Key Takeaways From Facebook Whistleblower's Senate Appearance

Facebook Inc FB former product manager and whistleblower Frances Haugen is testifying to the Senate how Facebook puts "profits before people," the NY Times reports.

Related Link: Facebook Whistleblower Reveals Identity, Accuses Company Of 'Betrayal Of Democracy'

Witness Haugen arrived with a small group of attorneys at the meet.

Democrat Senator Richard Blumenthal called out Facebook's CEO, Mark Zuckerberg, for his lack of response to Haugen's findings. Zuckerberg posted a video of himself and his wife sailing. The Senator demanded Zuckerberg appear before the Senate.

Haugen agreed as Blumenthal sought for the SEC and the FTC to investigate Facebook based on her findings. Republican Senator Marsha Blackburn said of Facebook's research: "They know they are guilty."

Haugen said that Facebook will continue to put its "astronomical profits before people."

Republican Senator Roger Wicker found it interesting to contrast the image of an irresistible, addictive Facebook with Haugen's finding, which depicted that teens were abandoning Facebook and Instagram to a lesser extent at a rate that alarmed the company's executives.

Haugen explained the leaked documents proved that Facebook "has repeatedly misled the public" about the safety of children, the accuracy of artificial intelligence systems, and Facebook's spread of divisive and extreme messages. 

In response to Zuckerberg's role in Facebook's algorithms, Haugen said while Zuckerberg is ultimately in control, the company often relies on testing and data about what users prefer to guide its decisions. At Facebook, she said, "the metrics make the decision."

U.S. Senator Blumenthal says Senate may want to explore national security issues relating to Facebook at the second hearing

Price Action: FB shares traded higher by 2.34% at $333.88 on the last check Tuesday.

Photo by Anthony Quintano via Wikimedia

Market News and Data brought to you by Benzinga APIs
Posted In: GovernmentNewsRegulationsLegalTechMedia
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!