Homepage / Technology / Sheryl Sandberg is headed to DC to do damage control on Facebook’s Russian ad problem
Google and Facebook are watching our every move online. It's time to make them stop Daymond John tells shy airline passenger: You should have talked to me on the plane South Korea says it has no plans to shut down cryptocurrency trading AMD shares surge as Wall Street analysts say the chipmaker is ‘executing on all fronts’ James Altucher, the face of bitcoin, says he’s happy about Facebook’s cryptocurrency ad ban Pending home sales eke out 0.5 percent gain in December as supply shrinks to record low Uber is testing bike sharing in San Francisco The real source of the internet's problems might be the advertising business Game publisher EA's sales forecast tops estimates, sending shares higher GE will likely be dropped from the Dow, Deutsche Bank predicts Samsung surpasses Intel as world's biggest chipmaker for the first time Apple could be the best of the bunch in this tech earnings avalanche The 9-year stock rally still has 'years left,' says one of Wall Street's most bullish strategists Apple: We would never degrade the iPhone experience to get users to buy new phones Bitcoin headed for biggest monthly drop since January 2015 with nearly $60 billion of value wiped off ADP boosts forecast as new tax law spurs demand China 'will open even wider to the UK,' says Prime Minister Li Keqiang Big market swings are something you’re going to have to get used to, says Wells Fargo The dollar keeps weakening. Is that good news for the world? Apple downgraded by BMO, expects iPhone maker to slash revenue forecast this week SoftBank buys majority stake in Japanese messaging giant Line’s mobile division Rising interest rates cause a 2.6% pullback in weekly mortgage applications Trump's State of the Union address 'less hard' than first feared in Asia Trump vows to protect US intellectual property, without naming China Blockchain technology to boost Microsoft earnings, trader says Fujifilm to take over Xerox and combine it into the joint venture Fuji Xerox Samsung is making chips designed to mine cryptocurrencies like bitcoin There’s a risk of market turbulence, but it’s unlikely to hit until 2019, says Santander chairman We'll see up to a 15 percent correction in 2018, Swiss bank CEO says Japan's biggest messaging app Line is planning to launch a cryptocurrency exchange Quicksilver surfwear CEO missing at sea off the coast of France Venezuela says will pre-sell 'petro' cryptocurrency on Feb. 20 Nintendo ups its Switch sales expectations to 15 million units after profits rise 261% European markets seen mixed amid earnings and economic data The UK wants free trade with China. Beijing has its own goals Santander fourth-quarter net profit down 4 percent on US impairments The man who almost became ambassador to South Korea just warned about US plans for North Korea China's Leshi Internet flags $1.8 billion loss for 2017, citing conglomerate cash crunch South Korea says it uncovered about $600 million in cryptocurrency crimes Asia became less democratic in 2017 Al Gore's investment firm backs start-up created by Facebook co-founder Theresa May says she wants a free trade deal with China Chinese manufacturing weaker than expected in January Webpass is leaving Boston in latest sign of Google Fiber’s shrinking ambitions Samsung posts record fourth-quarter profit Asian shares look set for more declines as Wall Street sells off for a second day Don't count insurers out yet after Amazon-Berkshire-JP Morgan move Amazon's health care move could be a big win for consumer health start-ups Red Hat buys CoreOS, a start-up that sold tech developed by Google Here’s what Amazon told employees today about its landmark deal to deliver better health care Top official resigns after false missile alert in Hawaii Crazy odds: These online traders bet on the chaos of Washington and the Trump administration AMD falls despite beating Q4 estimates Facebook ban on bitcoin ads latest in very bad day for cryptocurrencies Indian man dies after being sucked into an MRI machine while carrying an oxygen cylinder Advice for Jeff Bezos, Warren Buffett and Jamie Dimon from a failed effort to control health costs Toys R Us poor holiday sales cast doubts on its future and could force renegotiation of loan terms The Apple sell-off is a buying opportunity into earnings, says trader Google partnership on mobile cloud services drives up MobileIron shares Facebook is banning all ads promoting cryptocurrencies — including bitcoin and ICOs Amazon's moves in health care over the last year are finally starting to make sense Buffett is getting a second chance to partner with Bezos after missing on Amazon as an investment How Pencils of Promise got a $1 million donation from an anonymous bitcoin multi-millionaire Amazon's home devices could be a key to cheaper health care, tech investor Roger McNamee says Two ex-Google engineers built an entirely different kind of self-driving car Cryptocurrencies join the global financial market sell-off as bitcoin drops 7% A travel agent is trying to charge fees for sunbeds Most of the tax cut windfall will boost buybacks and dividends, not workers' pockets, survey predicts The professor who wrote the book on making addictive technology is having second thoughts Trump's immigration policies are 'economic poison' that will cost taxpayers billions Airbnb trolls President Trump ahead of the State of the Union The iPhone X's $1,000 price tag scared everyone away Drop, a rewards app start-up, snags Airbnb's former head of engineering SEC halts one of the largest 'ICOs' ever as it wades deeper into the murky world of cryptocurrency offerings Passing on sanctions, Trump goes even softer on Russia than expected Buy insurers on dip as new initiative from Amazon, Berkshire and JP Morgan is ‘more bark than bite’: Analyst High schools stock up on Narcan to combat teen opioid crisis in US Apple will finally replace the fax machine in health care Apple is reportedly delaying new iOS features until next year because of quality problems Bond expert predicts a ‘wall of buying’ in Treasurys will protect the stock market Home prices surge to new high, up 6.2% in November Noted tech investor says the sector is not the best place to invest right now Sterling predicted to hit pre-Brexit vote level before the end of 2018 Stocks making the biggest moves premarket: AMZN, BRKB, JPM, AAPL, BX, TSLA & more Bitcoin boom to give AMD earnings a boost, says MKM Partners Apple shares fall again on another report of fading iPhone X demand Trump advisor Cohn: President to focus on $1.5 trillion infrastructure plan in State of the Union Why don't foreign investors take fright more often? The dollar is doing something it hasn’t done since 1987 UnitedHealth, CVS plunge on Bezos, Buffett and Dimon plan to improve U.S. health care Amazon, Berkshire and JPMorgan Chase to team in landmark new health care company Can earnings afford to slow down? 'Enemies of the USA': Russia slams America's list of oligarchs with ties to Putin The app that exposed the location of military bases with a heat map is reviewing its features For his next act, former Amex CEO Ken Chenault turns his focus on Silicon Valley Child experts: Just say ‘no’ to Facebook’s kids app Ryanair agrees to recognize British pilots union for first time Arab states are 'determined' to stick with reforms despite deepening 'frustration', IMF says The US 'oligarch list' is strikingly similar to Forbes’ richest Russians ranking Indian ride-hailing firm Ola expands to Australia to take on Uber

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.