Facebook Co-Founder Warns Mark Zuckerberg has ‘Near-Unilateral Power’, is Accountable to No One
Facebook co-founder Chris Hughes, who is calling for the break-up of the company he helped CEO Mark Zuckerberg create, tells CNN’s Fareed Zakaria that “Mark Zuckerberg has too much power.”
On his Sunday program Fareed Zakaria GPS, Zakaria asked Hughes about his op-ed for the New York Times “where the biggest concern you say in the piece is the degree to which Mark Zuckerberg has almost total control over what information we all read about, access.”
“Mark’s the CEO, there is a board but because he owns 60 percent of the voting shares he’s not accountable really to that board,” Hughes said. “He’s not really accountable to users, and thus, far he’s not been accountable to government.”
“The world that we’re in right now is one where I do think Mark Zuckerberg has too much power, near unilateral power,” Hughes said.
Hughes notes what he didn’t address in the piece was changing the approach to corporate governance:
“There’s a lot of folks who call for thinking about making sure that boards have a responsibility not just to the bottom line but to customers, to suppliers, to the environment. … So, I think that kind of thinking when applied to Facebook would immediately bring accountability to the company,” Hughes said.
Hughes also says that having the Federal Trade Commission break up the company or having lawmakers pass meaningful privacy regulations, also “too would bring accountability.”
Zakaria noted that Hughes has said he has not seen Zuckerberg in person since 2017, and Hughes said he hasn’t spoken with him since the piece was published.
“I doubt that I will,” he responded when Zakaria asks if he thinks Zuckerberg will reach out.
“I think this argument is too important. Facebook is too big and it’s something that 2.4 billion people use,” Hughes said.
(Watch above, via CNN)
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