Mark Zuckerberg says it's Facebook's way – or China's way.
Facebook's founder and CEO wants to tell Congress that the social network's controversial digital currency project, Libra, is essential to projecting American leadership around the world.
"China is moving. China is moving." China is moving
"I believe [Libra] wants to extend America's financial leadership as well as our democratic values and oversight around the world." If America does not innovate, our financial leadership is not guaranteed. "
Zuckerberg frequently invokes China as a rival to American technology supremacy and American values.
Last week in a speech at Georgetown University in W ashington, he said: "Until recently, the internet in almost every country outside."
China has been defined by American platforms with strong free expression values. There's no guarantee these values will win out, "he said.
Zuckerberg is back in the Capitol Hill as Facebook faces immense pressure over the lives of its more than 2 billion users.
Here are five questions he could face in the hearing room.
Is Facebook really going to launch a currency?
Facebook says Libra would let users around the world – especially those without traditional bank accounts – send it as a message 27 founding partners, including financial services companies.
But Libra hit hurdles as soon as it was announced
Visa, MasterCard and the digital payment PayPal and Stripe.
Their departures have left some analysts doubting that the project can go forward.
"Libra sounds dead on arrival," said Michael Pachter, an equities analyst at Wedbush Securities. "I do not think that they can and do not pay attention to themselves."
In his prepared remarks, Zuckerberg acknowledged that Facebook is "not the ideal messenger right now." We've been facing a lot of issues over the past few years, and I'm sure people are putting it on Facebook. " And he said Libra does not want to be "anywhere in the world unless all US regulators approve it."
Has Facebook done enough to stop discrimination in advertising?
Housing is the other headline subject of Wednesday's hearing. Facebook has been hit with a federal lawsuit by the Department of Housing and Urban Development for Allegedly Enabling Housing Discrimination.
The allegations stem from Facebook's ad targeting tools.
"Facebook is discriminating against people based on who they are and where they are live," in violation of the Fair Housing Act, HUD Secretary
Hud Hits Facebook For Allowing Housing Discrimination “/>
Nicol Turner Lee, a fellow at The Brookings Institution's Center for Technology said it may be intended to do so.
But they said they needed to take more care of the technology .
"We have to guard ourselves, are we like to clear the guardrails that are protecting human and civil rights, and the extent to which they are building products and services is that comply with those laws? " she said.
On Tuesday it pledged $ 1 billion toward affordable housing in California.
Facebook has stopped advertising ads for housing, jobs and credit to their ethnic group.
19659008] In Zuckerberg's Prepared Remarks, he said, "It's not enough to discriminate against any of our services."  Why does not Facebook stop politicians from lying?
Facebook's latest firestorm is about advertising.
Critics are furious about the social network's policy of allowing politicians to publish misleading or downright untrue posts and ads on its platform. Zuckerberg wants to be sure about this topic again on Wednesday.
Facebook says its policy flows from its commitment to free speech.
Zuckerberg strongly defended this position in his Georgetown speech last week, positioning Facebook
"While I do not care about the erosion of truth, I do not think most people want to live in a world where you can only 100% true, "he said.
But that has not satisfied critics. Democratic presidential candidate Sen. Elizabeth Warren of Massachusetts ran her own deliberately false Facebook ad to protest the policy. In it, they incorrectly claimed Facebook and Zuckerberg had endorsed President Trump.
"Once again, we're seeing Facebook throwing its hands up to battling misinformation in the political discourse, because when profit comes up against protecting democracy, Facebook chooses profit [War] tweeted in explanation of her ad.
In his Georgetown speech, Zuckerberg said he had considered dropping political advertising altogether – noting that it was just a fraction of Facebook's billions of dollars in annual sales ,
What is it that makes the 2020 election from a repeat of 2016?
With U.S. Intelligence agencies warning people to try their luck on Facebook.
Zuckerberg gave an update on Facebook's election security efforts on Monday.
For example, the site wants […]
But the scope of the issue is "state-controlled," which means "wholly or partially under the editorial control of their government." Facebook said it has removed more than 50 search networks, which could attempt to manipulate its users, in the past year.
The Kremlin-backed troll farm in Iran, while the fourth originated in Russia and some left to the Internet Research Agency Volved in political interference in 2016, Facebook said.
Zuckerberg told reporters on Monday that security is "one of my top priorities for the company" and that Facebook is no longer "on our back foot" when it comes to identifying fake accounts.
Is Facebook too powerful?
Congress is asking for tough questions about Facebook. The Federal Trade Commission, the Department of Justice and a group of 47 general investigators are all investigating Facebook for potential antitrust violations.
New York Attorney General Letitia James said Tuesday.
Some critics are calling for the company to be broken up, or for its acquisitions of Instagram and Whatsapp to be unwound. Warren has made the breakup of Facebook – along with Google and Amazon – a key part of her campaign platform.
Some tech veterans agree. Marc Benioff, Salesforce CEO, told CNN that Facebook is "addictive" and has too much control of users' data – and should be broken up. "They're having an undue influence as the largest social media platform on the planet, "he said.
And even a Facebook co-founder has turned on the company. Chris Hughes, who was one of Zuckerberg's roommates at Harvard, launched a $ 10 million anti-monopoly fund to support policy.
Zuckerberg bristles at the idea of breaking up his company. Facebook said it would "fight" any effort to do any legal challenge.
At Georgetown last week, Zuckerberg acknowledged criticism of big tech – but deflected the argument.
"I believe the common big thing is that they have a decentralized power by putting it directly into people's hands". "he said.
Editor's note: Facebook is among NPR's financial supporters.