Facebook: "EU, please regulate me"

Mark Zuckerberg's FT opinion piece on 16th February outlined his proposal for the extent of regulation which he believes should be imposed on large tech companies, explaining that he doesn't think "private companies should make so many decisions alone". The Facebook founder and CEO points out four main areas which require regulation: elections, harmful content, privacy and data portability.

Two years after the scandal with Cambridge Analytica, Facebook is still suffering from the concerns as to how the social media platform was using the personal data of users unethically. Many believe that issuing a white paper outlining guidelines for future regulation is nothing more than a PR stunt to boost Facebook's image. Those sceptics among us will say that Facebook doesn't really want to be regulated, having become successful as a result of a poorly regulated system and the number of headlines the company has made from fines imposed for the violation of privacy regulations and regulatory breaches in both the EU and US. Is this a PR stunt by Facebook to regain trust from lawmakers, or is it an attempt to pave the way for the regulation of online content of Big Tech?

We have to balance promoting innovation and research against protecting people’s privacy and security. Without clear rules on portability, strict privacy laws encourage companies to lock down data, refusing to share with others, to minimise regulatory risks. Lastly, we need more oversight and accountability. People need to feel that global technology platforms answer to someone, so regulation should hold companies accountable when they make mistakes. Companies like mine also need better oversight when we make decisions, which is why we’re creating an independent Oversight Board so people can appeal Facebook’s content decisions. www.ft.com/...