Facebook's Zuckerberg to defend company before U.S. Congress by listing competitors

[webfact]

Facebook's Zuckerberg to defend company before U.S. Congress by listing competitors

By David Shepardson and Nandita Bose

 

FILE PHOTO: Facebook Chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing in Washington, U.S., October 23, 2019. REUTERS/Erin Scott

 

WASHINGTON (Reuters) - Facebook Inc's <FB.O> chief executive, Mark Zuckerberg, will defend the social media company before a congressional hearing on Wednesday by saying it faces intense competition, justifying its acquisitions and pointing to China's growth as an internet superpower.

 

Zuckerberg's written testimony, made public on Tuesday, argues that the social media company became successful "the American way, by starting out with nothing and providing products that people find valuable.

 

"We compete against the companies appearing at this hearing, plus many others that sell advertising and connect people. We also compete globally, including against companies that have access to markets that we aren’t in," Zuckerberg will tell a panel of lawmakers investigating how its business practices and data gathering have hurt smaller rivals.

 

Also testifying are the CEOs of Amazon.com Inc <AMZN.O>, Alphabet Inc's Google <GOOGL.O> and Apple Inc <APPL.O>. https://reut.rs/2DhrEFT 

Zuckerberg will also defend Facebook's acquisitions by saying the social-media platform helped companies like WhatsApp and Instagram grow. Both are owned by Facebook.

 

He will also remind lawmakers of the competitive threat U.S. tech companies face from China, saying the Asian country is building its "own version of the internet focused on very different ideas, and they are exporting their vision to other countries."

 

Zuckerberg also renewed Facebook’s call for government regulation. He has previously called for more laws in areas where the company has been criticized - such as harmful content in social media, election integrity and privacy.

 

(Reporting by David Shepardson, Nandita Bose and Diane Bartz in Washington; Editing by Matthew Lewis)

 

-- © Copyright Reuters 2020-07-29

 

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[Chomper Higgot]

So he doesn’t like competition.

 

 

[DoctorG]

230

[Benmart]

8 hours ago, Chomper Higgot said:

So he doesn’t like competition.

 

 

Just be patient. Perhaps you can subscribe to the Chinese version when it consumes the west and then comment on the competition platform.

[Bluespunk]

12 hours ago, webfact said:

We compete against the companies appearing at this hearing, plus many others that sell advertising and connect people. We also compete globally, including against companies that have access to markets that we aren’t in,"

So what?

[OneMoreFarang]

Facebook is only a problem because of the way how many users use it.

If you want to stay in contact with friends and family then do that.

But why do people read "news" on fb? By now everybody should know that fb gives everybody their personal bubble news. If you are left-wing that's the news you will get and for right-wing similar.

It's up to users how they use what is presented to them.

[Cryingdick]

2 hours ago, OneMoreFarang said:

Facebook is only a problem because of the way how many users use it.

If you want to stay in contact with friends and family then do that.

But why do people read "news" on fb? By now everybody should know that fb gives everybody their personal bubble news. If you are left-wing that's the news you will get and for right-wing similar.

It's up to users how they use what is presented to them.

Because people need somebody to blame. FB is widely hated so they work well to fit that role here. I wonder if they are going to have a chance to answer questions are just be ranted at?

 

I would love if the shoe was on the other foot and the the tech bosses could question the government about why it is so god damned incompetent? These companies are firing on all cylinders and pretty much the only reason the USA has an economy that can compete internationally now. 

 

The tech titans have mansions in the best neighborhoods. The government is slumming it in the CHOP zone roasting government cheese on dumpster fires. The USA government is tun so poorly (no matter who is in charge) that they have no business telling anybody how to run a business.

[Tie Dye Samurai]

Life is better without Facebook and Twitter...