Facebook's Zuckerberg says his company is about American values
Zuckerberg will talk about the value Facebook has because it gives small businesses and entrepreneurs access to the tools needed to connect with customers
Facebook CEO Mark Zuckerberg says his company stands for American values, democracy, competition, inclusion and free expression which gives people a voice.
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Zuckerberg will appear on Capitol Hill on Wednesday along with Apple CEO Tim Cook, Amazon CEO Jeff Bezos and the CEO of Google parent company Alphabet, Sundar Pichai.
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"As a platform for ideas we’ll always be at the center of important debates about society and technology, which is why I’ve called for new rules for the internet," Zuckerberg will tell a House subcommittee.
According to prepared remarks, Zuckerberg will talk about the value Facebook has because it gives small businesses and entrepreneurs access to the tools needed to connect with customers.
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He'll also talk about the importance of Facebook during the coronavirus pandemic, giving people an opportunity to stay in touch with friends and family.
As far as Facebook's advertising goals, "Facebook supports its mission of connecting people around the world by selling ads, and we face significant competition," said Zuckerberg. "We compete against the companies appearing at this hearing, plus many others that sell advertising and connect people".
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Zuckerberg may be asked about the recent exodus of advertisers from the company due to what those companies refer to as a forum for hate speech.
According to Zuckerberg, companies like Facebook wouldn't be possible without U.S. laws that encourage competition and innovation. "I believe that strong and consistent competition policy is vital because it ensures that the playing field is level for all. At Facebook, we compete hard, because we’re up against other smart and innovative companies that are determined to win."
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Some will argue that some tech companies have become too large. Zuckerberg says Facebook started from the ground up and made acquisitions that benefit many. "Acquisitions bring together different companies’ complementary strengths," said the Facebook CEO.
He'll use Instagram and WhatsApp as examples.
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The House antitrust hearing will take place Wednesday at noon eastern time.