Beleaguered Facebook Inc (NASDAQ:FB) Chief Executive Mark Zuckerberg shot back at Apple Inc (NASDAQ:AAPL) CEO Tim Cook, who slammed the social network in the aftermath of the Cambridge Analytica scandal.
Last week, Cook claimed he would never find himself in Zuckerberg’s predicament because Apple had chosen not to monetize its customers' data.
In an interview with Vox, Zuckerberg who is under fire from a chorus of investors, called Cook’s comments “extremely glib” and “not aligned with the truth.” He also defended Facebook as a free service that helps the world stay connected, as opposed to Apple’s steep premium pricing.
Zuckerberg under pressure to resign
“There are companies that work hard to charge you more, and there are companies that work hard to charge you less,” Zuckerberg said in the podcast on Monday, channelling Amazon.com Inc.(NASDAQ:AMZN) CEO Jeff Bezos’ affordability mantra.
“It’s important that we don’t all get Stockholm syndrome and let the companies that work hard to charge you more convince you that they actually care more about you,” he said taking a dig at Apple.
Facebook shares have been hammered since the mid-March revelation that its user information was harvested by Cambridge Analytics, a data analytics firm whose clients include Donald Trump’s 2016 presidential campaign. Governments on both sides of the Atlantic have sought an audience with the social media king to air their misgivings.
Zuckerberg is under fire as a crisis of confidence at multiple levels threatens Facebook. There have been gathering calls for his resignation from investors and some media commentators believe now is the time for Zuckerberg to spare himself the infamy and resign -- for Facebook’s sake and his own.
Scott Stringer, New York City’s comptroller, who supervises funds with an almost US$1bn stake in Facebook, said changes at the board were needed following the data leak from the social network to Cambridge Analytica.
“It is the eighth largest company in the world. They have two billion users. They are in uncharted waters and they have not comported themselves in a way that makes people feel good about Facebook and secure about their own data,” Stringer told CNBC.
Facebook shares have fallen by roughly 12% over the past month, into correction territory. Shares opened trading down slightly to US$154.80.