Mark Zuckerberg tangles with Congress on control of Facebook data

When asked whether Facebook can exist without collecting and selling user data, the tech-genius replied: It would not be possible for our services to exist, without having the option for users to put in the content and then sharing. We are sticking with our wide-moat rating and $198 fair value estimate for Facebook. Bob Latta (R-OH) pressed for detail on how long it would take to complete the audit, Zuckerberg declined to comment on the time needed to review a single app but said the overall process would take "many months". And Facebook has come under fire many times for not clearly explaining how the data it collects is used. The firm also plans to assign around 20,000 people to work on security and content. I think it's time to ask whether Facebook may have moved too fast and broken too many things. Facebook shares closed up 0.78 percent on Wednesday after rising 4.5 percent Tuesday.

If you go and like The Daily Caller on Facebook, you can actually set your preferences to make sure you see every piece of our content, not just what Zuckerberg wants you to see. Zuckerberg told Rep. Gene Green (D-TX) today that enhanced privacy protections like those afforded to European users under GDPR would be extended to others around the world.

Zuckerberg in his testimony in front of the United States lawmakers agreed that Facebook tracks internet users through hundreds of millions of web pages.

As Mark Zuckerberg testified before Congress on Tuesday, shares of Facebook closed by up more than 4.5 percent to end trading. Ahead of the hearings, the company announced that not only had Cambridge Analytica improperly gathered data from up to 87 million users-rather than the previously reported 50 million-but also "malicious actors" had exploited the site's search features to collect information from "most" of its two billion users.

"You are using Facebook to hurt people", he told Zuckerberg.

He claimed that "there's a very common misperception. that we sell data to advertisers", adding that "we do not sell data to advertisers".

Facebook is implementing the GDPR standards for European users next month, and some of its rules will be extended to USA and other users later, he confirmed.

Mark has previously mentioned that he believes that the social media industry needs to be regulated, and he reiterated that view on being questioned by Rep. Fred Upton.

The reaction of Facebook's chairman and CEO - a middle-grade air of panic, a brief awkward silence and nervous laughter - made it clear he doesn't dwell as thoughtfully on universal privacy issues as much as he wants us to think he does.

"When you say that you deem us "unsafe to the community", what you're saying is that we are a danger to our community", Diamond said.

"Zuckerberg's testimony demonstrated that the company has matured over the last decade, in particular in his acknowledgment that Facebook is responsible for the content shared on its platform", said University of DE communications professor Dannagal Young.

"But I am committed to getting this right, and that includes the basic responsibility of protecting people's information, which we failed to do with Cambridge Analytica", he said.

And what we know about social media networks and the Internet in general is that they're good at marshalling and gathering a kind of force behind a campaign.

On a question if Facebook has a political bias, he said the platform's goal was not to engage in political speech.

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