An early mentor to Facebook CEO Mark Zuckerberg told FOX Business that regulating the leading tech giants in Silicon Valley will be detrimental to the internet.
“Regulation is not going to help the internet; it’s not going to help Facebook and Google, the largest companies,” Michael Wolf, the founder of technology consulting firm Activate, told Ashley Webster during an interview on FOX Business.
Facebook has come under fire after reports that Cambridge Analytica, which was hired by Donald’s Trump 2016 presidential campaign, misused the personal information of at least 50 million Facebook users.
Zuckerberg acknowledged it was a “breach of trust” and signaled he is open to government regulation.
“Facebook and other companies and Google, they’ll figure out a way around the regulations, but they are really not good for the internet as a whole,” Wolf said.
Wolf says Facebook is unaware of how much of the user information is being used by other companies.
“It’s not just a privacy problem,” he said. “It’s how that information is being used. How it’s being given to advertisers.”