mr. zuckerberg. in the absence of massive federal regulations telling you how to do your business, the responsibility bar goes really, really high. and i think coming back to what mr. griffith says, i think you uys need to look at an outside entity of some sort to help you bounce off ideas of thousand to legal this stuff before or market forces drive you to a place that you're not going to want to go. >> the gentleman's time has expire. the chair recognizes the gentleman from new york, mr. tonko, for four minutes. mr. tonko: thank you, mr. chairman, thank you, mr. dorsey, for all the time you've given the committee. i want to echo my dismay that our republican colleagues have chosen to hold this hearing to rile up their base and give credence to unsupported conspiracies when there are real issues here that run to the heart of our civic life that deserve our immediate attention. it is unfortunate and a missed opportunity on behalf of our majority. mr. dorsey, i know that twitter has said it is taking s

mr. zuckerberg testified which is 155 i don't think you have seen the capitulation volume you saw in march. which indicates that's where we are headed quite frankly i don't think you have to do anything in earnings. i think 80s no touch for a month. >> it's a perception problem 785 million in cambridge 50 million now perception problem. carter is on the desk. talking about technicals the hundred week moving average is 162.52. stopped on a dime. probably six times that's. >> that's not going to save him. >> i agree with that. >> the bottom line here -- i read about this on.com a couple days ago winners and losers in the data privacy world markey mark just told us that facebook is a service it's a community it's not their data brokers that's their asset and they can't protect you they cold told you on the second quarter earnings call they don't know the cost to protect it this is a security problem this is the core asset in the world -- think about data today as we thought about oil ten years ago. it's the new oil it's the asset everybody is trying to figure out what we have and i think you'

mr. zuckerberg. in the absence of massive federal regulations telling you guys how to do your business, the responsibility bar goes really, really high. and i think coming back to what mr. griffith says, i think you guys need to look at an outside entity of some sort to help you bounce off ideas of how to address this stuff before legal or market forces drive you to a place that you're not going to want to go. >> the gentleman's time is expired. the chair recognizes the gentleman from new york, mr. tonko forks fo tonko, for four minutes. >> thank you, mr. chairman, and thank you, mr. dorsey, for being here. we give credence to unsupported conspiracies when there are real issues here that run to the heart of our specific life that demand our immediate attention. it is an unfortunate and missed opportunity on behalf of our majority. mr. dorsey, i know that twitter has said it is taking steps to help make political advertising more transparent on the platform and it is now working to do something similar

mr. zuckerberg. n the absence of massive federal regulation telling you how to do your business the responsibility is really high. coming back to what mr. griffith says, you need to look at the outside entity of some sort to bounce off ideas before the market forces drive you to a place you are not going to want to go. >> thank you mr. dorsey to all the time you have given the committee also for those to run up their base when there are real issues that run to the heart of our civic life and deserve our immediate attention. it is a missed opportunity. twitter has said it has taken steps for transparency and is now working with this issue but unfortunately even under political ads. so if a user visits a politicians website immediately they can see the platform. to find a different resource and then search for the politicians it seems ill advised when your competitors are doing it differently. and that research regarding how best election advertising information. >> we did do some research but we want t

so it's been a tough year for facebook and what comes next is important if mr zuckerberg and his team want to rebuild trust in the social media giants well as of now if a spook cuz fix the issue but the company shares fell on its c.e.o. mark zuckerberg net worth plunged by some two billion dollars a security researcher we spoke to thinks that could in fact have been much worse than that facebook must keep working on bolstering its security because an awful lot of infrastructure an awful lot of users to protect and watch the fifty million users impacted by this plus the additional forty million they've taken extra measures to protect us still only a few percent of facebook's total user base so whilst this is a very large breach it could have been a lot worse i think that any effort they can put into bettering their stance on security is always good in terms of how effective that will be we can only really wait and see what the outcome is as we progress into the future well another tech giant tesla lost some one and a half billion dollars overnight after funder schools accused of fraud

mr. zuckerberg.in the absence of massive federal regulations telling you guys how to do your business, the responsibility bar is really high. coming back to what mr. griffith says, you need to look at an sort toentity of some help you bounce off ideas of how to address this stuff before legal or market forces drive you to a place that you are not going to want to go. >> gentlemen, tie. the chair recognizes the gentleman from new york. >> thank you for all the time you have given the committee. i want to echo my dismay that our republican colleagues have chosen to pull this hearing to rile up their base and give credence to unsupported conspiracies when there are real issues here that run to the heart of our civic life that deserve our immediate attention. missedn unfortunate opportunity. has said ittwitter is taking steps to help make political advertising more transparent. it is now working to do something similar with issue ads. today, i amwitter concerned that even for political ads, you haven't m

