Facebook is $24 billion richer after Mark Zuckerberg's testimony to Congress

Diamond And Silk

Under mounting pressure over the hijacking of its user data by a British political consultant, Mr Zuckerberg reiterated his apology for the historic breach, before being grilled over how Facebook collects and protects people's personal information.

"But I think you have to be careful about putting regulation in place".

Zuckerberg faced questions about the future of his company. He cited figures from the Federal Drug Administration indicating there are 35,000 online pharmacies accessible through Facebook, and that "96 percent are operating illegally".

"When Zuckerberg and chief operating officer Sheryl Sandberg keep talking about users being in control, sure, that true", Ms Johnston said.

Some US lawmakers were particularly concerned about the way Facebook tracks users around the web with the use of like and share buttons, and a hidden script called Facebook Pixel.

SELYUKH: Well, we learned that even Zuckerberg could not escape the data grab. Yesterday, though, he said that "a free version" of Facebook would always exist, adding fuel to long-simmering speculation that the company might one day offer a subscription-based service.

Even if you're not logged in, the company can still associate the data with your IP address and all the websites you've been to that contain Facebook code.

The Facebook CEO said he is 'committed to getting this right, ' after acknowledging that it was a mistake not to notify the millions of affected users back in 2015 that their data had been compromised when the firm first learned of Cambridge Analytica's activity.

Senators asked Zuckerberg some tough questions about issues around Facebook privacy policies, how they allowed the data scrape to happen, if they tracked people who aren't on Facebook and why self-regulation will not work. Do you think we are actually going to see more government right regulation?

On Wednesday, Zuckerberg hedged when Rep. Jan Schakowsky, D-Ill., asked if Facebook would extend the European Union rules to the United States.

Sales pitch: North Dakota Republican representative Kevin Cramer made a not-so-subtle push for Facebook to set up shop in his home state and hire content reviewers in Bismarck, North Dakota, where "people might be more diverse than Facebook". It also includes data about you pulled from other Facebook users' contacts lists, no matter how tenuous your connection to them might be.

On Wednesday, Rep. Lujan pressed Zuckerberg on what data Facebook collects on people who don't have accounts with the social network. Businesses upload their in-store sales data in spreadsheet format and then Facebook matches that data with the people that saw its ads. "The industry needs to work with Congress to determine if and how we need to strengthen privacy standards to ensure transparency for billions of consumers", said Judiciary Chairman Chuck Grassley (R-IA). You don't know how many apps you need to audit.

SELYUKH: I mean, it's Congress.

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