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Mark Zuckerberg in 2016. Photo: Lluis Gene / AFP / Getty Images

Axios is told that Facebook CEO Mark Zuckerberg plans to speak out in the next 24 hours on the data-harvesting revelations that have hammered his stock price, inflamed lawmakers in D.C. and Europe, and trapped his social network in a crisis of trust.

"It’s a big deal, and he knows it."
— A source close to Zuckerberg

What's been happening: We're told that Zuckerberg was initially more focused on how to fix the problems than on what to say. But that left a vacuum that provoked merciless coverage, increased lawmakers' suspicions, and even left some employees demoralized.

The coverage, like the stock drop, is brutal: A USA Today headline calls the Cambridge Analytica crisis a "catastrophic moment" for Facebook. An online N.Y. Times opinion piece is headlined, "Facebook’s Surveillance Machine."

  • We're told that Zuckerberg's remarks will be aimed at rebuilding trust, and that he wanted to say something meaningful rather than just rushing out.
  • Behind the scenes, Zuckerberg has been having detailed conversations with product engineers about things that can be done to make Facebook more secure, and to make people feel their data is more secure.

Be smart: A problem with that argument is that Facebook has long known about these vulnerabilities. And the commercial use of your personal data, in ways you may not knowingly approve, has always been part of the business model.

Wall Street Journal front page, "Facebook’s Lax Data Policies Led to Cambridge Analytica Crisis ... Social-media giant’s loose policing of app developers went on for years" (subscription):

  • How it happened: "The Cambridge Analytica crisis has its roots in a 2007 decision by Facebook to open access to its so-called social graph — the web of friend connections, 'likes' and other Facebook activity."
  • "Although Facebook had rules stating the terms under which developers could accumulate data, it appeared not to be able to ensure its rules were being followed."
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Go deeper

Momentum builds to ban lawmakers from trading stocks

Illustration: Sarah Grillo/Axios

Some progressive Democrats and MAGA Republicans are uniting on a proposal to ban sitting lawmakers from trading individual stocks, although it's unlikely that leadership will bring the bill up for a vote.

Why it matters: Members of Congress have great power to move stock prices, and great financial incentives to do so.

Thousands without power as "hazardous" winter storm lashes East Coast

Satellite imagery of the Northeastern U.S. taken by NOAA on Jan. 17. Photo: NOAA

A major winter storm was lashing much of the East Coast on Sunday, causing widespread power outages and disrupting travel over the holiday weekend.

The latest: The Weather Prediction Center said in a storm summary Monday that winter storm warnings are still in effect for portions of the Central Appalachians, Ohio Valley, interior Mid-Atlantic, and Northeast, while portions of the Central Appalachians and coastal New England are under high wind warnings.

Colleyville Rabbi credits survival to active-shooter training

Rabbi Charlie Cytron-Walker, one of the people taken hostage in a synagogue outside Fort Worth on Saturday, said in an interview with CBS Monday that he initially took in the man because he thought he needed shelter.

The big picture: Cytron-Walker said he spoke to the hostage taker, identified by the FBI as 44-year-old British national Malik Faisal Akram, for several minutes and made him tea before Akram took the rabbi and three other people hostage during Shabbat services for around 11 hours in Colleyville, Texas.

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