mr. zuckerberg committed to do, that removes some of the conflict. because at the end of the day, if your business model is driving you in one direction, all your good intentions may not help consumers who really are demanding it. thank you for letting me go over, mr. chair. >> thank you. and senator wicker. >> thank you very much. this late in the hearing, let see if we could summarize and make sure where we are with regard to the positions of all of the companies you represent. there is a fundamental principle that any federal privacy legislation should include preemption of state data privacy laws. do each and every one of your company as agree that our federal legislation should include preemption? mr. cali. >> yes. >> mr. devore? >> another qualified yes, senator. the details matter a lot. i do think it is essential to avoid the risks that we've identified which is a patch work of state laws that have the risk of being imposing regulations that don't actually serve the core interest that i think we're all focused on today which is ensuring that

mr. zuckerberg was here testifying before congress. it seems to me that facebook has been pretty active at finding and taking down things that should not have been out there. the recent iranian takedown of russian things that have been taken down. do you want to talk -- what is the big challenge of being at the forefront of trying to figure this out from a business perspective or a liability perspective? i will come to mr. dorsey with the same question. ms. sandberg: i appreciate what you have said because we have been investing heavily in our system and decreasing the dissemination of fake news and transparency. you are seeing that payoff. we have all set in private meetings as well as this public discussion. tighter coordination really helps us. some of the information we got from law enforcement and some we can share with other companies. this is a big threat and our opponents will keep getting better. we have to get better. the more we can work together , the better off we will be. that is why i appreciate the spirit with which thi

mr. zuckerberg was testifying. i'll stand by that but at some point valuation matters.nd today on the other side i thought it traded well activen this news. it had every tonight to sell off a couple% and didn't. >> i agree i agree. it opened down down 2 plus more% down a third%. i thought it traded well also. i think this part, the founders leaving is a side show to the main issues that face facebook and october 31st is the next earnings release to see how are the expenses -- it was the margin compression we saw last time that freaked the street out. i come back to valuation again and i want to own this business at this price. >> see, you know, i agree with that historically. but i think the way people are viewing the company is very different. and so i've talked about this before and the way i soo he it is they're -- the companies that sell your data and our data brokers like facebook, twitter, google, and those companies that use your data to improve your experience and then sell you things, which is railroad different to me. and i think getting kurt consumer data rig

mr. zuckerberg will be getting called back to cam toll hill -- capitol hill soon. jeff paul, thank you very much. molly: a firmer u.s. military commitment in syria could be in the works. president trump is backing military plans to keep a military presence there until iran leaves the war-torn country. earlier this month, the president describing our mission in syria. >> eradicating isis which is why we're there. and we're very close to being finished with that job and then we're going to make a determination as to what we're going to do. >> let's bring in retired u.s. army lieutenant colonel daniel davis, a defense priority senior fellow and military expert. thank you for joining us today, lieutenant colonel. >> my pleasure. molly: let's start with this, according to the president's special envoy to syria, the president believes that a continued u.s. presence there in the country is necessary, but not necessarily boots on the ground. what do you think should happen with the u.s. military presence there? >> well, i will tell you, i'm in a big supporter of what the p

mr. zuckerberg was here testifying before congress, seems like to me that facebook has been pretty active in finding and taking down things that should not have been out there the recent iranian takedown, the russian things that have been taken down, you want to talk a little bit -- what is the big challenge about being at the forefront of trying to figure this out from a business perspective or a liability perspective, either one that i'm going to come to mr. dorsey with the same question. >> well, i really appreciate what you said, because we have been investing very heavily in people in our systems, in decreasing the dissemination of fake news in transparency. and i think that's what you're seeing pay off i think we've all said in private meetings we have had as well as this public discussions that tighter coordination really helps us if you look at our recent takedowns, some of it was information we found ourselves, some of it were hints we got from law enforcement, some of it our information we can share with other companies and so this is a big threat. and our opponents are going to

mr zuckerberg is undoubtedly a tech genius but does the 34—year—old have the capacity, indeed the energyebook, before it breaks democracy?" evan joins us now. first of all, how critical is this moment for facebook? this is the ha rd est moment for facebook? this is the hardest thing they have been through in the started in 2004 and they realise that this is not the kind of ordinary business crisis that you get to. this is an existential risk to the future of the company. he had a huge ambition to grow this company. i guess the question is can you now take that same ambition to fixing the problems in their company? does he have the will to do that? he has the power to do it, does he have the will? in some ways, it isa does he have the will? in some ways, it is a unique predicament he is in because many of the lessons he learned over 14 years, the things he used to survive, to succeed, like looking past criticisms from sceptics, pushing the boundaries of privacy and focusing above all on growth, those things today are gradually going to work against him. he has to be willing to put some of

