Facebook CEO, Mark Zuckerberg Cambridge Analytica Data Scandal

 

 

 

Facebook CEO Mark Zuckerberg

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Facebook CEO Mark Zuckerberg

On Wednesday, Mark Zuckerberg defended Facebook’s business model  against fierce criticism of how it feeds user data to advertisers, even as he admitted his own personal information had been leaked to outside companies.

The U.S. Federal Trade Commission is investigating Facebook Inc over its use of personal data,  after a whistleblower said a political consultancy hired by Donald Trump improperly accessed information on 50 million Facebook users to sway public opinion.Speaking in the wake of a scandal over the massive leak of data to a British political consultant, Zuckerberg reiterated that the company had shut down the pipeline that allowed such data, including his own, to slip into the hands of third parties.

Talking  on the scandal over the massive leak of data to a British political consultant, Zuckerberg restated that the company had shut down the pipeline that allowed such data, including his own, to slip into the hands of third parties.

Facebook CEO Mark Zuckerberg

 

“The only way we’re going to close this trust gap is through legislation that creates and empowers a sufficiently resourced expert oversight agency, with rulemaking authority to protect the digital privacy and ensure that companies protect our users’ data.”

“The internet is growing in importance around the world in people’s lives, and I think that it is inevitable that there will need to be some regulation,” he said. – Accepts European standard but… – Zuckerberg said the European standard, General Data Protection Regulation (GDPR), to come into effect on May 25, was more stringent than what was currently in place at Facebook and suggested it could serve as a rough model for US rules in the future.

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

He admitted his own personal information had been leaked to outside companies.

When asked whether Facebook would implement outside Europe the specific GDPR standard that allows people to opt out of the use of their data for direct marketing, Zuckerberg resisted any commitment. “I’m not sure how we’re going to implement that yet,” he said.

 

The billionaire Facebook founder was challenged more directly by Democratic Representative Anna Eshoo: “Are you willing to change your business model in the interest of protecting personal privacy?” “Congresswoman, I’m not sure what that means,” he replied. Related

Mark Zuckerberg has clearly apologized for the facebook Analytical data scandal which has knocked off nearly $46 billion in the social media giant’s stock valuation this week.

“This was a major breach of trust, and I’m really sorry that this happened,” Zuckerberg said  this while elaborating on the statement he posted to his facebook page earlier toda

Zuckerberg has come under harsh criticism on social media for not explicitly apologizing in his earlier post.

 

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