Consumer Industry Reports

Facebook Cleverly Times Paying For News Media to Shift Focus from Anti-Trust

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Mark Zuckerberg, the CEO of Facebook had a hectic week but nevertheless, he ended it in a relatively jovial mood at the East Coast.

Zuckerberg had visited an event in New York, which was organized to celebrate the launch of the new News tab of Facebook. There, while speaking to Robern Thompson, the CEO of News Corp, he had some lighter moments. Thomson, who was interviewing the Facebook CEO has been a strong critic of Facebook. This was a welcome relief for Zuckerberg, who spend some intense 6 hours at the hearing before the House Financial Services Committee on Wednesday. At the hearing, Zuckerberg was questioned over the new cryptocurrency based project libra that Facebook launched. He was at a loss of words to certain questions relating to this new platform. He was reprimanded for his lack of credible answers and in some cases, silence when asked on this chapter.

While this happened on Wednesday, on Tuesday an antitrust investigation led by the state was launched against Facebook in relation to project Libra. To make matters worse for Zuckerberg, attorney generals of 47 states as well as territories have joined the probe.

 It might well be that Zuckerberg is trying to kick off a new bonhomie with the media as a tool to distract the attention from many challenges that Facebook has to deal with, in Washington. Some of these challenges are too severe to pooh-pooh with the company failing to gain the confidence of the lawmakers in regards to its business, following the scandals regarding user privacy that created a furor all over the world. At present, Facebook stands in the line of fire from four blazing guns, – the State Attorney Generals, the Federal State Commission, the House Judiciary Committee, and the Justice Department.  The intention of the Justice Department to take a hard look at the company has not yet been confirmed though.

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