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00:00:01
>> An apology from Facebook CEO Mark Zuckerberg Monday as he walks the halls of Capitol Hill for private meetings, ahead of what is expected to be two days of grueling public congressional testimony. Zuckerberg admitted in a letter to lawmakers that Facebook, quote, didn't do enough to prevent misuse of its platform, quote, that goes for fake news, foreign interference in elections, and hate speech, as well as data privacy.
00:00:28
Zuckerberg added, quote, I am sorry, I started Facebook, I run it, I'm responsible. Reuters correspondent David Ingram.>> Mark Zuckerberg has never had to testify in front of Congress. He is going to be likely pummelled by members of Congress, from both political parties.>> The world's largest social network under fire for allowing Russian operatives to use the social network to try and sway the 2016 elections.
00:00:53
And for a massive data scandal involving more than 80 million Facebook accounts, which analytics firm Cambridge Analytica ultimately handed over to the Trump campaign. Zuckerberg is attempting to get ahead of what is sure to be a bipartisan tongue lashing. Florida Senator Bill Nelson is one of the lawmakers Zuckerberg will face.
00:01:15
>> Well you can't protect our privacy just on the basis of somebody telling you that they're gonna protect it. So does that mean law? Yes. Does that mean regulation? Yes.>> Investors fear what Zuckerburg says over his three day trip to Washington won't be enough.>> The concern now among investors is that regulation is going to spread from Europe to other parts of the world.
00:01:41
And challenge things like targeted advertising and challenge the ways that Facebook uses data to keep people on Facebook and keep them seeing targeted ads.>> Zuckerberg took another step towards self-regulation last week when Facebook introduced a new verification process for people buying quote, issue adds, the ones used by the Russians.
00:02:04
Those defensive steps, however, not likely to mute the fierce criticism from lawmakers when he testifies before them Tuesday and Wednesday.