Facebook, Twitter and Google are back before Congress Wednesday, this time testifying in front of the Senate Intelligence Committee.
General counsels for the companies testified before congressional judiciary committees Tuesday, during which Facebook announced it would double its security staff and Twitter released some of the Russia-backed tweets sent out around the 2016 U.S. presidential election.
The week’s hearings could represent a turning point for the internet giants as discussions of foreign influence and regulation come to the fore. Twitter and Facebook have each moved to increase transparency around advertising, after public comments by CEOs Jack Dorsey and Mark Zuckerberg.
The hearings could signal whether Congress intends to more strictly oversee these companies in the future, but according to Bob Peck, head of internet investment banking at Credit Suisse, investors shouldn’t worry much for now about the possibility of more regulation on tech.
Source: Tech CNBCWatch: Facebook, Twitter, Google testify before Senate Intelligence Committee