Congress happy with Mark Zuckerberg's answers - FB rallies +4%

in news •  last year  (edited)

So Mark Zuckerberg struck a somewhat apologetic tone with congress over the last 2 days. He effectively took responsibility for the recent data breach which resulted in about 80mil users' profiles being leaked. He suggested a number of new controls that will be built into FB which generally was proactive in light of the situation. Congress seemed happy with the responses they got. I think this will result in a stronger and more secure FB but engagement will likely reduce as security measures hurt ease of use.

Here is the summary video from bloomberg:

https://www.bloomberg.com/news/videos/2018-04-11/watch-the-highlights-from-mark-zuckerberg-s-marathon-congressional-testimony-video



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Hope it also that FB will be secure in the future.😉 If they can to this, FB will get more stronger out of this scandal👍

Even if his performance has been well-received by the markets, there were plenty of people who called him out for his robotic responses and unsatisfactory responses to more challenging questions. As the new generation stops engaging with Facebook due to it already having their parents on it and as Facebook deals with its current mess, I think it will stagnate. Where else can Facebook go?

interesting view... in my experience network effects are very difficult to break... also i think that the privacy story has been over played now... most people wont even remember it in a months time. Its still a marketing juggernaut so my view is sideways and then grind higher from here

I have not been that upset over the data breach. I know that everything that goes into Facebook (and here) is public. I simply do not post anything that I don't want people to see.

wow,,
great news

Zuckerberg temporarily saved fb, with over 2 billion current users, fb is matured company, I expect revenue to decline significantly in the next few years.

why tho... they still have a lot of smart people there... they will find a way to make money...thats what they do

Fuck you Mark suzkershits. If anybody deserves to be raped by giraffes it’s that guy.