Homepage / Technology / Sheryl Sandberg is headed to DC to do damage control on Facebook’s Russian ad problem
Amazon says this Prime Day was its biggest shopping event ever Kudlow says President Trump is 'so dissatisfied' with China trade talks that he is keeping the pressure on As stocks regain their footing, an ominous warning looms Goldman Sachs downgrades Clorox to sell, says valuation is 'unsustainably high' How Satya Nadella has spurred a tripling of Microsoft's stock price in just over four years Kudlow says economic growth could top 4% for 'a quarter or two,' more tax cuts could be coming The one chart that explains Netflix’s stunning comeback US housing starts plunge 12% in June to a nine-month low Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough Target uses Prime Day to its advantage, logging its 'biggest online shopping day' so far this year Billionaire Marc Lasry sees bitcoin reaching up to $40,000 as it becomes more mainstream and easier to trade These are the 10 US airports where you're most likely to be hacked Amazon shares slightly higher as investors await Prime Day results Wreck of Russian warship found, believed to hold gold worth $130 billion A bullish ‘phenomenon’ in bond market is weeks away from fading, top credit strategist says Stocks making the biggest moves premarket: MS, GOOGL, TXN, UAL, NFLX & more Twitter shares up 50% since late April means most upside priced in, analyst says in downgrade EU fines Google $5 billion over Android antitrust abuse Mortgage applications fall 2.5% as buyers struggle to find affordable homes America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson Investors are getting spooked as the risk of a no-deal Brexit rises EU expected to fine Google $5 billion over Android antitrust abuse Ex-FBI chief James Comey urges Americans to vote for Democrats in midterm elections Elon Musk apologizes to British cave diver following baseless 'pedo guy' claim Disney, Comcast and Fox: All you need to know about one of the biggest media battles ever Xiaomi shares notch new high after Hong Kong, mainland China stock exchanges reach agreement The trade war is complicating China's efforts to fix its economy European markets set for a strong open amid earnings; Google in focus Hedge fund billionaire Einhorn places sixth in major poker tournament The biggest spender of political ads on Facebook? President Trump Asian stocks poised to gain after Fed's Powell gives upbeat comments; dollar firmer Stocks are setting up to break to new highs Not all FAANG stocks are created equal EU ruling may be too little, too late to stop Google's mobile dominance Cramer explains how Netflix's stock managed to taper its drop after disappointing on earnings Airbnb condemns New York City's 'bellhop politics,' threatens legal retaliation Amazon sellers say they were unfairly suspended right before Prime Day, and now have two bad choices Investor explains why 'duller' tech stocks can have better returns than 'high-flying' tech names Elon Musk is 'thin-skinned and short-tempered,' says tech VC Texas Instruments CEO Brian Crutcher resigns for violating code of conduct Google Cloud Platform fixes issues that took down Spotify, Snapchat and other popular sites Uber exec: We want to become the 'one stop' transportation app 'What a dumb hearing,' says Democrat as Congress grills tech companies on conservative bias Amazon shares rebound, report says Prime Day sales jumped 89 percent in first 12 hours of the event How to put your medical history on your iPhone in less than 5 minutes Investment chief: Watch these two big events in 2018 Even with Netflix slowing, the market rally is likely not over Cramer: Netflix subscriber weakness debunks the 'sky's the limit' theory on the stock Netflix is looking at watch time as a new area of growth, but the competition is stiff Why Nobel laureate Richard Thaler follows Warren Buffett's advice to avoid bitcoin Rolls-Royce is developing tiny 'cockroach' robots to crawl in and fix airplane engines After Netflix plunge, Wall Street analysts forecast just tame returns ahead for the once high-flying FANG group Roku shares rise after analyst raises streaming video company's price target due to customer growth China is investing 9 times more into Europe than into North America, report reveals Amazon says US Prime Day sales 'so far bigger than ever' as glitch is resolved Netflix is on pace for its worst day in two years US lumber producers see huge opportunity, rush to expand San Francisco to consider tax on companies to help homeless Homebuilder sentiment, still high, stalls as tariffs, labor and land drive up costs Powell backs more rate hikes as economy growing 'considerably stronger' Netflix history is filled with big stock declines – like today – followed by bigger rebounds Intel shares get downgraded by Evercore ISI due to rising competition from Nvidia, AMD Petco aims to reinvent the pet store with something you can't buy online Genetic testing is coming of age, but for consumers it's buyer beware Tech 'FAANG' was the most-crowded trade in the world heading into the Netflix implosion, survey shows Netflix weak subscriber growth may indicate a 'maturity wall' that could whack the stock even more: Analyst This chart may be predicting the bull market's demise Wall Street says Netflix's stock plunge is a ‘compelling’ buying opportunity because the streaming giant ‘never misses twice’ Tesla sinks after Musk tweets, again Boeing announces new division devoted to flying taxis Stocks making the biggest move premarket: NFLX, UNH, GS, AMZN, WMT & more Deutsche Bank downgrades Netflix, but says big subscriber miss is not 'thesis changing' IBM is experimenting with a cryptocurrency that’s pegged to the US dollar North Korea and Zimbabwe: A friendship explained Virgin Galactic spinoff Orbit to launch rockets from the UK with space deal Artificial intelligence will create more jobs than it destroys? That’s what PwC says ‘Treasonous’ Trump and ‘Putin’s poodle:' Scathing headlines follow the Trump-Putin summit China’s fintech companies offer ‘enormous’ opportunity, investment manager says Trump's performance at summit with Putin was 'unprecedented,' experts say Walmart and Microsoft link up on cloud technology as they both battle Amazon European stocks seen mixed amid earnings; Fed’s Powell to address Congress How I knew I should quit my day job and run my start-up full-time: Viral website founder China's stocks have been trounced, but the trade war may ultimately be good news for those shares Billionaire tech investor Peter Thiel bets on crypto start-up Block.one Asian shares subdued open after mixed close on Wall Street; energy stocks under pressure Amazon cloud hits snags after Amazon Prime Day downtime Netflix isn't doomed by one quarter unless people start questioning the long-term investor thesis Tech stocks set to sink on Tuesday after rough evening for ‘FANG’ Netflix plummets after missing big on subscriber growth This wristband lets humans control machines with their minds The U.S. has a rocky history convincing Russia to extradite computer criminals Amazon suffers glitches at the start of Prime Day Jeff Bezos is now the richest man in modern history 'The United States has been foolish': Read Trump and Putin's full exchange Goldman Sachs recommends these 5 highly profitable companies — including Nvidia — to combat rising inflation Goldman Sachs releases 'tactical' stock picks for this earnings season Three red flags for Netflix ahead of its earnings report The bond market may be raising recession fears, but don't expect one anytime soon Cramer: Banks are 'making fortunes' but are still as hated as they were during the financial crisis Putin told Trump at summit: Russia never meddled in US election

