Orrin Hatch: How Does Facebook Make Money? Mark Zuckerberg: ‘We Run Ads’

One notable exchange during today’s big Capitol Hill hearing came between Facebook CEO and Senator Orrin Hatch after Zuckerberg said “there will always be a version of Facebook that is free”:

HATCH: How do you sustain a business model in which users don’t pay for your service?

ZUCKERBERG (after a rather notable pause): Senator, we run ads.

Watch the exchange above, via Fox News.

UPDATE –– 5:03 pm ET: Hatch’s office tweeted to clarify Hatch’s remarks. Earlier the senator remarked upon how people are “shocked, SHOCKED that companies like Facebook and Google share user data with advertisers.” This post has been updated accordingly.

[image via screengrab]

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Josh Feldman is a Senior Editor at Mediaite. Email him here: [email protected] Follow him on Twitter: @feldmaniac