Said this hearing will her were turned to order and we understand that senator moran is next so sir you are recognized. Chairman wicker thank you very much and thank you for you and senator cantwell hosting this hearing. Let me address initially this topic that seems to be primary today and then that is of data privacy. Let me ask all three witnesses how much money does your company stand annually on content moderation . How many people work in general in the area of content moderation including by private contract . Let me start with those two questions and ultimately want to ask you how much money does your company spend independently on lawsuits for content. See that mr. Zuckerberg do you want to go first . Senator we have more than 35,000 people who work on content and safety review and i believe our budget is multiple billions of dollars a year, upwards of three or maybe even more billion dollars a year which is a greater amount in revenue in the sense that we are spending more on
[inaudible conversations] this hearing will come to order. Ms. Cantwell will join us remotely at the beginning of the hearing. We convene to continue work to make sure the laws that govern it are sufficiently uptodate the internet is a Great Success story thanks in large part to the regulatory and legal structure that we cannot take that for granted and with those prominent internet platforms the witnesses include mr. Jack dorsey. And Mark Zuckerberg of facebook. On october 1st the committee voted on bipartisan and unanimous basis to approve the issuance of subpoenas after discussions among representatives and the Committee Witnesses have agreed to voluntarily and remotely appear there is a strong agreement on both sides of these aisled that hearing frm these witnesses with those deliberations before this committee with legislative reformss with a free and open internet i was 25 years it has been the hallmark of a driving Digital Economy in the United States this has been attributed b
Said this hearing will her were turned to order and we understand that senator moran is next so sir you are recognized. Chairman wicker thank you very much and thank you for you and senator cantwell hosting this hearing. Let me address initially this topic that seems to be primary today and then that is of data privacy. Let me ask all three witnesses how much money does your company stand annually on content moderation . How many people work in general in the area of content moderation including by private contract . Let me start with those two questions and ultimately want to ask you how much money does your company spend independently on lawsuits for content. See that mr. Zuckerberg do you want to go first . Senator we have more than 35,000 people who work on content and safety review and i believe our budget is multiple billions of dollars a year, upwards of three or maybe even more billion dollars a year which is a greater amount in revenue in the sense that we are spending more on
Eastern on cspans q a. Ceos of facebook, twitter and google appeared virtually at a Senate Commerce hitting Senate Commerce hearing. Republicans question whether the companies were censoring conservative viewpoints while democrats raised concerns about the spread of misinformation. Throughout the hearing, there were several references to section 230 of the committee occasions decency act, which shields social Media Companies from liability for content posted on their sites. This is three and a half hours. This hearing will come to order, senator cantwell is going to join us in person but she joins us remotely at the beginning of the hearing, we have convened this morning to continue work of this committee to ensure the internet remains a free and open space and they are sufficiently uptodate, it is a Great American success story, thanks in large part to the regulatory and legal structure our government put in place, we cannot take that success for granted, the openness and freedom of t
Twitter and facebook scheduled to testify before the Senate Commerce committee on wednesday. Examine whether that content liability shield section 230 is still relevant and needed. This is one of the days in the market, im not sure what is happening in the overall dow matters so much to the tech story. April sl about flat on some promising iphone 12 order lead times. Then if you look it at the nasdaq zoom is up amazon, etsy maybe thats some halloween eagerness. Yeah, a bit of a mixed bag today, jon you have the stay at home names you mentioned. Tech broadly lower weve got that doubleheader again this week. A hearing following by earnings from the Big Tech Companies. And its interesting, looking at facebook and alphabet this month, theyre actually outforemaniou outperforming the big tech names. Alphabet is up 8 . Facebook up 7 again, we see the theme. The pressure is on in terms of antitrust and regulatory scrutiny yet, the stock prices not really reacting those are the two names that h