Should Mark Zuckerberg be Facebook's chairman and CEO? Some investors say no
16 April, 2018, 11:44 | Author: Sammy Rose
U.S. Rep. David McKinley, R-W.Va., questioned Facebook CEO Mark Zuckerberg about the advertisements when Zuckerberg was before the House Energy and Commerce Committee on Wednesday.
Nevertheless, Zuckerberg was light on details about how Facebook would better police political ads, according to University of North Carolina Professor Daniel Kreiss.
"In essence Mr. Zuckerberg is not accountable to anyone". The incident wiped off billions from Zuckerberg's wealth while Facebook's stock prices slumped in a week.
Last week, in a session with the USA lawmakers, the 33-year old Zuckerberg admitted that he took the blame for the data scrape and emphasized that user privacy is of utmost importance to the firm. Inexplicably, Zuckerberg tried to say he wasn't completely sure about Facebook's data collection policies, and one of his underlings could follow up later.
Facebook users who downloaded their data from the service last month were surprised to find years-long logs of so-called "metadata" from their text messages and phone calls, including names and phone numbers. "They are already having conversations about how they cannot only make sure their current systems better protect user privacy and autonomy, but how artificially intelligence systems they are using can have ethical alignment built in by design", said Ms McEvoy.
"We know that drug dealers, doctors and pharmacists running pill mills, and distributors in the pharmaceutical industry are responsible for the scourge of the opioid epidemic, but when it was brought to our attention that these drugs are being sold on Facebook, we needed to take steps to address it", McKinley said in a statement Friday. Cambridge Analytica is a United Kingdom based political consultancy hired by the 2016 Trump campaign. Inside Facebook, Sandberg runs point, marshaling company resources and assembling SWAT teams to make good on promises Zuckerberg made to Congress and Facebook users. This fact should raise questions about other mediums that have access to our information that we are unsuspecting of, like Facebook applications.
"Coming out of the Cambridge Analytica scandal as it were, I don't think it is as sinister as the media and the congress and the senate in the U.S. are portraying it to be". FB, the $480 billion, 4th largest corporate giant in the world, generates $40 billion in advertising a year by trading data about the personal lives and preferences it has harvested from account holders.
People seem to be taking notice of how closely they're being targeted by marketers using Google and Facebook's tools. Facebook brags to advertisers that it can provide "cross device" targeting, as it is called.
"The biggest growing segment for these social media platforms is the youth, and they grew up with this, so they know all their data is being collected, and they know they don't have privacy", said Detert. So it was a theoretical "yes" by Zuckerberg for more internal regulation; and another "yes" for more investment in artificial intelligence (AI) to detect security breaches and fake news. If I go to the Toys R Us site or Babies R Us site looking for little tykes outdoor swing sets, I go back on fb. ads come up on my page and many other things I have searched. Only a dramatic data diet can curb the worst downsides of Facebook.
The incident wiped off billions from Zuckerberg's wealth while Facebook's stock prices slumped in a week. In the end, despite Zuckerberg's protests, Facebook feels like it pretty much has the monopoly.
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