Mark Zuckerberg remains calm in final day of testimony — Transcript

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1. 0:00members of Congress hammered Facebook
2. 0:02CEO Mark Zuckerberg in his final day of
3. 0:04testimony on Capitol Hill he answered a
4. 0:06wide variety of questions from members
5. 0:08of the House Energy and Commerce
6. 0:09Committee yesterday Zuckerberg was
7. 0:11questioned for about 10 hours over two
8. 0:13days about his company's failure to
9. 0:16protect user data chip Reid is on
10. 0:18Capitol Hill chip good morning good
11. 0:21morning the questioning in the house was
12. 0:22more aggressive than it was Tuesday in
13. 0:25the Senate but Zuckerberg remained calm
14. 0:27and deferential he also revealed for the
15. 0:29first time that he was one of the 87
16. 0:32million whose personal information was
17. 0:34harvested by Cambridge analytical with
18. 0:37your data included in the data sold to
19. 0:40the malicious third parties your
20. 0:43personal data yes lawmakers peppered
21. 0:46Mark Zuckerberg with a wide range of
22. 0:48questions especially on Facebook's
23. 0:50willingness to protect user data you are
24. 0:53collecting personal information on
25. 0:56people who do not even have Facebook
26. 0:58accounts isn't that right I don't think
27. 1:00that that's what we're tracking there
28. 1:02was a tremendous bias against
29. 1:03conservative news and content and a
30. 1:06favorable bias towards liberal content
31. 1:09there is absolutely no directive and any
32. 1:12of the changes that we make to have a
33. 1:13bias and anything that we do are you
34. 1:15willing to change your business model in
35. 1:17the interest of protecting individual
36. 1:19privacy
37. 1:21congresswoman we are have made and are
38. 1:24continuing to make changes to reduce the
39. 1:26amount about are you willing to change
40. 1:27your business model in the interest of
41. 1:30protecting individual privacy
42. 1:33congresswoman I'm not sure what that
43. 1:35means the number of issues reflects the
44. 1:38unprecedented amount of global power
45. 1:40that Facebook actually has Tristan
46. 1:42Harris of the Center for Humane
47. 1:43Technology thinks the fundamental
48. 1:45problem is Facebook's business model in
49. 1:472017 Facebook earned nearly 40 billion
50. 1:50dollars in advertising revenue a 49%
51. 1:53increase from the previous year about
52. 1:55one in five dollars spent in online
53. 1:58advertising went to Facebook last year
54. 2:00its business model is to keep people
55. 2:02hooked and to basically make your mind
56. 2:05as influenceable as possible to
57. 2:06advertisers Zuckerberg said he believes
58. 2:09government regulation of social media is
59. 2:12now inevitable and there
60. 2:13some support on both sides of the aisle
61. 2:15but the chances of passing major
62. 2:17legislation in this divisive election
63. 2:19year are slim at best John at best Thank
64. 2:23You chip