It's been a year since Mark Zuckerberg went before Congress, and social media platforms are still under fire for how they police hate speech and privacy. Here's what you need to know.
One year ago, Facebook CEO Mark Zuckerberg told Capitol Hill lawmakers grilling him over the company's personal data fumbles that he believed regulation was"inevitable."
By and large, while potentially hefty fines loom from the Federal Trade Commission and from regulators abroad, Facebook has proven it's still able to keep users and advertisers on its platforms, if not win back their trust entirely. Over the past 12 months, Facebook's stock has rallied about 11% as investors have gained back confidence on the heels of the company's strong Q4 2018 earnings report in January. In 2019 alone, the stock has risen about 33%.
Facebook's more forthcoming approach to regulation mirrors the way it has changed its communication about misinformation and privacy breaches. Zuckerberg once dismissed the idea that misinformation on Facebook could have influenced the U.S. presidential election in 2016 as a"pretty crazy idea.
Since its inception, Facebook has appealed to users by promising to bring the world closer. But that promise seemed to fall flat after disinformation spread by foreign actors on the platform deliberately drove a wedge between Facebook users during the run-up to the 2016 presidential election. But in a December post on his Facebook page, Zuckerberg pushed some of the blame onto"shady apps that abused people's data," following the release of internal emails about the company's decision to change its developer platform several years ago.
Zuckerberg solidified Facebook's pivot to privacy in a 3,000-word note in March outlining his vision for the future of the internet.
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