Down 1. 6 yesterday, off of session lows. The dow industrials down 650 650 points, that was 2 and a quarter percent lower at 4 00 on wall street. Investors rattled over no progress on stimulus and a rise in covid cases. Its a big day for earnings, dow components merck, 3m. Caterpillar all reporting quarterly numbers this morning. We will get a snapshot of the airlines when jetblue reports and a look at big pharma when pfizer reports. The road to the white house, we hit the one week to go mark, americans are headed th to the polls in seven short days. President trump and joe biden begin the final push before election day. Stimulus negotiations losing momentum, time is running out for lawmakers to make a deal before november 3rd. House Speaker Nancy Pelosi says she remains opt my particular over talks optimistic over talks. Congressman tom reed told me yesterday if we dont have a deal by election day, we may not have one until february. Todays the day, my new book, the cost, trump, china
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
With increased urgency following the adoption and state laws in california and other states. At a recent hearing a group of chairs and commissioners representing different parties and different points of view had many specifics to be worked out. Given the data needs associated with the coronavirus aftermath. The panel will discuss the tradeoff between privacy and the context of the pandemic and get back privacy considerations and what the new privacy wall should look like and include and what it should not include. We are a distinguished panel to discuss these issues. Let me introduce them now. We have professor of law at the university of arizona. Christina montgomery is Vice President and chief officer at ibm, the former acting chair and commissioner now a partner of the law firm, andrew smith is the head of the bureau of Consumer Protection of the ftc and distinguished professor of management. Let me start out with a question for the panel and then also take you in the same order. H
Panelists. Thank you. Senior fellow and president emeritus. Welcome to the Privacy Panel where we can discuss the issue of how the pandemic has changed our views on privacy and what that implies in the legislation. Congress is debating the privacy legislation for some years but with increased urgency following the adoption and state laws in california and other states. At a recent hearing a group of chairs and commissioners representing different parties and different points of view had many specifics to be worked out. Given the data needs associated with the coronavirus aftermath. The panel will discuss the tradeoff between privacy and the context of the pandemic and get back privacy considerations and what the new privacy wall should look like and include and what it should not include. We are a distinguished panel to discuss these issues. Let me introduce them now. We have professor of law at the university of arizona. Christina montgomery is Vice President and chief officer at ibm,
Tech reporter for axios. Thanks for joining us. We appreciate your time. Guest thank you. Host one of the interesting aspect is the last couple of stories concerning the New York Post, and the responses from certain platforms. Remind viewers what happened with the story end with the platforms. Post the new york put a story with allegations about joe bidens son hunter and supposedly was that joe biden did for hunter in ukraine. The story was obtained because of a laptop that they obtained emails in, provided by rudy giuliani, the president s personal lawyer. Twitter and facebook worked to limit the distribution of this article on their platforms because the materials they have, which had to do with hacked materials, obtained by hacking. It was a swift backlash from many conservatives on the hill and in the administration. Twitter ended up backtracking and allowing the post to be shared after all after some really strong backlash. It was a prime example of how these companies attempt to