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Zuckerberg: Facebook Needs Help From "Journalists, Tech Firms And Governments" To ...

• https://www.zerohedge.com

Facebook COO Sheryl Sandberg won praise for her testimony before Congress last week (though her confused responses to questions about hate speech on the company's platform aggravated SJWs). But sadly for Facebook shareholders, regulatory threats (not to mention AG Jeff Sessions' "openness" to investigating tech giants for consumer protection or antitrust violations) continues to weigh on the company's share price.

And with FANG stocks still limping away from their worst market rout in months, Facebook CEO Mark Zuckerberg has published a 3,000 note on his Facebook page summarizing the company's efforts to combat election interference on its platform.

Zuck

While Zuck touted certain "triumphs" like the company's use of algos to delete more than 1 billion fraudulent accounts purportedly created by foreign agents, and the company's push to hire another 10,000 humans to weed out more sophisticated imposters, he also admitted that Facebook can't secure elections in the US - and indeed around the world - on its own. For that, it needs assistance from journalists, the government and - most importantly - other tech firms.

"The last point I'll make is that we're all in this together. The definition of success is that we stop cyberattacks and coordinated information operations before they can cause harm. While I'd always rather Facebook identified abuse first, that won't always be possible. Sometimes we'll only find activity with tips from governments, other tech companies, or journalists. We need to create a culture where stopping these threats is what constitutes success -- not where the information that uncovered the attack came from. For the complexity of the challenges ahead, this is the best way forward."

According to Zuck, Thursday's note will be the first of several updates to be published on his page before the end of the year.

Meanwhile, the company's shares have edged higher in pre-market trading after shedding nearly 3% on Wednesday.

Read Zuck's full note below:

* * *
My focus in 2018 has been addressing the most important issues facing Facebook -- including defending against election interference, better protecting our community from abuse, and making sure people have more control of their information. As the year wraps up, I'm writing a series of notes outlining how I'm thinking about these issues and the progress we're making. This is the first note, and it's about preventing election interference on Facebook.

These are incredibly complex and important problems, and this has been an intense year. I am bringing the same focus and rigor to addressing these issues that I've brought to previous product challenges like shifting our services to mobile. These issues are even harder because people don't agree on what a good outcome looks like, or what tradeoffs are acceptable to make. When it comes to free expression, thoughtful people come to different conclusions about the right balances. When it comes to implementing a solution, certainly some investors disagree with my approach to invest so much in security.

We have a lot of work ahead, but I am confident we will end this year with much more sophisticated approaches than we began, and that the focus and investments we've put in will be better for our community and the world over the long term.
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