Facebook's Zuckerberg went before Congress a year ago — here's what has (and has not) changed

Stocks jumped to record highs after testimony from Fed Chair Jerome Powell bolstered the case for easier monetary policy in the U.S.

The move would set up a vote on President Donald Trump's replacement for the North American Free Trade Agreement by the end of the year.

President Donald Trump still faces a similar lawsuit in Washington federal court filed by Democratic members of Congress.

One year ago, Facebook CEO Mark Zuckerberg told Capitol Hill lawmakers grilling him over the company's personal data fumbles that he believed regulation was "inevitable."

On March 30, he published a call for governments to regulate the internet in ways that will limit harmful content, protect privacy, maintain the integrity of elections and ensure data portability.

Facebook's evolving response to regulators, lawmakers, users and advertisers in the year since Zuckerberg's two-day testimony on Capitol Hill underscores the crisis of trust executives have tried to navigate while maintaining control of the business. The New York Times characterized Facebook's initial approach to the onslaught of PR faux pas as "Delay, Deny and Deflect." Now, Facebook seems to favor getting out in front of news reports of data breaches or regulatory proposals to set the narrative boundaries itself.

By and large, while potentially hefty fines loom from the Federal Trade Commission and from regulators abroad, Facebook has proven it's still able to keep users and advertisers on its platforms, if not win back their trust entirely.

When it comes to the people who could most directly force Facebook to change its business model regulators and lawmakers Facebook has shifted from a dismissive to proactive response.

A year after Zuckerberg appeared before Congress, Facebook has developed an immunity to doing business in a highly scrutinized environment.

Original article
Author: Cnbc

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