May 28 (UPI) — Mark Zuckerberg, Facebook’s founder and chief executive, said at the first online shareholder meeting on Wednesday local time that the platform should focus on removing recent damaging content, not on future harm,media reported. The company will continue to regulate hateful speech that dehumanizes and incites violence.
In other words, regulation of Facebook platform content is complex. Mr Zuckerberg has repeatedly said he believes he is “on the side of giving people a voice and resisting censorship” in his search for a balance.
“Our default position is to give people a voice and then intervene where it might be really harmful, not to allow it to spread,” Zuckerberg admitted. If these damaging statements are transmitted, they may result in real and imminent harm. Then we try to develop policies that we can implement on a larger scale and be as open and thoughtful as possible. Of course, these policies are not perfect. “
Facebook voted on eight other proposals for board elections, executive pay and shareholder submissions that would require shareholders to have more say in corporate decision-making and to increase transparency in political advertising, human rights issues, and gender and racial diversity. Many shareholders insist that Facebook is too big and influential, and that Mr Zuckerberg’s personal influence is unconstrained, with a dual equity system giving him more than 50 per cent of the company’s voting rights.
Facebook’s shareholder proposals also call for reforms, including the creation of an independent chairman, the abolition of super-voting shares and the replacement of directors who do not have the support of a majority of shareholders. But as a result, all directors were re-elected, and none of the shareholder proposals were approved, including a proposal to remove Mr Zuckerberg as chairman. Facebook will report the actual results in a filing with the Securities and Exchange Commission later.
Shareholders stressed the need for more independent voices because ongoing scandals and controversies have threatened Facebook’s finances and reputation, even though the U.S. Department of Justice has announced extensive antitrust scrutiny of big technology companies.
Susan Perez, portfolio manager at Harrington Investments, points out that Facebook’s 2.6 billion users have given it unprecedented influence, raising the issue of political interference and fraudulent content on the platform.