Zuckerberg’s Second Day Testifying on Capitol Hill
Dear Friends & Neighbors,
(Please click on red links & note magenta)
At 10:00 am this morning, Wednesday, April 11, 2018, Zuckerberg faced the panel of congressional lawmakers for the second time, answering more questions. His appearance on Tuesday was helpful in gaining confidence in Facebook with Wall Street, stock value went up about 2.5% at the beginning of the hearing around 2:20 pm ET and up to an increase of 4.5% in value by the end of the day.
Facebook stock value dropped by 11% from its high $195.32 per share in February, resulting from reports by The Guardian, The New York Times, and Channel 4, of misused user data. Cambridge University researcher Aleksandr Kogan created a personality app in 2013, with about 300,000 users, but was able to access information associated with millions of Facebook users’ accounts. Apparently that data was later used by another firm, Cambridge Analytica (a company affiliated with President Donald Trump’s campaign), against Facebook’s rules.
On Tuesday, Zuckerberg told the joint Senate Judiciary and Commerce committees that Facebook was striving to correct issues with its platform. With regard to the app and Cambridge Analytica mentioned above, Facebook did take down the app and demanded that the app developer and Cambridge Analytica to delete and stop using any and all users’ data they had. Zuckerberg testified that Facebook did not notify the Federal Trade Commission about the Cambridge Analytica data leak years ago because Facebook considered it closed.
It is apparent that our lawmakers will be incorporating Zuckerberg’s insight to help establish effective future U.S. regulations safeguarding privacy of internet users. In this case, there are as many as 87 million Facebook users’ personal data in question.
As we step into the age of data accumulations, there will be undoubtedly a period of learning curve. Facebook CEO Mark Zuckerberg will be assisting with the charge in conquering privacy security for personal data of Facebook as well as many other social media platforms or business models. You may be interested in seeing/reading about what EU had already established to protect EU citizens’ data, adopted on April 27, 2016, and became enforceable from May 25, 2018: General Data Protection Regulation
You may also be interested in reading about Data Protection Directive, a European Union Directive adopted in 1995 which regulates the processing of personal data within the European Union. It is an important component of EU privacy and human rights law.
Below, is “Facebook CEO Mark Zuckerberg faces second day of testimony” of CBS New:
Below, is Mark Zuckerberg’s full testimony before House Energy & Commerce Committee, on second day on Capitol Hill, of Time:
For FTC (Federal Trade Commisssion)’s Privacy & Data Security Update 2016), please click HERE.
For Privacy & Data Security Update: 2017, please click HERE.
For Q&A guide to data protection in the United States, please click HERE.
Below, is “Zuckerberg faces Congress: the biggest highlights from day two“of Guardian News:
Below, is “Five key moments from Mark Zuckerberg’s testimony” from Guardian News:
Below, is “Day 2 Highlights: Zuckerberg’s House Testimony“of Bloomberg:
Gathered, written, and posted by Windermere Sun-Susan Sun Nunamaker
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