Facebook CEO Zuckerberg defends business model

03 April, 2018, 05:12 | Author: Lynne Higgins
  • Andrew Bosworth in 2010

In an interview with Vox, Zuckerberg dismissed Cook's argument as insincere and shallow.

The company began investing in security issues at least a year ago, he said. "I think in any kind of good-functioning democratic system, there needs to be a way to appeal", Zuckerberg said. "And hopefully, by the end of this year, we'll have really started to turn the corner on some of these issues", Zuckerberg said.

It emerged last month Facebook had known for years that Cambridge Analytica had harvested data from about 50million of its users for years, but had relied on the political consultancy firm to delete the material.

Facebook shares were down 1.4% in premarket trading in NY to US$157.50.

"The reality here is that if you want to build a service that helps connect everyone in the world, then there are a lot of people who can't afford to pay", he continued, adding that a model based on advertising sales is "the only rational model that can support building this service to reach people".

"I don't think at all that that means that we don't care about people", Zuckerberg said.

Facebook decides not to unveil smart speakers amid data and privacy scandals
It said in 2011, SCL India undertook a state-wide research campaign to identify voter caste by household. Why is India's perpetually lying Law Minister (Ravi Shankar Prasad) throwing allegations in the media.

Before the Cambridge Analytica revelations, Facebook was already under heightened scrutiny, along with other social media companies, for failing to crack down on Russian meddling in the 2016 presidential election.

Zuckerberg has apologized for the events and said Facebook would look for possible personal data abuses by app developers going forward.

He said there are about 14,000 employees working on security and community operations to tackle issues such as Russian interference in United States elections.

This year will be a "big year for us for elections around the world", he said, including midterm elections in the U.S., India, Brazil, Mexico and elsewhere.

Mark Zuckerberg has hit back at his tech rival Tim Cook's criticism of Facebook, saying that the Apple CEO's comments were "extremely glib". Apple, instead, has monetized products to customers, and Cook argued that was a sounder business model and not vulnerable to the same problems Facebook is having.

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