Technology

Sheryl Sandberg is headed to DC to do damage control on Facebook’s Russian ad problem

Facebook is dispatching Sheryl Sandberg, its powerful chief operating officer, to Washington, D.C., this week, as the company attempts to contain the political fallout from revelations that Russian agents spread disinformation on the social network.

The house call to the nation’s capital — confirmed to Recode on Tuesday by multiple source — comes as Facebook prepares to join its tech peers and testify at two public congressional hearings in November that are focused on the Kremlin’s suspected meddling in the 2016 U.S. presidential election.

As part of the trip, Sandberg is expected to huddle on Thursday with members of the Congressional Black Caucus, two sources said.

The CBC has long raised questions about diversity at Facebook, given the fact that its workforce is predominately white and male. But the group of black lawmakers more recently has scrutinized the tech giant following reports that Russian agents — aiming to sow social and political discord in the U.S. — purchased ads on the site aimed at riling tensions around groups like Black Lives Matter.

The news led three CBC lawmakers — Reps. Robin Kelly, Bonnie Watson Coleman and Emanuel Cleaver — to write Facebook last week, urging the company to turn over a copy of all Russia-purchased ads to the CBC for inspection. They asked Twitter to do the same.

A spokesman for Facebook declined to detail Sandberg’s D.C. agenda. A spokeswoman for the CBC and its chairman, Rep. Cedric Richmond, confirmed the session with Facebook but not its attendees.

In a statement, Richmond said the Russia-tied ads may not have swayed the election — but they did cause “harm and additional resentment to young people who unselfishly fight for justice and equality for African Americans and other marginalized communities.”

Still, Sandberg’s appearance is part of a broader, brewing campaign at Facebook to temper concerns about disinformation spread on its platform — a full blitz that has included new public-relations hires and full-page ads in major newspapers like The New York Times.

For Facebook and the rest of the tech industry, the stakes are high: The fear is that lawmakers’ investigations could metastasize into new regulations that target the way companies sell political ads, collect users’ data or manage their all-powerful, decision-making algorithms.

Publicly, Sandberg is also set to appear onstage — and answer questions about Russia’s election meddling — at an event hosted by Axios on Thursday. The affair has been billed as part of a partnership, but a Facebook source told Recode on Tuesday that the company did not pay Axios to hold the event, stressing that its host, Axios co-founder and executive editor Mike Allen, has full editorial control.

The Facebook source also said the company is exploring additional media partnerships in the future. Meanwhile, Sandberg plans to appear at another event this week held by The Wall Street Journal. Facebook’s Campbell Brown, meanwhile, will sit down with Lydia Polgreen, the editor of The Huffington Post, on Wednesday.

The true test for the social giant comes on Nov. 1: That’s when congressional investigators on the House and Senate Intelligence Committee plan to grill executives from Facebook, Google and Twitter about Russian interference during the 2016 election.

At the moment, Facebook still hasn’t said if it will send Sandberg or others — like Chief Security Officer Alex Stamos — to testify at the back-to-back hearings. Twitter similarly has not shared who would appear before the committees; Google hasn’t officially confirmed its attendance, but is expected to appear.

Last month, Facebook revealed it had found about 470 profiles and pages tied to Kremlin-backed Russian trolls, which purchased about 3,000 ads before and after Election Day. Facebook has shared copies of those ads with Congress, but not full readouts of the other content published or shared on the Russia-tied profiles and pages — potentially racist, hateful or misleading information that might have been viewed millions of times.

By Tony Romm, Recode.net.

CNBC’s parent NBCUniversal is an investor in Recode’s parent Vox, and the companies have a content-sharing arrangement.

More from Recode:

Facebook, Tesla and other tech giants are giving aid to Puerto Rico in the form of VR, ‘internet balloons’ and batteries
People are spending more time in top shopping apps like Amazon’s
Ted Cruz challenger Beto O’Rourke is headed to Silicon Valley to raise cash

Source: Tech CNBC
Sheryl Sandberg is headed to DC to do damage control on Facebook’s Russian ad problem

Comments are closed.