Latest @Sludge: Four Democratic reps on the House Financial Services Committee, which will question Mark Zuckerberg tomorrow, own stock in Facebook. readsludge.com/2019/10/22/rep… 
@Sludge For the record, only one rep, @RepDeanPhillips, responded to my questions. Phillips, a new House member, is in the process of putting all his assets into a blind trust. He has a strong record on getting corporate money out of politics. readsludge.com/2019/10/22/rep…
@Sludge @RepDeanPhillips And as far as I know, the owner of the most Facebook stock in the House isn't on this committee. It's Nancy Pelosi, whose venture capitalist husband owns as much as $1.1 million in Facebook stock. readsludge.com/2019/10/22/rep…
.@RepBeatty owns between $15,000 and $50,000 worth of Facebook stock, but also between $15,000 and $50,000 worth of stock in Uber, which is partnering with Facebook on its Libra digital currency (which they'll be discussing at tomorrow hearing). readsludge.com/2019/10/22/rep…
This hearing is happening NOW. financialservices.house.gov/live/
MAXINE WATERS just said Facebook's decision to allow politicians to lie in ads will result in massive voter suppression.
MAXINE WATERS just said Facebook's decision to allow politicians to lie in ads will result in massive voter suppression.
ZUCKERBERG is reading his statement to the committee. This should be 100% truthful and heartfelt.
ZUCK just praised Facebook's anti-hate speech policy.
Folks, it's not going well. readsludge.com/2019/09/25/fac…
Folks, it's not going well. readsludge.com/2019/09/25/fac…
WATERS: Talking Russian online ads that targeted Black Americans, specifically in areas where Black Lives Matter chapters were active.
Now Russia and Iran are doing it again, she says, and FB now will allow pols to lie "so you can earn more money off of this division."
Now Russia and Iran are doing it again, she says, and FB now will allow pols to lie "so you can earn more money off of this division."
WATERS: "You change your policies when it benefits you." Asks Zuck how allowing pols to lie on Facebook helps the company" (while saying it helps Facebook make more money.
ZUCK: From business perspective, very small part of our business is pol ads.
This is really not about money.
"I believe in giving people a voice. Especially in political process for challenger candidates...having ads can be important way to inject message into political debate"
This is really not about money.
"I believe in giving people a voice. Especially in political process for challenger candidates...having ads can be important way to inject message into political debate"
ZUCK: "We do not fact check politicians' ads."
Says "FB does not fact check" ANY ads. But they contract with outside firms that fact check. Seems very focused on not saying FB itself does fact checking.
Says "FB does not fact check" ANY ads. But they contract with outside firms that fact check. Seems very focused on not saying FB itself does fact checking.
Zuckerberg "doesn't know" if Facebook has worked with any minority-owned financial companies.
GREGORY MEEKS is taking him to task about this.
GREGORY MEEKS is taking him to task about this.
Rep. Sherman just referenced Facebook's giant army of lobbyists.
He ain't wrong; this year Facebook is on track to easily surpass its annual lobbying record. It's lobbying directly on blockchain issues. marketwatch.com/story/facebook…
He ain't wrong; this year Facebook is on track to easily surpass its annual lobbying record. It's lobbying directly on blockchain issues. marketwatch.com/story/facebook…
SHERMAN: "For the richest man in the world to hide behind the poorest people in the world..."
