What you need to know about Facebook's Zuckerberg testifying on Capitol Hill
[MUSIC PLAYING] There is a large issue going on here, can we trust Facebook, this company that has more than two billion people using it every month, to control our data, to have all this information.
After this huge privacy leak where we have found out that up to 87 million people's data was given to this analytics firm that then turned around and used it on elections and campaigns It's terrible, and so now Congress wants to know what do we do about it, and who's responsible, and how is this gonna get fixed?
Congress can do pretty much anything it wants, right?
It can Might write a law to anything and the scary part is that Congress usually doesn't understand technology very well.
So if they write a law that makes things very onerous for Facebook it can be bad for them and can be bad for the entire History, and up until now Silicon Valley has been relatively meddling free.
There are two things that people are really gonna be watching for.
One, is Mark Zuckerberg himself.
He's not known as an out there personality, and this is gonna be as much about theater as it is about policy in explaining what happened That's gonna be one.
The other is gonna be Congress itself.
Congress has this long history of misunderstanding technology, which is part of why they haven't regulated it much.
And so, if he doesn't get across the right information or convince Congress of what he's trying to tell them, then things could go really sideways.
Congress is likely trying to figure out what laws or regulations need to be put in place to solve this issue, right.
It's an election year, they need to do something, so that's part of it.
The other part is that Mark Zuckerberg, if he performs spectacularly poorly, which I doubt but it could happen, he may be asked to step down, and he has controlling shares of the company, so it's unlikely he ever would But it's an issue that could get raised and it could become the conversation.
And he doesn't want that.