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Zuckerberg values profits over privacy: Tech expert

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>> 50-YEAR LOW UNEMPLOYMENT BACKDROP MARKETS ARE — TRADING UP THIS MORNING WE ARE GOING TO LOOK AT FACEBOOK UNDER FIRE AGAIN "THE WALL STREET JOURNAL" REPORTING THAT INTERNAL E-MAILS FROM FACEBOOK COULD REVEAL HOW MUCH CEO ZUCKERBERG NEW ABOUT THE PRIVACY PROBLEMS, FACEBOOK PUSHING BACK ON NEWS WITH THIS SOMETIME THE, AT NO POINT DID MARK OR ANY OTHER FACEBOOK EMPLOYEE KNOWINGLY VIOLATE THE COMPANY OBLIGATIONS UNDER FTC CONSENT ORDER NOR DO ANY E-MAILS EXIST THAT INDICATE THEY DID

>> TECH FOUNDER CHIEF ANALYST, LOU GOOD TO SEE YOU REACTION TO WHAT IS HAPPENING WITH FACEBOOK >> NOT BUYING ONE BIT I FEEL WE COME HERE ALL THE TIME THEY HAVE HE SELECTIVE SLEF SELECTIVE DISCLOSURE WE FIND OUT VIOLATING PRIVACY FROM WOULD DAN I HATE TO GET BIBLICAL MAN CAN SERVE ONLY ONE MASTER FOR MAC ZUCKERBERG HAS BEEN PROFITS OVER PRIVACY FROM THE VERY BEGINNING >> THAT WE HAVE BEEN TAKING ABOUT IS THE BUSINESS MODEL ON FACEBOOK, SELLING CONSUMER DATA TO ADVERTISERS, ADVERTISERS KNOW WHAT THAT PERSON WANTS TO BUY WHAT THEY LIKE >> WHAT IS THE SOLUTION IN THIS SITUATION? BECAUSE, THE BETTER THE MORE DATA THAT FACEBOOK GETS FROM VIOLATING OUR PROOIFR BETTER ADS WORK FOR ADVERTISERS MORE PROFITS ON ADS MORE ADVERTISERS MAKE WE ARE PRODUCT NOT FACEBOOK CUSTOMER I DON'T SEE A SOLUTION TO THIS, OUTSIDE MAYBE MARK ZUCKERBERG FINDING A NEW JOB, YOU KNOW I DON'T SEE THAT VERY LIKELY IN THE NEAR FUTURE >> JAMES FREEMAN "THE WALL STREET JOURNAL," THE COMMENT FROM FACEBOOK, SAYING HE DID NOT KNOWINGLY VIOLATE FTC AGREEMENT, IS THIS AN COMMISSION FROM ADMISSION FROM THE XH IS

>> MAYBE HE READ PREVIEW DIDN'T ACTUALLY OPEN PLINK READ WHOLE THING DO I BELIEVE AN ADMISSION, I THINK THE EVIDENCE THAT THEY CAN'T REACH A SOLUTION, WITH THE FTC, THIS EVIDENCE IS GOING TO COME OUT E-MAILS GOING TO BE IN PUBLIC RECORD BEFORE LONG, WHICH IS ALL THE MORE REASON FACEBOOK IS CLAMORING TO GET RECORD SETTLEMENT PAID COMING TO PUBLIC >> REALLY — AGAIN, THE "THE WALL STREET JOURNAL" — POINTS FACEBOOK IS WORRIED ABOUT THE PUBLIC RELATIONS ASPECT OF IT THAT IT COULD BE A HUGE EMBARRASSMENT? WILL IT? AGAIN FACEBOOK WAS BUILT ON GIVING PEOPLE ACCESS TO THEIR USERS INFORMATION OPEN POLICY FROM 2007 >> PEOPLE DID NOT KNOW EVEN THOUGH — I DON'T THINK THE AVERAGE EASIER UNDERSTOOD >> THEY HAD SINCE 2007 TO 2014 THAT THEY LET APP DEVELOPERS ACCESS DATA OF — LIKE PEOPLE'S FRIENDS, SO YOU USE AN APP, BUT THE APP DEVELOPER WOULD HAVE ACCESS TO ALL OF YOUR FRIENDS DATA NOBODY KNEW — >> NOBODY NEW MARIA IS RIGHT I THINK WE AREN'T AWARE NOW BECOMING AWARE FOR FACEBOOK TO SAY THEIR WORRIED ABOUT PR SIDE THIS IS PUBLIC EMBARRASSMENT NUMBER 100, IT JUST FALLS ON DEAF EARS THEY NEED TO CHANGE WE HAVE TALKED ABOUT THIS BEFORE IN REPRIEVE MONTHS ABOUT, YOU JUST HAVE TO DEFINE WHAT THOSE BOUNDARIES ARE IN PRIVACY WHAT ARE WE WILLING TO GIVE UP FOR THE BENEFIT OF USING FACEBOOK, I DON'T THINK THERE IS A CLEAR CONSENSUS WHAT THAT IS COMPANY IS NOT MOTIVATED TO RIFE AT THAT CONSENSUS

