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Americans have finally started to lose faith in tech companies' ability to protect their information, according to a survey fielded by HarrisX, a research consultancy, within 24 hours of Facebook CEO Mark Zuckerberg’s testimony before Congress this month.

Expand chart
Reproduced from Inaugural Tech Media Telecom Pulse Survey, HarrisX; Chart: Axios Visuals

And, the survey also finds that the majority of people want government to do more to regulate Big Tech, especially social media companies.

The numbers that matter:

  • 83% think we need tougher regulations and penalties for breaches of data privacy.
  • 67% support major online privacy and security legislation being considered in the U.S. (such as Consent Act) and Europe (GDPR).
  • 65% support the Honest Ads Act requiring political advertisements on social media to list who paid for them, just like political ads on radio, print and TV.
  • 59% say they support an Under 16 Privacy Bill of Rights, to ensure kids under 16 have the right to have their online data permanently deleted.
  • 53% believe large technology companies should be regulated by the federal government the way big banks are.

Yes, but: 38% think the federal government isn’t capable of regulating large tech companies, while 31% think it is capable.

Bottom line: A majority (58%) of people believe regulation of Facebook and other social media companies is inevitable. But it’s not clear they trust the government to get it right: 49% say of congressional representatives do not understand how Facebook works.

Go deeper

In photos: Protesters rally for George Floyd ahead of Derek Chauvin's trial

Chaz Neal, a Redwing community activist, outside the Minnesota Governor's residence during a protest in support of George Floyd in St.Paul, Minnesota, on March 6. Photo: Kerem Yucel/AFP via Getty Images

Dozens of protesters were rallying outside the Minnesota governor's mansion in St Paul Saturday, urging justice for George Floyd ahead of former Minneapolis police officer Derek Chauvin's trial over the 46-year-old's death.

The big picture: Chauvin faces charges for second-degree murder and manslaughter over Floyd's death last May, which ignited massive nationwide and global protests against racism and for police reform. His trial is due to start this Monday, with jury selection procedures.

Biden says $1,400 stimulus payments can start going out this month

Photo: Samuel Corum/Getty Images

President Biden said Saturday that the Senate passage of his $1.9 trillion COVID relief package means the $1,400 direct payments for most Americans can begin going out later this month.

Driving the news: The Senate voted 50-49 Saturday to approve the sweeping legislation. The House is expected to pass the Senate's version of the bill next week before it heads to Biden's desk for his signature.