Facebook's woes have entered the Washington bloodstream, with Congress amplifying calls to testify and the Federal Trade Commission confirming today the existence of a non-public investigation into the company's user privacy practices.
“The FTC is firmly and fully committed to using all of its tools to protect the privacy of consumers. Foremost among these tools is enforcement action against companies that fail to honor their privacy promises... [T]he FTC takes very seriously recent press reports raising substantial concerns about the privacy practices of Facebook. Today, the FTC is confirming that it has an open non-public investigation into these practices.”
Why it matters: Facebook's issues are no longer just with its users (approval way down) and its investors (stock struggling, although Zuck's job is perfectly safe).
But, but, but: The public is still mixed on regulating Big Tech.