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Zuck says ad transparency regulation would be 'very good if it's done well'

Zuck says ad transparency regulation would be 'very good if it's done well'
From TechCrunch - November 1, 2017

Despite Facebooks effort to rapidly self-regulate in the wake of Russian interference in the U.S. election using Facebook ads, CEO Mark Zuckerberg says he would support government regulation if implemented properly. Meanwhile, Facebook elevated its expense estimates for 2018 to fund security hiring.

Were working with Congress on legislation to make advertising more transparent. I think this would be very good if its done well, Zuckerberg said on Facebooks Q3 2017 earnings call. And even without legislation, were already moving forward on our own to bring advertising on Facebook to an even higher standard of transparency than ads on TV or other media.

In fact, Zuckerberg started the call fuming, declaring that Ive expressed how upset I am that Russians used our tools to sow distrust . . . What they did is wrong, and were not going to stand for it. He noted that when Facebook focuses on something it gets it done, even if it takes time and mistakes, and hes throwing the weight of the company behind the security effort. In fact, he invoked the way Facebook demolished Google+ and Snapchat, saying Were bringing the same intensity to these security issues that we brought to any adversary or challenge that weve faced.

This position still didnt lead Zuckerberg to show up to today and yesterdays congressional hearings where Facebook, Twitter, and Googles general counsels were grilled about Russian election interference. Several congress members requested CEOs show up next time.

Todays comments come after Zuckerberg wrote in todays earnings release that Were serious about preventing abuse on our platforms. Were investing so much in security that it will impact our profitability. Protecting our community is more important than maximizing our profits.

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