Zuckerberg-Hughes Argument; Millennials Overspend Because Of Social

Chris Hughes and Mark Zuckerberg in 2005

Facebook co-founder Chris Hughes wrote a New York Times opinion piece on Thursday that had one charge - it's time for Facebook to break up.

Clegg agrees with Hughes that Facebook needs more regulation and needs to do a better job - if he thought otherwise, he'd be insane.

He writes: "Mark is a good, kind person". I am disappointed in myself and the early Facebook team because I have not thought about how the news feeds algorithm could change our culture, influence elections and strengthen nationalist leaders.

Clegg, however, refrains from talking about Zuckerberg himself and the amount of control he holds, which was actually the main talking point of the co-founder's op-ed.

"We all make mistakes, but I think that in his case it is different because there is no accountability for those mistakes", Hughes said, according to a transcript provided by CNN.

Hughes argued that Facebook, and by extension its all-powerful CEO Mark Zuckerberg, suppresses competition by "acquiring, blocking or copying" it, has sweeping power over speech, and is so big it can ignore virtually all forms of external accountability.

The practice, though, has drawn criticism after some of these low-earning contractors reported mental health crises as a result of absorbing too much disturbing content. The conflict between Zuckerberg and Chris Hughes regarding their business principles is grabbing headlines for quite some time.

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"Mr. Hughes is right that companies should be held accountable for their actions", Clegg said.

Hughes says he liquidated his Facebook stocks the year that he became publisher of The New Republic.

"Chopping a great American success story into bits" won't stop foreign election interference or "poison" spreading online, Nick Clegg, Facebook's vice president for global affairs and communications, told CNN Business' Brian Stelter Sunday in his first U.S. television interview since he joined the company previous year. Also, Facebook-owned platforms such as WhatsApp, Messenger, and Instagram, are each used by more than one billion people worldwide.

Other responses also come from US Senators, Mike Crapo and Sherrod Brown, who have sent an open letter to Facebook's CEO, asking him to "share all pertinent information regarding project Libra with Senate members". The founders of Instagram and WhatsApp have left, as has the executive who took over WhatsApp previous year. "For too long, lawmakers have marveled at Facebook's explosive growth and overlooked their responsibility to ensure that Americans are protected and markets are competitive". In the end people did not leave the company's platforms en masse.

He accused Facebook of acquiring or copying all of its competitors to achieve dominance in the social media field, meaning that investors were reluctant to back any rivals because they know they can not compete for long.

Facebook has already kept aside $3 billion anticipating a record fine coming from the US Federal Trade Commission (FTC) related to the Cambridge Analytica data scandal which involved 87 million users.

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