, 9 tweets, 3 min read Read on Twitter
Podcast here with a different view in Congress from @BillRockwood on Facebook @Libra_ and upcoming hearings. Facebook has been working hard for a year (rockstars like @beller), has a well thought out plan and partners eg PayPal who will likely positively surprise Congress.
2/Congressional hearings are normal. The media attention with all of the statements from Congress is more unusual because Facebook has been in the hot seat. But this way of doing things could become the new normal.
3/ I believe Libra is a seminal moment in the future of technology, cryptocurrency and advertising. And payments companies like these wouldn’t have jumped into the deep end with Facebook unless they thought that this made sense for them too.
4/The issue of fixing online user privacy is one that is considered high priority by elected officials, many of whom are running for President in 2020, regardless of party. Unfortunately the federal privacy law has slowed (preemption and other issues.)
5/We have hosted @JohnnyRyan of Brave, one of the leading experts on GDPR globally and one of the main *educators* to Congress on the ways big tech companies are infringing on GDPR and not protecting user privacy...he expect first big fines soon.
6/When people say “I don't care about privacy” they mean they don't care about the 1x1 contract - my data for your free service. But our data is sold over and over for other purposes when we hit “Accept” and we didnt give consent - this is where Cambridge Analyticas happen.
7/ The responsiblity should not be on the user (the Accept button is a relic of the past) but on the tech platform. Facebook is now the only big tech company offering a real = platform level solution to fix user privacy from the ground up
8/While antitrust and data privacy are separate issues, we have already seen presidential candidates reference the former as a solution to the latter. We believe that antitrust is a tool to get to a privacy solution.
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