>> NOT MOTIVATED TO ARRIVE DOES ANYONE CARE >> ZUCKERBERG HAS ALL THE VOTING CONTROL RIGHT? HE IS NOT GOING TO SAY OH I AM GOING TO STEP DOWN MY OWN COMPANY UNLESS HE HAS PRESSURE TO DO SO WHO IS GOING TO PRESSURE HIM TO DO SO? THE VIDEO OF HIM TESTIFYING ON CAPITOL HILL LAST YEAR >> I AGREE SYMPTOMATIC OF A BIGGER PROP IN SILICON VALLEY LAST DECADE SUPER VOTING SHARES COMPANIES PUBLIC YOU HAVE SNAPCHAT ANOTHER CHALLENGE YOU CAN'T OUT CEO OR HAVE IMPACT AS ACTIVIST AT BOARD LEVEL

>> DO YOU THINK THERE IS ANY SHIFT THOUGH PRESSURE ON MARK MORE THAN BEFORE BECAUSE OF ISSUES OR DO YOU THINK IT IS HIS COMPANY, LET HIM DO WHAT HE WANTS? >> NO, I DEFINITELY THINK THERE IS MORE PUBLIC PRESSURE HE IS I THINK CAVING TO THAT I THINK KNOW LONGER CAN HIDE IN SHADOWS REMEMBER LAST YEAR SENT CHERYL SANDBERG TO TESTIFY IN FRONT OF KRONG WHEN HE SHOULD STEP UP BE THE LEADER, BUT I DO THINK HE IS BEING CALLED TO THE CARPET HERE YOU ARE GOING TO SEE CHANGES RECORD FTC FINE WILL GET PAID MAKE BIG HEADLINES ABOUT THAT I HATE TO SAY A 16-BILLION-DOLLAR BOTTOM LINE COMPANY 5 BILLION DOLLARS IS REALLY JUST YOU KNOW IT IS NOT THAT BIG OF A DEAL LONG TERM FOR THEM >> HOW ABOUT COMPETITIVE PRESSURES? ARE THERE ALTERNATIVES GIVE A BETTER DEAL ON PRIVACY VENTURE CAPITAL BACKED START-UPS >> SAYING WE CAN DO WHAT YOU WANT WITH FACEBOOK BUT DIFFERENT MODEL ON INFORMATION? >> YEAH I THINK — SNAPCHAT WAS THE MOST RECENT CAPITAL HERE IS THE THING THERE IS NO PATENTS PROTECTING SNAPCHAT SO FACEBOOK RIPS THEM OFF ANY TIME THEY DEVELOP A FEATURE THAT RESONATES WITH EUROS THEY HAVE A BIG NETWORK ROLL IT OUT GET THE EFFECT SQUEEZE OUT EXPRESSINGS TOO BIG TO FAIL IN SOCIAL MEDIA I THINK I DON'T THINK A DISRUPTER CAN DETHRONE FACEBOOK IF A GENUINE THREAT THEY WOULD ACQUIRE THEM USED USER DATA ON WHATS APP THEY BOT THEM OUT >> I DON'T KNOW ABOUT ACQUIRING, ACQUIRING OTHER COMPANIES, NOW TO GIVE THEM TO SOME BALLAST, PARTICULARLY INSTAGRAM BECAUSE OF MOOD IN WASHINGTON THIS IS BIPARTISAN THIS IS A BIPARTISAN LOATHING OF THIS ZMEEN MARIA: NOT LOATHEING, ELIZABETH WARREN TED CRUZ WANTED TO BREAK IT UP

DAGEN: RIGHT OR CERTAINLY CAN PREVENT COMPANIES FROM BUYING OTHER COMPANIES LIKE PARTICULARLY SIZABLE COMPANIES THAT WOULD GIVE IT GREATER REACH MARIA: I AGREE THEY >> THEY WOULD HAVE A TO HAVE YOU TIME JUSTIFYING LARGE ACQUISITION ESTIMATING THE SOLUTION BREAKING ITS UP WHAT DO DOES THAT ACCOMPLISH SEPARATING THEM OUT FUNDAMENTAL THEY CONVERGE COME BACK TOGETHER LATER ON? AGAIN I DON'T THINK THERE IS AN EASY SOLUTION SO WE ARE GOING TO SEE MORE PRIVACY, REPENTANCE GOING TO DRAG ON

Source: Youtube

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