Facebook CEO Zuckerberg aims to pacify US lawmakers

Facebook data scandal adds to cloud over tech stocks

Facebook data scandal adds to cloud over tech stocks

Billy Long asked the 33-year-old during the line of questioning whether or not FaceSmash, the women-ranking site Zuckerberg started prior to Facebook which had used Harvard's school directory, was still operational. Users, businesses and organizations that have data collected can ask businesses such as Facebook whether or not personal data is being processed, and what the information is being used for.

It also faults his stances that further legislation governing Facebook's use of data is unnecessary.

Lujan: Do you know how many points of data Facebook has on the average non-Facebook user? So if you've signed up for, say, Uber using Facebook, Uber now has your information.

The data scandal wiped away tens of billions of dollars from Facebook's market value, prompted political scrutiny on both sides of the Atlantic and even raised the once unthinkable question of whether Zuckerberg should step down as CEO. There are two kinds of privacy issues on Facebook: one having to do with what users are sharing with other people, and another to do with what they're sharing with advertisers and other third parties by sharing on Facebook at all.

Investors appeared to like Zuckerberg's debut on Capitol Hill.

If Facebook or any other company fails to meet the standards of these new regulations, the European Union will fine data collectors up to 4 percent of their annual global turnover or €20 million.

And do we as users have the right to complain about the privacy of our data even if we don't have the patience to dig through the legalese that explains what Facebook does with it?

The data was improperly shared with Cambridge Analytica by an academic who gathered data on users and their friends through a questionnaire app on Facebook.

Patience with the social network had already worn thin among users, advertisers and investors after the company said last year that Russian Federation used Facebook for years to try to sway US politics, an allegation Moscow denies.

Testifying at a joint hearing of United States senate's judiciary and commerce committees that lasted around five hours, Zuckerberg sounded contrite about mistakes, owning up to them personally, as he sought to assure lawmakers, some of whom appeared clearly sceptical, they won't be repeated. Shares in Facebook posted their biggest daily gain in almost two years on Tuesday, closing up 4.5 percent. They posted their biggest daily gain in almost two years on Tuesday as Zuckerberg managed to deter any specific discussion about new regulations that might hamper Facebook's ability to sell ads tailored to users' profiles. "Senator, yes", said the Facebook CEO.

"I've turned it off several times now", she said.

Some people we spoke to say they don't use Facebook for this specific reason. He was cut off.

"I think he's sorry he has to testify in front of Congress", Kelly said.

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