Zuckerberg defends Facebook's business model as hearings end
Thursday, 12 April 2018 - 9:09
Facebook founder Mark Zuckerberg emerged largely unscathed on Wednesday from two days of high-stakes hearings that saw US lawmakers grill the billionaire over how the online giant feeds users' data to advertisers .
The marathon 10 hours of questioning was one of the biggest spectacles in Congress in recent memory.
The 33-year-old CEO conceded that some regulation of social media companies is "inevitable," while offering a laundry list of reform pledges at Facebook and vowing to improve privacy and security.
But he stiffly defended Facebook's business model - specifically the way it uses data and postings from the 2.2 billion users of its free platform - calling it necessary to attract ad revenue the 480 billion US$’company depends on.