Facebook, Francis Haugen, FTC discussed on Sound ON


Right Charlie we thank you It was another day of testimony for Francis haugen answering questions This time in parliament UK very similar to the questions she recently answered on Capitol Hill During my time at Facebook first working as the lead product manager for civic misinformation and later on counter espionage I saw Facebook repeatedly encounter conflicts between its own profits and our safety Facebook consistently resolve these conflicts in favor of its own profits The result has been more division more harm more lies more threats and more combat That was Hagen three weeks ago in a U.S. Senate hearing And the story is deepened Have you read through this stuff on the terminal Massive cache of internal documents showing employees were concerned about the spread of hate speech leading up to January 6th That reminded in general and they were contradicting in these internal communications and looking at emails and chats contradicting the company's public statements about competition So we are asking will all of this strengthen the antitrust move on Facebook We've already talked about it long before we ever heard Francis haugen With lawmakers on both sides of the aisle taking aim at the social network And we talk about it with Bill bear Former assistant attorney general for antitrust and the Obama administration is now visiting fellow in governance studies at the brookings institution Bill I'm glad you're with us Thank you for joining us What is your take on the greater question here Does this make it more likely that Facebook is broken up or faces more strict regulations or is all of that inevitable in your view Until this hurts It risks hurting their defense to the FTC charges monopolization At the end of the day credibility matters It reminds me of that great Marx brothers line Who are you going to believe me or your own the Facebook public utterances Are not matching what these documents reveal they were saying in private that hurt Think about company witnesses who may be testifying in the FTC trial down the road If they have said one thing in public and private that affects how the judge is going to view what they have to say about whether they have market power or not So if you're making this case Bill you're just gathering right now You're gathering documents You're building this case to be greater than it was before this all began Correct And this does help the company no doubt about it They've got good lawyers They've got good lobbyists I don't need to tell you that as they note that hate speech represents well under 1% of overall content on the platform and is declining Will that matter Well the FTC case is going to be less about the quality of the speech Yeah And more about whether Facebook has market power monopoly power and while Facebook says people are free to move to another platform The fact of the matter is you're not going to move to another platform If in fact your friends and family are all on Facebook or all on Instagram right If you move you're not going to be able to talk to anybody Because they're all still on Facebook You're move only make sense if everybody else moves They call that network effects And right now Bloomberg has a network Facebook has a network through Facebook and we have a different network Yeah Yes But a good one Yes We like to think so I guess the question I'm asking is you know these are all human beings working in the FTC Bill You know plenty of them or certainly their breed And I wonder if this storyline forget lawmakers I think I know where lawmakers are on this but does this storyline when it comes to the agency Create more of an urgency to do something about it even if they're not going after the speech aspect Does this reinforce that sort of personal drive to regulate this company as a monopoly Well I think it does reinforce as you say both on the hill And that at the Federal Trade Commission this sense that this company is both powerful And lacking in some degree of credibility And that reinforces I think what the FTC said when it brought its initial complaint later amended in response to the Discord judge But I think for the most part those professionals at the SEC and it the antitrust division they're professionals They focus on what they can prove and how they're going to prove it So I don't think this is happening but reinforcement of that Facebook hasn't been quite truthful with the government Going with U.S. dollars We have a little trouble with your line Bill So hopefully it'll hang in another minute I'm just curious what you see as a potential outcome here Are we talking about breaking up the company or creating rules of the road for this company It's too early to tell You know Facebook has been talking about creating rules of the road as an alternative path to a breakup We're going to ask you what the evidence is I think at the end of the day it is hard to separate outlines of commerce that have been integrated especially in a high-tech platform So we're going to have to see where that all goes But at the end of the day I think this does give impetus for some sort of some form of increased regulation Over Facebook How long does it taste like this take in your view Well longer than it should And this case is not set for trial until 2013 at the earliest And there'll be appeals Harvard comes out So we're a long way away which is one of the reasons why lawmakers are thinking of a legislative in an effort to get more control over this environment because they have today Boy we will not hold our breath but I like the idea of talking to Bill bear again Thank you bill for being with us It's great talking with an expert Who knows what they're talking about is the former assistant attorney general for antitrust That's why he was with us of course with the brookings institution and I want to play this against the panel We will reassemble Rick and Jeannie get their take on the latest from Facebook and we'll look ahead to the Virginia governor's race My God it's just about a.

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