Transcript for Facebook stock drops amid data fallout
free at anoro.com. Cc1 Test message under fire. The ftc opening an investigation into the Cambridge analytica scandal. Facebook’s stock dropping even lower in the fallout and this morning, Facebook executives are heading to capitol hill. ABC’s chief business correspondent Rebecca Jarvis is here with more. Good morning, Rebecca. Good morning, robin. That’s right. With the stock price spiraling and many now questioning whether their information is truly safe on the social network, ABC news has learned that Facebook’s CEO Mark Zuckerberg plans to speak out in the next 24 hours with the hope of calming fears and rebuilding trust. This morning, pressure mounting on Facebook following the Cambridge analytica privacy scandal. The company’s stock plugging nearly 10% in just the last two days. The federal trade commission now opening an investigation. The attorneys general in new York and Massachusetts say they plan to jointly investigate both companies and later today Facebook executives will face tough questions on capitol hill. How do we preserve the benefits of Facebook while at the same time trying to combat the abuses? Reporter: The controversy stemming from claims that Cambridge analytica, a consulting firm with close ties to the trump campaign, pored over the information of up to 50 million Facebook users obtained from the social media site by a third party. The data including details like age, race, marital status and interests based on likes potentially valuable information that could be used to target and influence groups with political ads. Cambridge analytica says it deleted the data as soon as it discovered it was improperly obtained. This as newly released undercover video captured by Britain’s channel 4 reportedly shows an executive from Cambridge analytic explaining how they could saturate the internet. Just put information into the bloodstream to the internet and then, and then watch it grow. Give it a little push every now and again so it’s unattributab unattributable. Untrackable. Reporter: Cambridge analytica allegedly created and spread the term crooked Hillary. And then we made — we created hundreds of different kinds of creative and we put it online. Reporter: The backlash on social media fierce with thousands now icing the #deletefacebook. Somethingsome like 43-year-old mother of one Lydia Marquez have actually done. I was not only jeopardizing my own privacy, but also privacy of my child, friends and family. Reporter: Facebook putting out this statement, the entire company is outraged we were deceived. We’re committed to vigorously enforcing our policies to protect people’s information and will take whatever streps to see that this happens. Rebecca, a lot of Facebook users and they want to know is there a way to check what information Facebook has on us? There is, robin and I think it’ll blow people away to see truly how much information they can gather. So you’re going to go on your Facebook feed to the right-hand side to settings here on the right-hand side then that will take you to a new page where you’ll see this over here on the left-hand side that says ads. Click here on the left-hand side where it says ads then click here on your categories and finally that’s going to take you to a page that shows your categories, now here is where the information really is. U.S. Politic, that’s going to say what they’ve gleaned from you clicking around on Facebook what your politics very likely would be, it says here when you’ve traveled, they can track how often you’re traveling so they know, for example, if they’ve got an advertiser on the platform that wants to sell to you because you’re a frequent traveler they will know this from your profile. Can you turn it off? But you have to know to turn it off. You have to know to turn it off and there are a couple of things you can do, make sure when you go into apps make sure that you’re limiting the access that Facebook can have. That’s a very simple thing everyone can do whenever they download an app and afternoons do you want to give Facebook access? Great information. This is fascinating? We’re going to do it again on “World news tonight.” You just plugged your show again. I try. Come on. I know. It’s pretty decent. Check it out sometime. You know what, as hard as you’re working day and night, you gee serve that. Make sure you check it out on “World news” if you missed it here.
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