mr. zuckerberg was here testifying before congress, seems like to me that facebook has been pretty active in finding and taking down things that should not have been out there. the recent iranian takedown, the russian things have been taken down. what's the big challenge at being at the forefront of trying to figure this out from a business perspective or liability perspective, either one? and then i'm going to come to mr. dorsey with the same question. ms. sandberg: well, i really appreciate what you said because we have been investing very heavily in people, in our systems, in decreasing the dissemination of fake news and transparency. i think that's what you're seeing pay off. i think in the private meetings we had and this public forum, tighter coordination helps us. the takedown, some was information we found ourselves. some were hints we got from law enforcement. and some we can share with other companies. people will get better and we have to stay ahead. the more we can all work together the better off we're going to be. that's why i really appreciate the spirit with which this hea

mr. zuckerberg? is it quantifiable? is it moral?y did get a lot luckier than they knew at the time. our colleagues at bloomberg intelligence valued instagram alone at 100 billion a few months ago. i would point towards the brilliant cover story that sarah frier wrote that instagram is facebook's next help. a lot of people do not know that facebook owns instagram. when they complain that facebook influences society, they then go on to instagram not realizing they are sending more dollars in zuckerberg's direction. tom: the jpmorgan institute makeson the gig economy it out to be a complete total fraud. london is dealing with this and new york is dealing with this. alex, what is your study of the wage economics of the gate economy -- of the gig economy? >> it is advantageous towards the people running the platforms. when it comes to places like europe where the rules are stricter, it is harder for those companies to operate. we have seen greater oversight and london -- in london. companies trying to get into it like a volkswagen, they

mr. zuckerberg was here i asked him about this idea after a breach. he says that it could make sense. no one favors that? okay. i'm going to take that as a no. then, the other piece of the legislation makes for simple language. so many of these privacy policies on your sites are very difficult to understand in our bill requires that online platforms make plain language disclosures regarding how personal data will be collected and used. do you think that would make sense to do something like that? anyone? >> we actually take a great deal of pride in the fact that it cross functional team of attorneys, technologies are perpetually working on making their privacy disclosures that ample and accessible at possible and would receive praise of a plea work in that area. >> mr. tribble. >> this year whereby a state completely. we started to consider how people would understand the basic information they needed to have about the type of information we collect when we use it and when we shared what we actually did a shared with nonlawyers in the people and asked what issues they have been trying

mr. zuckerberg was here testifying before congress. it seems to me that facebook has been pretty active at finding and taking down things that should not have been out there. takedown ofranian russian things that have been taken down. do a talk little bit about what is the big challenge of being at the forefront of trying to figure this out from a business perspective or a liability perspective? i will come to mr. dorsey with the same question. sandberg: i appreciate what you have said because we have been investing heavily in our system and decreasing the dissemination of fake news and transparency. you are seeing that payoff. we have also the tire coordination really helps us. -- that tighter coordination really helps us. some of the information we got from law enforcement and some we can share with other companies. this is a big threat and our opponents will keep getting better. more we can work together the better off we will be. blunt: how does the wherewn practice work legitimate accounts are sold and repurposed by others. what a

mr. zuckerberg was here testifying before congress, seems like to me facebook has been pretty active in findingng down things that should not have been out there. the recent iranian takedown, the russian things that have been taken down. you want to talk a little bit, what is the big challenge about being at the forefront of trying to figure this out from a business perspective or a liability perspective, either one? then i'm going to come to mr. dorsey, with the same question. >> well i really appreciate what you said because we have been investing very heavily in people in our systems and decreasing the dissemination of fake news and transparency. i think that is what you're seeing pay off. i think we've all said, in a private meetings we had as well as public discussion, that tighter coordination really helps us. if you look at our recent takedowns some of it was information we found ourselves. some of it were hints from law enforcement. some is information we can share with other companies. so this is a big threat. our opponents will keep getting better and we have to get better. we have to

mr clark told the bbc that the information commissioner will be taking steps with facebook to ensure lessons are learnt. the company says 50 million users worldwide were affected, including the founder mark zuckerberg against these attacks? we can speak now to amy pope, former deputy homeland security adviser to president barack 0bama and now a partner at schillings, a consultancy firm advising companies how to protect themselves from cyber attacks. what can companies do to protect themselves? in the very first insta nce themselves? in the very first instance companies need to realise this is a problem... it cannot be relegated just to the information technology department, it needs to be taken seriously by the company leadership. without that, you cannot get protections that companies need. they need to find way to test their defence secondary. if you have been told you have good defences that is all well and good but until you try out the compa ny‘s all well and good but until you try out the company's firewalls, to see if people can get phished easily, i think there could be a real problem that could really impact a company asa that could really impact a company as a whole. in your experience, a