‘We face intense competition’ -Facebook CEO

In his opening remarks during a much-anticipated congressional hearing featuring the CEOs of four of America’s largest tech firms, Facebook Inc’s Mark Zuckerberg on Wednesday defended his company against allegations by critics that the social network has hurt competitors with their business practices.

Appearing via videoconference before the House Judiciary Committee’s antitrust panel, Zuckerberg said Facebook itself faces competition and pushed back against claims it is dominant.
“In many areas, we are behind our competitors,” Zuckerberg said. “And for every dollar spent on advertising in the U.S., less than 10 cents is spent with us.”

Zuckerberg also told lawmakers that China is building its “own version of the internet focused on very different ideas, and they are exporting their vision to other countries.”.

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