Zuckerberg unscathed by congressional grilling, stock rises

Published
3

WASHINGTON: Face­book Inc Chief Executive Mark Zuckerberg fielded 10 hours of questions over two days from nearly 100 US lawmakers and emerged largely unscathed and considerably richer.

He parried questions of how much control people have over their data on the world’s largest social media network without a major gaffe, while avoiding being cornered into supporting new government regulation.

Read: Why Zuckerberg is winning the Facebook hearings

The hearings that ended on Wednesday revealed no consensus among US lawmakers about what kind of privacy legislation they might want to pursue, if any, and no timeline for action. As he did on Tuesday before a Senate hearing, Zucker­berg refused during a House of Representatives committee hearing to make any pro­mises to support new legislation or change how the social network does business.

“It is inevitable that there will need to be some regulation” of internet firms, Zuck­er­berg said, but he avoided any specifics.

Although Zuckerberg, 33, had never testified at a congressional hearing before, he succeeded in deflecting questions like a Washington veteran.

Forty times the internet mogul told lawmakers he had no answers at hand and would get back to them later. About one in three lawmakers got that response over the two days.

Democratic Represen­ta­tive Debbie Dingell expres­sed frustration with Zucker­berg’s frequent promises to get back to lawmakers later in writing. “Some things are striking during this conversation,” she said. “As CEO, you didn’t know some key facts.”

On one point, Zuckerberg undercut his consistent message that Facebook users have control of their data. He said he was among the nearly 87 million people whose personal information was improperly shared with political consultancy Cambridge Analytica. He gave no further details.

His admission that even the company’s tech-savvy founder was unable to protect his own data underscored the problem Facebook has in persuading sceptical lawmakers that users can easily safeguard their own information and that further legislation governing Facebook is unnecessary.

Published in Dawn, April 13th, 2018

Follow Dawn Business on X, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Fixing bond markets
Updated 01 Oct, 2026

Fixing bond markets

Pension funds, insurance companies, mutual funds, retail investors, and eventually, foreign investors must become bigger participants in the market.
Call centre rackets
01 Oct, 2026

Call centre rackets

A NUMBER of recent raids conducted by the authorities in different cities point to the growing threat fraudulent ...
Homeward bound
01 Oct, 2026

Homeward bound

FIVE months after Somali pirates captured an oil tanker carrying a 19-member multinational crew, Somali maritime...
Kashmir unresolved
Updated 30 Sep, 2026

Kashmir unresolved

The just solution lies in India addressing the issue through a trilateral dialogue involving the legitimate representatives of the Kashmiri people and Pakistan.
Water shortage
30 Sep, 2026

Water shortage

THAT the country is entering the Rabi season with an anticipated water shortage of nearly 25pc, the lowest carryover...
Young hearts
30 Sep, 2026

Young hearts

THE observance may have passed, but the message of World Heart Day should not fade with it. The occasion is a useful...