Zuck was prepared. The Senators weren’t.
Tuesday’s 5-hour Congressional hearings showed how little American politicians understand, let alone how to regulate them. The lawmakers, who came across as out-of-touch old men, had no points to make, apart from trying to score soundbites (compare this with Singapore’s grilling of Facebook a few weeks back). They couldn’t figure out what ad tech is, how advertising works, or what data Facebook collects. Zuck seemed nervous but confident — he’s been coached by internal and external consultants on this. His team even reconfigured a conference room to look like a congressional hearing room. Never underestimate this guy’s ability to learn. Investors were encouraged by Zuck’s performance, and the lowered risk of regulation. They sent the stock up 4.5% at the end of the testimony on Tuesday.