How not to take Facebook to task
Government regulation disregards the relentless changes taking place in technology and will retard innovation; Facebook and other tech giants need to do their own housecleaning
UNLIKE the American oil giants, this company does not seek the protection of the US military. Unlike the nation's car industry, it does not depend on government subsidies. And unlike the big banks, it never pleaded with Washington to provide it with a bailout.
Which bring us to our two questions of the week: Why is Facebook - which does not even require customers to pay for its services, or ask them for their bank account numbers - now being considered in Washington as the Villain Du Jour? And why is its founder Mark Zuckerberg finding himself on the enemy list of so many American politicians and pundits?
For three full days last week, Facebook's chief executive had to fend off harsh criticism from many grumpy lawmakers. He made the rounds of congressional leaders on Monday. On Tuesday, he endured gruelling cross-examinations during testimonies on Capitol Hill, and then a joint hearing of two Senate committees that lasted four hours. Wednesday was spent speed testifying (the congressional equivalent of speed dating) fo…
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