING PAINS

‘I think it’s pretty much impossible to start a company in your dorm room & then grow it to be at the scale that we’re at now without making some mistakes.”



Why it matters:
The 33-year-oldA ditched his trademark t-shirt & jeans for a navy suit, but repeatedly reminded senators of Facebook’s early days.

CAMBRIDGE ANALYTICA

“If we find that they’re doing anything improper, we’ll ban them from Facebook and we will tell everyone affected.’



Why it matters:
Zuckerberg vowed to investigate “tens of thousands of apps” & audit suspicious activity after Cambridge Analytica collected 87M users data.

Click for Refresher

FAKE NEWS &
HATE SPEECH

‘I agree that we’re responsible for the content.’



Why it matters:
This one is a biggie. Zuckerberg previously claimed that Facebook is not a media company, and takes no responsibility for what gets posted on the platform. This new admission could spell major changes for tech.

RUSSIA INVESTIGATION

‘I know we’re working with them.’



Why it matters:
He said he hadn’t been interviewed by special counsel Mueller’s team, but offered few detailsA citing confidentiality. Mueller has charged 13 Russians in a plot to interfere in the 2016 presidential election through social media propaganda – some of which was on Facebook.

NEW LAWS COMING?

‘I’m not the type of person who thinks that all regulation is bad.’



Why it matters:
Republicans have yet to back it, but the Senate’s #2 Republican John Cornyn says people expect action. That said, in testimony Zuckerberg had to explain Facebook’s basic workings, highlighting how unprepared Congress is to impose game-changing rules.

Overall, Zuckerberg came out largely unscathed in the nearly 5 hours of testimony. Facebook stock rose 4.5% on what investors deemed a positive performance. Zuckerberg will appear before the House Energy and Commerce Committee at 10AM ET today.

by Jenna Lee,

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