came under fire following the revelation that Cambridge Analytica, a
UK-based political firm hired by Trump for the 2016 campaign, had
improperly accessed information on 50 million users.
news has wiped-off almost $50 billion from Facebook’s market value
as investors fear the dealings with Cambridge Analytica could
permanently damage the social network’s reputation, deter
advertisers and invite tougher regulation.
and CEO Mark Zuckerberg made his first public appearance since the
scandal broke, addressing the Cambridge Analytica revelations on
33-year-old billionaire told the news network that he would be happy
to appear before US Congress "if it's the right thing to do".
was a major breach of trust, and I'm really sorry that this
happened," he added.
latest data privacy scandal surrounding Facebook wiped $50 billion
from its market value
did not explicitly apologise for the improper use of data by
Facebook, and his plans did not represent a big reduction of
advertisers' ability to use Facebook data, which is the company's
has said the data was harvested by Aleksandr Kogan, a psychology
academic, who created an app on the platform that was downloaded by
says he then violated its policies by passing the data to Cambridge
requested the data of 50 million users be deleted from its database,
but allegedly never followed-up to check its users’ information was
safely disposed of.
don't know about you, but I'm used to when people legally certify
that they are going to do something, that they do it,” Mr Zuckerberg
I think this was clearly a mistake in retrospect.”
Nix, the head of Cambridge Analytica who was suspended last month,
said in a secretly recorded video that his company had played a
decisive role in Trump's election victory.
Lewis shares money advice with Facebook followers
the time, Facebook’s settings allowed app developers to access the
personal data of not just the people who used their app, but of all
of their friends as well.
Zuckerberg said Facebook has already taken the most important steps
to prevent such a situation from happening again.
told CNN the site would be reviewing thousands of apps in an
will ban developers who do not agree to an audit, and an app's
developer will no longer have access to data from people who have
not used that app in three months.
said he was confident Facebook could "get in front" of the problem.
isn't rocket science. There's a lot of hard work we have to do to
make it harder for nation states like Russia to do election
interference," he said.