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Mark Zuckerberg says Facebook is not a monopoly

12 Avril 2018

The announcement came from Facebook's boss Mark Zuckerberg as he answered questions in front of the US Senate's Judiciary and Commerce Committees yesterday.

So Zuckerberg, who owns more than 401.4 million shares in Facebook, got almost $3 billion richer in the past few days.

Once again wearing a dark suit instead of his usual gray T-shirt, the hearing was Mr Zuckerberg's second in two days. Citing a recent Facebook series about Patriots quarterback Tom Brady, Walden asked directly, "Is Facebook a media company?"

So far, Mark Zuckerberg has skated through his congressional testimony without so much as a bruised pinkie.

He said: "One of my greatest regrets in running the company is that we were slow in identifying the Russian information operations in 2016".

"Do not consider ourselves as a financial institution though we help people send each other money. We do not sell data to advertisers".

Zuckerberg also fielded questions from Congressman G.K. Butterfield, who pushed the company on diversity, noting that all of the five leaders listed on the Facebook website are white.

Rep. Billy Long questions Facebook CEO Mark Zuckerberg in front of a large poster of Diamond and Silk
Rep. Billy Long questions Facebook CEO Mark Zuckerberg in front of a large poster of Diamond and Silk. Joe Perticone

Facebook uses the data you provide, such as where you live and how old you are, and combines it with geographic information from your phone to tailor ads to a certain audience.

Barton had asked about what data Facebook shares with third parties about people under the age of 18.

Amid rising calls for legislation to better protect the data that social media and other internet companies siphon off from users, Zuckerberg said he accepted that legal restrictions of some sort were in the cards - while adding a word of caution. Earlier this week, notifications began appearing at the top of News Feeds to let users know if they used the This Is Your Digital Life quiz app, which is the app that allowed the data firm to harvest information from up to 87 million users.

Overall, the US Senate failed to get any real blows in on Zuckerberg and Facebook and that was largely down to a lack of knowledge about the platform.

Facebook said company officials have been in contact with the pair. "It will take some time to work through all of the changes we need to make, but I'm committed to getting it right". Zuckerberg would rather explain how to keep your boss from seeing your Instagram posts from your "sick day".

35% said they were using Facebook less than they used to over the privacy issue. Zuckerberg responded, "I'm not sure what that means".

Mark Zuckerberg says Facebook is not a monopoly