While many are calling for regulation of Facebook and other social media platforms, getting there might be unrealistic, said David Kirkpatrick, author of "The Facebook Effect: The Inside Story of the Company That is Connecting the World.” “The problem is, this is a company that operates in over 190 countries, in probably 90 to 100 languages. And governments themselves are abusing it in many of those countries, so who do you allow to regulate it?” Kirkpatrick explained in an interview with Cheddar Friday. “The other thing is...exactly how you’d interface with these moment-to-moment decisions, many of them being made by algorithms. That’s just something that hasn’t been invented yet.” Last week, news broke that data company Cambridge Analytica harvested information on 50 million Americans off Facebook and sold it to President Trump’s campaign team during the 2016 election. Ever since, Facebook has been in the hot seat for allowing this kind of breach on its platform and not being transparent about this problem, which it reportedly learned about years ago. CEO Mark Zuckerberg finally broke his silence on Wednesday after days of silence, saying -- among other things -- that the company would be open to government oversight. While Zuckerberg’s statement and public appearance may have been a step in the right direction, it did not do enough to quell user concern, said Kirkpatrick. For a CEO, “you don’t wait five days to come out when you have a crisis.” “They really don’t get it even now,” said Kirkpatrick. “I honestly think that Facebook is embarrassing the entire tech sector.” Kirkpatrick said that much of the company’s overall tone deaf approach to the crisis is derived from an arrogance that runs through the company. “They just think they’re better than everybody else,” he said. “They’re more successful than anybody else, they think that they are doing better for the world than anybody else, and they’re definitely richer than anybody else. “And what that leads them to conclude is that the rest of us just don’t get it...That is the way they think inside Facebook, and it’s really causing them to make a series of very wrong strategic decisions about how to handle this crisis.” Facebook shares were down nearly 14 percent this week, their biggest drop since July 2012. For the full interview, [click here](https://cheddar.com/videos/future-of-facebook).

Share:
More In Business
Stretching Your Dollar: Holiday Bonus
Grant Buckholt, financial adviser with Northwestern Mutual, joined Cheddar News to discuss what exactly a holiday bonus entails and provided tips on how to budget it.
Stretching Your Dollar: Steps to Take for Financial Freedom
Many of us will look to chart a path to tackling finances as the New Year arrives. Jamila Souffrant, author of "Your Journey to Financial Freedom," joined Cheddar News to discuss steps on what to take if you're looking to take control of your life for financial freedom.
Home Entertainment for the Holidays
If you're looking to upgrade your home entertainment system, Vizio may have you covered, especially this holiday season. Phil Schneider, head of device sales with Vizio, spoke with Cheddar News about what's currently in demand.
Load More