Friday, 22 November, 2019

AOC is crowdsourcing questions for Mark Zuckerberg on Twitter

04 misinfo 02 Here is Mark Zuckerberg’s Prepared Testimony for House Financial Services Committee Hearing
Noel Elliott | 24 October, 2019, 00:25

Bitcoin's price dropped on Wednesday to its lowest level against the dollar since the middle of May after Facebook Chief Executive Officer Mark Zuckerbeg, in testimony before Congress, expressed doubts about whether the company's cryptocurrency project Libra was going to work.

"I understand we're not the ideal messenger right now", Mr Zuckerberg will say at Wednesday's hearing.

Libra Association companies told the BBC that no timeline for implementing the $10m fee had been set - but all said they would likely invest in the project when asked.

"The main reason for this is because of the huge pressure Facebook's Libra is getting from Washington", Matt Maley, equity strategist at Miller Tabak + Co told Bloomberg.

"We can't sit here and assume that because America is today the leader, that it will always be the leader if we don't innovate", the Facebook CEO pleaded with Congress. "If we don't do things like this... eventually, we lose our leadership".

During a tense exchange, Ocasio-Cortez pushed Zuckerberg about Facebook's decision to not fact-check political ads, which essentially gives politicians nearly total control of the content they post online.

Lawmakers from both parties and top regulators - including Treasury Secretary Steven T. Mnuchin and Federal Reserve Chairman Jerome H. Powell - have criticized Facebook's plan for the new currency.

IOS 13.1.3 continues rapid rollout of urgent bug fixes
But the iPad lags behind slightly, as only 33% of iPad owners have moved on to iPadOS. Apple released iOS 13 on September 19, followed shortly by iPadOS on September 30.

Facebook head Mark Zuckerberg.

It was a sentiment echoed by a few other Republican members of the panel, though Steve Stivers of OH cautioned Zuckerberg: "I think you've bitten off more than you can chew". Facebook announced a change in policy on September 24: It would not fact-check or remove content by politicians even if the posts violate the company's rules. This settled with a group including the American Civil Liberties Union, the National Fair Housing Alliance and others, but Facebook still faces an administrative complaint filed by U.S. Department of Housing and Urban Development. But Mr Zuckerberg is expected to reiterate his view that if the firm is not allowed to press ahead with Libra, the USA risked ceding power to China.

It was a stronger statement than when Facebook official David Marcus appeared before lawmakers in July, when he said the company will not activate Libra until it has "fully addressed regulatory concerns and received appropriate approvals". Marcus leads the Libra project.

Since publishing a white paper detailing the plans for its Libra cryptocurrency project, Facebook has faced fierce pushback from politicians and regulators, prompting several early backers - including Visa, Mastercard, PayPal and Stripe - to pull out. Zuckerberg, momentarily at a loss for words, conceded: "It's a risky enterprise".

Libra has faltered in recent weeks amid sustained criticism from lawmakers and regulators over fears it may aid money laundering and upend the global financial system.

Other cryptocurrencies also felt the heat of Zuckerberg's testimonial as Ethereum fell as much as 10%.

Sen. Elizabeth Warren, a leading Democratic presidential candidate, has advocated breaking up Facebook and other tech behemoths.

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