CNN’s live coverage has ended. Go here or scroll through the posts below to read about today’s hearing.
Just as Sheryl Sandberg and Jack Dorsey were catching their breath after spending the morning testifying, the Department of Justice signaled there may be more headaches afoot for the social media giants. The DOJ released the following statement soon after the conclusion of the hearing.
The comments come just a week after President Trump lashed out at the social media companies.
Senator Kamala Harris had some rather confusing questions at Wednesday’s hearing, suggesting she isn’t exactly well-versed as to how Facebook advertising works. But overall, senators on this committee appear to have a much better grasp on the issues than their colleagues who questioned Mark Zuckerberg in April.
After those hearings, many lawmakers were mocked online for their apparent lack of understanding of how social media works. (See: Senate fails its Zuckerberg test)
It makes sense, since the Senate Intelligence committee has, for more than a year, been leading the congressional investigation into the use of social media platforms by Russians to influence the 2016 U.S. presidential election.
Senators are asking Dorsey and Sandberg about “deepfakes,” and if big tech is ready for this emerging threat.
Deepfakes are doctored videos that will eventually fool even the sharpest eyes. CNN’s Sara O’Brien recently reported on them, and what companies like Facebook and Twitter are doing to get ready for them.
Its stock is down about 5.4% as CEO Jack Dorsey was grilled by lawmakers about the company’s efforts to combat foreign influence in elections. The sell-off briefly made Twitter (TWTR) the day’s worst performer in the S&P 500.
Dorsey admitted that Twitter “hasn’t done enough” in the past to promote user transparency. However, he said the company has significantly accelerated efforts to challenge suspected bots.
Gene Munster, managing partner of Loup Ventures, explained in an email to CNNMoney that investors believe “Twitter is more at risk,” because its fraud detection is “less sophisticated” than Facebook’s.
Facebook (FB) is down about 1%. Google owner Alphabet (GOOG) is down about 2%.
The tech trouble has the Nasdaq down by 1.3%, putting the index on track for its worst day since July 30.
Sen. Dianne Feinstein spent her morning grilling Supreme Court nominee Brett Kavanaugh over his views on abortion, gun control, and whether he believes a sitting president could be subpoenaed. But that doesn’t mean she isn’t keeping an eye on this hearing, too.
Sobering news for Facebook the day of this hearing: Around a quarter of American Facebook users say they have deleted Facebook’s app from their phone recently, according to a new Pew Research Center survey.
More from the study:
Facebook’s Sheryl Sandberg addressed election security before the Senate Intelligence Committee.
Watch:
Far-right conspiracy theorist Alex Jones showed up Wednesday on Capitol Hill as tech executives readied to testify before Congress. Jones, who was barred earlier this year from YouTube, Facebook, and other social media platforms, held a freewheeling gaggle with reporters outside the hearing room.
Jones said he was at the Senate Intelligence Committee’s hearing to “face my accusers.” He also recited a number of his fringe talking points. Jones accused members of the media of being “mercenaries for the globalists,” and said tech platforms are working to silence conservatives and independent media organizations.
Jones was asked by a reporter if his recent seven-day suspension from Twitter had changed his behavior on the platform. Previously, Twitter CEO Jack Dorsey – who is testifying in two hearings on Wednesday – suggested that the suspension could cause Jones to rethink the way he acts on the platform.
Jones didn’t directly answer the question, but suggested his behavior would remain the same. He claimed that he is “super tame compared to the leftists on Twitter” and said Dorsey only issued the suspension as a “stop-gap measure” to satisfy members of the media and Twitter’s investors.
Related:
Alex Jones: Conspiracy theorist suspended by Twitter for one week
Facebook suspends personal profile of InfoWars founder Alex Jones
YouTube, Apple and Facebook remove content from InfoWars and Alex Jones
Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey are in the room and testifying before the Senate Intelligence Committee, but Google declined to send a senior executive.
Committee chairman Sen. Richard Burr said the committee would have “valued the opportunity to speak with them [Google] at the appropriate level of corporate representation.”
“I’m deeply disappointed that Google – one of the most influential digital platforms in the world – chose not to send its own top corporate leadership to engage this committee,” Sen. Mark Warner, the committee’s top Democrat, said.
He added that there are “structural vulnerabilities” in multiple Google products, including Google search, YouTube and Gmail, about which members of the committee want answers. “Google has an immense responsibility in this space,” he said.
Jack Dorsey has admitted in the past that the company “hasn’t done enough” to promote user transparency. But what is the company doing to combat the spam, abuse and misinformation that the platform has become notorious for?
Here are the main takeaways:
Read Dorsey’s pre-written remarks.
Sheryl Sandberg is addressing the hearing now. “We were too slow to spot this and too slow to act. That’s on us,” she said.
Here are some more highlights from her pre-released remarks:
You can read the full statement here.
Big Tech is coming under pressure from Wall Street as executives prepare to get grilled in Washington.
Twitter (TWTR) shares retreated 2% shortly after Wednesday’s opening bell. Facebook (FB) lost nearly 1%, and Google owner Alphabet was down a fraction.
Don’t feel too bad for the tech companies, though. Despite concerns about regulation, Twitter shares are still up 41% this year and Alphabet (GOOG) is up 14%. Facebook is down 3%.
Google is the only company that didn’t send an executive to Capitol Hill, but it did release a statement.
The takeaways:
You can read the company’s full statement here.
Executives from Facebook and Twitter will appear on Capitol Hill today for Big Tech’s third high-profile outing in Washington in less than twelve months.
Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey will appear before the Senate Intelligence Committee Wednesday morning to discuss actions their companies have taken to thwart foreign influence campaigns targeting the 2018 midterm elections.
Dorsey will then participate in a second hearing Wednesday afternoon before the House Energy & Commerce Committee, where he is set to discuss the algorithms Twitter uses to serve content on users’ Twitter feeds and “content monitoring.” During that hearing, it’s likely Dorsey will face questions about — and push back against — accusations of political bias against Republicans.
Google, on the other hand, will likely be a no-show.
The Senate Intelligence Committee invited senior leaders from Google as well as Facebook and Twitter, to discuss their role in “protecting elections from misinformation and disinformation.” But Google declined to send a top executive. CNN’s Donie O’Sullivan and Jeremy Herb explain:
So a senate panel on election security that’s being held just weeks before the midterms might just consist of Sandberg, Dorsey, and an empty chair.
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