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Facebook Needs Regulation to Win User Trust, Zuckerberg SaysND
Natalia Drozdiak, Bloomberg, Tuesday February 17, 2020
Facebook is now pleading for governments to introduce new rules that will help it win back user trust after years of lobbying against any legislative efforts to impose new regulations. "If we don't create standards that people feel are legitimate, they won't trust institutions or technology," said Facebook's Chief Executive Officer Mark Zuckerberg in an op-ed in the Financial Times. Zuckerberg’s statement comes shortly after Facebook published a white paper that called for a “new type of regulator” to oversee regulatory enforcement of the internet. Silicon Valley firms have suffered user backlash over how web platforms profit from data, with Facebook’s user growth stagnating in its most important markets. Zuckerberg went on to say companies shouldn’t be in charge of making decision on competing social values, hoping new laws will provide the guidance the industry needs. “People need to feel that global technology platforms answer to someone,” said the Facebook CEO.
For the full story go to Bloomberg