*By Alisha Haridasani and Jacqueline Corba* European lawmakers aggressively questioned Facebook's CEO Mark Zuckerberg on Tuesday, indicating they may consider further restricting the social media company's unchecked growth and regulating its business practices. Zuckerberg, meeting publicly with members of the European Parliament in Brussels, again apologized for the company's failure to protect the personal data of millions of Facebook users from a third-party app that shared their information with the British research firm Cambridge Analytica. "We haven't done enough to prevent these tools from being used for harm," Zuckerberg said Tuesday, echoing the apology he offered Congress in testimony last month in Washington. "That was a mistake." But European lawmakers were even more confrontational than their American counterparts, piling questions on Zuckerberg over Facebook's failure to combat fake news, thwart foreign interference in democratic elections, and limit the access of private data collected from its users. "They asked very intelligent questions that were drawn from the hearings in the Senate and the House of Representatives, building on them in very interesting ways," said Adi Robertson, a senior reporter for The Verge. A German member of the European Parliament asked pointedly about Facebook’s market share, and whether it should be subject to [antitrust regulations](https://www.c-span.org/video/?446000-1/facebook-ceo-mark-zuckerberg-testifies-eu-lawmakers), a common theme in Tuesday's questions. “It is time to discuss breaking Facebook’s monopoly because it’s already too much power in only one hand?” said Manfred Weber, the head of the European Parliament’s majority party, the European People's Party. Guy Verhofstadt, a Belgium leader of the Alliance of Liberals and Democrats for Europe, suggested the company should consider splitting up WhatsApp, Instagram, and Facebook Messenger. “Could you or would you cooperate with the European antitrust authorities?” he asked Zuckerberg. This line of questioning about Facebook's monopoly position was very "aggressive," said Roberson. After all of the lawmakers asked their questions, Zuckerberg chose a few to answer at the end of the session, and he vowed to respond to the rest with written statements. With so many of their questions unanswered and no time remaining, the meeting bizarrely descended into back-and-forth bickering among lawmakers over the flawed format of the hearing. "It seems like even people who were there on the floor were sort of baffled by the choice of panel," said Robertson. Zuckerberg's questioning took place days before Europe’s General Data Protection Regulation, or GDPR, goes into effect. The new law, one of the most sweeping privacy protection laws in the world, requires all companies to share how online user data is used and offer users the option to delete their data. Companies that fail to comply can be fined up to 4 percent of their global revenue. Zuckerberg said Tuesday that Facebook would extend to users elsewhere in the world the same data privacy protections that European citizens will have under the new law. “At the heart of Europe’s new data protection law, the GDPR, are three important principles: control, transparency, and accountability,” he said. “We’ve always shared these values.” For the full interview, [click here](https://cheddar.com/videos/zuckerberg-testifies-to-european-parliament).

Share:
More In Technology
DoorDash to Acquire Food Delivery Company Wolt
Food delivery giant DoorDash is acquiring European food delivery company Wolt. The all-stock deal is valued at $8.1 billion and is expected to close in the first half of 2022. The companies say they share a mission to build a global delivery platform. Gerber Kawasaki investment advisor Eva Agi joins Cheddar News' Closing Bell to discuss what the deal means for Doordash, as well as its customers and investors.
Identity Verification Startup Socure Raises $450 Million
Identity verification startup Socure recently raised $450 million dollars in a series E round, bringing the company's valuation to $4.5 billion. Socure says it is now the highest-valued private company in the identity verification space, and that the funds will be used to accelerate its mission to verify 100% of good identities and eliminate identity fraud across all industries. Socure Founder and CEO Johnny Ayers joins Cheddar News' Closing Bell to discuss.
Airbnb Sees Big Growth in Bookings for Long-Term Stays
With more companies offering employees flexibility in work schedules, Airbnb is looking to accommodate flexible travel plans. Chief Strategy Officer Nathan Blecharczyk joined Cheddar to discuss the growing trend of people staying in Airbnbs for longer periods of time. "In December over the holidays, in North America, we are seeing a 68 percent increase in the demand for month-long stays relative to years past," he said.
Coinbase Sees Poor Third Quarter While Cryptocurrencies Hit Record Highs
Coinbase reported third quarter earnings yesterday and revenue did not at all meet estimates, with the company saying that it also saw a staggering decrease of about 1.4 million customers in comparison to the previous quarter. This comes in the same week where bitcoin and ethereum, two of its most important digital assets hit record highs. Martin Gaspar, research analyst at CrossTower explains how a soft crypto trading quarter contributed to the less-than-ideal revenue outcome.
DoorDash to Acquire International Food Delivery Company Wolt for $8.1 Billion
DoorDash is set to acquire European-based food delivery company Wolt in an $8.1 billion deal. Ann Berry, chief investment officer at media platform Wheelhouse, joined Cheddar to discuss how this positions DoorDash in the prepared food and potentially the grocery delivery space. "I do think that what DoorDash is trying to be thoughtful about now is how to take that there's been a shift in consumer behavior in terms of mobile ordering and delivery and try and apply it to other categories," she said, also pointing to its partnership with beauty supply company Ulta.
Biden Administration Cracks Down on Cybersecurity
The Biden Administration has issued a new order aimed at all federal agencies which would order them to patch hundreds of cybersecurity vulnerabilities. Chief Evangelist at Intrusion Gary Davis and Chief Security Advisor at SentinelOne Morgan Wright, joined Cheddar to discuss more.
Load More