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>> Overall, I would say that we're going through a broader, philosophical shift.>> It was supposed to be the great clash between Silicon Valley and Capitol Hill, but Facebook CEO, Mark Zuckerberg's highly anticipated Senate testimony Tuesday, did not turn into a congressional brawl, despite opening warnings from Republicans and Democrats.
>> In the past, many of my colleagues on both sides of the aisle have been willing to defer to tech companies efforts to regulate themselves. But this may be changing.>> If Facebook and other online companies will not or cannot fix the privacy invasions, then we are going to have to, we the Congress.
>> Zuckerberg clearly came prepared.>> We didn't take a broad enough view of our responsibility, and that was a big mistake. And it was my mistake and I'm sorry. I started Facebook, I run it, and I'm responsible for what happens here.>> Under fire for allowing Russian operatives to spread propaganda on the social network during the 2016 U.S. presidential election, and for the unauthorized collection and selling of data of more than 80 million Facebook accounts.
Zuckerberg was calm, apologetic, patient, humorous, but most of all, careful. Several times throughout his testimony, Zuckerberg pledged to change the way data are accessed, and whether, quote, issue ads like the one used by the Russians, are placed in the platform at all. He even agreed to help lawmakers do their job.
>> Would you work with us in terms of what regulations you think are necessary in your industry?>> Absolutely.>> Okay, would you submit some proposed regulations?>> Yes, and I'll have my team follow up with you.>> His testimony given high marks on Wall Street as he dodged direct questions on how much data Facebook is really scooping up, and hinted at a paid version of the social network.
Investors pushed Facebook stock up 4.5%, in the biggest one day percentage gain in almost two years. Zuckerberg is back on Capitol Hill Wednesday, this time to testify before a House Committee.