Facebook COO Sheryl Sandberg Responds to Data Scandal

Facebook has made many headlines in recent weeks for the scandal that happened with research firm Cambridge Analytica.

Cambridge Analytica, who worked for Donald Trump’s presidential campaign, has been suspended from Facebook for the alleged misuse of the personal information of millions of Facebook users.

It was earlier in the week that CEO Mark Zuckerberg made a statement and a day later COO Sheryl Sandberg also gave her own statement.

Sandberg made an apology for the scandal on CNBC’s “Closing Bell” on Thursday and said, “Mark [Zuckerberg] has said, ‘It’s not a question of if regulation, it’s a question of what type. We’re open to regulation. We work with lawmakers all over the world.”

“We know this is an issue of trust. We know this is a critical moment for our company, for the service we provide,” Sandberg said. “We are going to do everything we can.”

The social networking giant has lost over $50 billion in value this week.

“That’s not how we look at it. We don’t look at these trade-offs like, oh it’s going to hurt our business in the long run and in the immediate term,” Sandberg explained however. “People’s trust is the most important thing we have, and that is how we make those decisions.”

“Sometimes, and I would say certainly this past week, we speak too slowly,” Sandberg said. “If I could live this past week again, I would have definitely had Mark and myself out speaking earlier, but we were trying to get to the bottom of this.”

Disclaimer: We have no position in Facebook, Inc. Common Stock (NASDAQ: FB) and have not been compensated for this article.