cambridge analytica denies any wrongdoing. kylie morris is the washington correspondent for the uk s channel 4 news which conducted that undercover investigation of cambridge analytica. i would recommend people watch the entire piece on the web or read the article. so first tell me who is that gentleman? the head of cambridge analytica we see there in the glasses speaking. who is he and what does he do? so he is alexander nix, chris, and he is the ceo of cambridge analytica. he is also the ceo of the british sister company which is scl. so this is a company that has many decades in fact experience in kind of psychological warfare almost. it has a brown abackground in m intelligence. it s worked in over 200 elections across the world they say over the last 25 years.
so we re uncomfortable. and by the way, the ftc s scl s exclusion of these emerging technologies was meant to help these little nascent start-ups we want. meanwhile, facebook is worth $600 billion. facebook, google. these are the most powerful companies in the world. this is interesting, tony. to this point that scott just made, facebook is doing this all the time themselves. in theory, you and i could set up a company that does this. when authorities, british authorities and american authorities, want to talk to facebook about this, what are we looking for? was there a law broken here, or is this just gross? that s one of the questions here. it s about legality. the rules in europe are a bit more strict. that s one of the other questions here. we talk about the u.s. election and the 2016 presidential election, but potentially european users could have been affected and that could put facebook in a bit of a tough position in the eu. there are other questions about the federal tra
we re seeing major fallout on the stock market from facebook as users information was accessed by cambridge analytica. and facebook stock is off 7.2%. cambridge analytica is accused of grabbing information from more than 50 million facebook users during the run-up to the 2016 election. facebook shares now down about 7%. but let s talk more about the data analysis company at the center of the controversy. cambridge analytica. this company is an off shoot of scl group, that is a london-based defense company dealing with behavioral research and strategic communications. according to the website. cambridge is the u.s. spinoff of scl group and backed by republican megadonors robert and rebecca mercer and former white house chief strategist steve bannon was the company s vice president. according to foerltd federal
but inews 4 got a memo that appears to contradict that claim. nicks said his company never worked with russia, but the times said nicks business did have dealings with russia interests citing company documents and interviews. cambridge analytica is an offshoot of scl group where nicks is a director. the paper says that scl employees had contact in 2014 and 2015 from the russian oil giant luc oil. so facebook has suspended facebook analytica cambridge and wiley. cambridge analytica has denied the reporting by andrew wiley calling it a malicious attempt to hurt the company adding it is clear that he has a grudge to bear and appears set on trying
chris wylie to the attention of scl steve bannon. they took donald trump s chief strategist. what did steve bannon want? steve wanted to start a culture war. that s what he wanted. we offered him a way to accomplish what he wanted to do, which was change the culture of america. bannon s big idea was this. could they replicate profile work on people s personalities on facebook on a massive scale across the american electorate. if you look here in the underlying source code sthoos which i wouldn t normally see. no, you wouldn t normally see. it wrote like this. thousands of facebook users were paid to download an app to fill out a personality vary which their consent which in turn let them capture the use eers