Facebook had a privacy summit while Zuckerberg was away

Someone taking a selfie outside LA

The hearings that ended on Wednesday revealed no consensus among U.S. lawmakers about what kind of privacy legislation they might want to pursue, if any, and no timeline for action.

Although shares of Facebook dipped Thursday morning, they are still up almost 3% since Zuckerberg entered Capitol Hill to face questions from the Senate Tuesday.

They posted their biggest daily gain in almost two years on Tuesday as Mr Zuckerberg managed to deter any specific discussion about new regulations that might hamper Facebook's ability to sell ads tailored to users' profiles.

Sheryl Sandberg, Facebook's chief operating idea, floated the idea in an interview with NBC before Zuckerberg appeared in Congress. The 33-year-old CEO was put on the spot and at times he looked vulnerable as well. Congress wants to get it right, even if they don't totally understand.

Criticism about how Facebook handled smartphone device data followed, with concerns that its mobile apps had a disturbing eagerness to upload all of a user's contacts - not to mention tapping into their messaging - to the cloud.

A day earlier, Zuckerberg said he took personal responsibility for the improper use of 87 million people's personal data by Cambridge Analytica, which worked for Donald Trump's 2016 presidential campaign. He gave no further details.

Since the Cambridge Analytica scandal broke, Facebook has been under intense scrutiny and pieces of information about data policies continue to spring up almost every day, reports COMPLEX.

Zuckerberg said it would take "many months" to complete an audit of other apps that might also have improperly gathered or shared users' data.

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"Most importantly I'm especially dejected that not only are these failures impacting the regular users, I'm extremely sorry that I can't even tell the USA lawmakers who has and hasn't viewed their Facebook profiles", the written statement said.

Lawmakers criticized Zuckerberg on Wednesday for the company's repeated controversies regarding past data privacy issues and its repeated apologies.

"Facebook will be fine", Recode journalists wrote, paraphrasing what Mark Zuckeberg had said during a conference call with reporters on April 4.

Remember that all of these "connections" are known by Facebook and owned by Facebook. For one thing, the microphone would always have to be listening and noting whether something was said that could be of use to advertisers and more importantly, Facebook does not need to spend money to find out what their users think or are interested in, because they have that information already through the users "likes", "loves" and posts.

Zuckerberg squirmed when pressed about a 2011 agreement with the Federal Trade Commission that was created to force Facebook to tighten its privacy controls.

The performance had favorable results.

The Facebook finder and CEO owns more than 401.4 million shares in his company, and following the rise in stock prices, his stake is now worth $66bn (£46.2bn). He did not name specific companies. "Don't say we already do what GDPR requires", one passage from his cheat sheet reminded him.

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