Monday, 21 May, 2018

Facebook CEO's compensation jumps to $8.9 million as security costs soar

Someone taking a selfie outside LA Facebook CEO's compensation jumps to $8.9 million as security costs soar
Sammy Stanley | 14 April, 2018, 12:54

Facebook has been in the spotlight since news broke last month that the personal information of 87 million users had been illegally harvested by consultancy firm Cambridge Analytica in an attempt to influence political outcomes. "You didn't know that FTC doesn't have fining authority and that Facebook could not have received fines for the 2011 consent order".

Facebook is neither a media or a financial institution, he said.

"We're gathering as much information as possible about every user on the internet, and that information is being used to not only watch people, but influence them, predict what they are going to do, change what they are going to do".

Facebook is implementing the GDPR standards for European users next month, and some of its rules will be extended to U.S. and other users later, he confirmed. The site has access to your data and can do with it whatever it pleases, as evidenced by the Facebook-Cambridge Analytica debacle. "And frankly, we didn't do enough to prevent that or understand it soon enough" Zuckerberg said during testimony on Thursday.

While Washington appears unlikely to pass any new data privacy or security regulations in the near term given the current political atmosphere, Facebook and other technology companies with users in Europe will soon have to comply with new controls from the European Union.

Facebook CEO Mark Zuckerberg's testimonies before Congress nearly had the feel of entering a parallel universe.

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Lujan: It's been admitted by Facebook that you do collect data points on non-[Facebook users]. My question is, can someone who does not have a Facebook account opt out of Facebook's involuntary data collection?

McGinn had a unique job at the company: He was tasked with tracking the public's perception of Zuckerberg and Sandberg at a time when it seemed to many like the Facebook CEO might run for president.

In a certain exchange between Senator Lindsey Graham and Zuckerberg, Graham asked if the CEO felt that Facebook has become a monopoly.

"And those questions have included whether Facebook can track user's browsing activity even after the user has logged off of Facebook, whether Facebook can track your activity across devices even when you are not logged into Facebook". It shouldn't be surprising that perhaps we are not going to have as productive a conversation if people are using the same words to mean different things and they are not coming from the same place. Facebook also owns Instagram and WhatsApp, two of the most largely used social media apps in the world. "We're thrilled that Facebook has decided not to contribute any addition money to the opposition", Ross said.

The interviewer asked if Facebook would ever sell people's personal information, and Zuckerberg responded firmly in the negative. "In Canada, at least, the creation of that list and the targeting of that list is not regulated under Canadian elections law or Canadian privacy law and I think that is a shortcoming".

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