Mark Zuckerberg to Capitol Hill: 'It was my mistake and I'm sorry'

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"Now we have to go through every part of our relationship with people and make sure we're taking a broad enough view of our responsibility", he said.

In it, Zuckerberg says Facebook is "an idealistic and optimistic company" that focused on the good that can come from connecting people, such as organizers of the #MeToo movement and the student-led marches against gun violence.

You can read the full version his prepared remarks below.

Around 87 million Facebook users around the world, including 300,000 in Australia, will from today find out if their private data was shared without their permission. Facebook shares were up 1.7 percent in afternoon trading. They are still down nearly 17 percent from highs hit in January, amid a broader tech selloff, partly because of investor concerns about regulation.

That's one of many questions Congress should demand that Zuckerberg answer.

This is just the first of two official testimony appearances Zuckerberg will make on Capitol Hill this week.

As Zuckerberg, clad in a suit and dark blue tie instead of his usual tee-shirt, made the rounds Monday for more than five hours - each meeting lasting well over an hour and one lasting almost two - the House Energy and Commerce Committee released his opening statement far ahead of his Wednesday appearance there. Bill Nelson, the top Democrat on the Commerce Committee, as a cluster of reporters waited outside. Yesterday, he met privately with the leaders of the Senate committees.

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Republican chairman of the Senate Judiciary Committee, Chuck Grassley, announced on April 4 that the testimony would take place.

London-based Cambridge Analytica, which counts US President Donald Trump's election campaign among its past clients, has disputed the estimated number of affected users. When it learned in 2015 that Kogan had shared his data trove with Cambridge Analytica, Zuckerberg said, Facebook banned Kogan's app from the site and demanded that he and Cambridge Analytica certify that they had deleted the data.

In the testimony released by the House Energy and Commerce Committee, which he is expected to deliver Wednesday, Zuckerberg apologizes for fake news, hate speech, a lack of data privacy and foreign interference in the 2016 elections on his platform.

In the statement, Zuckerberg addresses Russian election interference and acknowledges, as he has in the past, that the company was too slow to respond and that it's "working hard to get better".

On Friday, Facebook sought to quell some concerns over political manipulation of its platform by announcing support for the "Honest Ads Act" that requires election ad buyers to be identified, and to go further with verification of sponsors of ads on key public policy issues. Special Counsel Robert Mueller had earlier indicted these employees for seeking to conduct "information warfare" against the U.S.

The company's data practices are under investigation by the US Federal Trade Commission. He also said Facebook should have done more. "Protecting our community is more important than maximizing our profits", he said. Facebook failed us. Not only did they fail to safeguard the personal information of millions of users, they concealed it from us - and this is not the first time the company mishandled user information.

If that's the case, don't users and others have the right to know how vulnerable they are to the threat of fake news and the possibility that their personal information is being used to try to manipulate how they vote? Moscow has denied the allegations. Zuckerberg and his company are in full damage-control mode, and have announced a number of piecemeal technical changes meant to address privacy issues.

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