Zuckerberg Admits FB Collects Data From Non-Members

Facebook CEO Mark Zuckerberg returned to Capitol Hill Wednesday for a second day of congressional hearings, as the company grapples with the fallout of the Cambridge Analytica data privacy scandal.

He claimed that "there's a very common misperception. that we sell data to advertisers", adding that "we do not sell data to advertisers. I believe people own their content", he told the House panel.

This time, the bounty will be placed on apps and companies that compromise Facebook data privacy, which is a first of its kind in the industry. They posted their biggest daily gain in almost two years on Tuesday as Zuckerberg managed to deter any specific discussion about new regulations that might hamper Facebook's ability to sell ads tailored to users' profiles. With the Menlo Park, Calif. -based company at center stage, one analyst expects the stock to maintain its turnaround, citing strong fundamentals positioned to drive long-term revenue.

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"Facebook reported its 2017 lobbying cost at almost $12 million".

The closest the Facebook CEO came to addressing the issue was when he acknowledged to Rep. Kathy Castor that Facebook collects data from users even when they're not on Facebook and not even logged in to the platform. It turns out that people mostly entrust their information to Microsoft, Lyft, Tesla, and Netflix which barely managed to generate any negative response.

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On Tuesday Zuckerberg disclosed his company is working with special counsel Robert Mueller's investigation of Russian Federation election meddling after a pro-Trump data mining firm accessed at least 87-million users information without their knowledge. But with only four minutes allotted to each of the 55 committee members, there was limited opportunity for followup questions.

Mark Zuckerberg opened his hearing with another apology and completed the hearing unscathed partially because of his robotic replies and mainly because of a lack of full grasp of technology by the investigators. We have to make sure those connections are positive. GDPR will give European users more control over their data, including a clear and obvious option to choose who has access to their data.

On Tuesday Facebook began notifying more than 87 million people around the world, including one million Britons, that their private information may have been given to Cambridge Analytica by an app developer from Cambridge University. The government is waiting for Cambridge Analytica to respond to a similar notice before responding.

Businesses can upload their data to Facebook to see if the ads they run on Facebook lead to sales in their stores; they do this via something Facebook calls offline conversions.

He said the company made big changes in the platform in 2014 that have prevented this specific situation with Cambridge Analytica from occurring again. However, in a reference to Russian interference during the 2016 U.S. presidential elections, he was not sure whether the social media platform will ever be free from state actors.

According to the official FAQ of the Data Abuse Bounty program, users are being invited to help the social network identify malicious apps and companies that are collecting and abusing Facebook data. "I'm aware that there may be, but we are working with them".

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