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Transcript

00:00:00
>> We are proud of how that free and open exchange has been weaponized, and used to distract and divide people.>> Top executives from Facebook and Twitter came to Capitol Hill, Wednesday prepared with apologies and plans to safeguard their platforms, especially ahead of the 2018 midterm elections.>> Senators, let me be clear.
00:00:22
We are more determined than our opponents and we will keep fighting. When bad actors try to use our site, we will block them.>> The Senate Intelligence Committee looking at efforts by social media companies to stop foreign attempts to influence US elections. Clearly, angry at Google for offering to send a lower level executive left the empty chair at the table.
00:00:43
Twitter CEO Jack Dorsey was quick to admit Twitter's failure and living up to its ideals.>> We found ourselves unprepared and ill equipped for the immensity of the problems that we've acknowledged. Abuse, harassment, patrol armies. Propaganda through bots and human coordination, misinformation campaigns and divisive filter bubbles. That's not a healthy public square.
00:01:10
>> Like many of the committee, Republican Chairman Richard Burr and his Democratic Vice Chairman Mark Warner remain skeptical.>> Unfortunately, what I've described is a national security vulnerability and an unacceptable risk back in November remains unaddressed.>> The bad news I'm afraid is that there's still a lot of work to do and I'm skeptical that ultimately, you'll be able to truly address this challenge on your own.
00:01:35
I believe Congress is going to have to act.>> Talk of possible regulation put social media stocks on the run. Twitter and Facebook shares fell during the testimony and never recovered, and the pressure is piling up. Without any evidence, President Trump accused social media companies with interfering in the upcoming mid-term elections in a published interview with the right-leaning Daily Caller.
00:01:59
And the justice department announced it is looking into whether social media companies are hurting competition and intentionally stifling the free exchange of ideas. Facebook's COO Sheryl Sandberg addressed the issue of policing content this way.>> In the case of misinformation, w hat we do is we refer it to third party fact checkers.
00:02:19
We don't think we should be the arbiter of what's true and what's false, and we think that's really important. Third party fact checkers, then mark it as false. If it's marked as false, we dramatically decrease the distribution on our site. We warn you, if you're about to share it.
00:02:33
We warn you, if you have shared it. And importantly, we show related articles next to that, so people can see alternative facts.>> But that doesn't seem to be enough for Republicans who are stepping up complaints that their view points are being censored and accusation Tweeter, and Facebook vehemently dispute.