Apple CEO Tim Cook just dunked on Facebook and Mark Zuckerberg

Apple CEO Tim Cook just dunked on Facebook and Mark Zuckerberg

Speaking in an interview with United States network MSNBC and tech site Recode, the Apple chief executive said that while he believed tech firms should self-regulate, it was too late for Facebook.

Cook said Facebook's detailed personal information on its users should not exist in the first place.

"We're not doing the beauty contest", Cook said.

"We could make a ton of money if we monetized our customers, if our customers were our product", Cook said an the interview with Kara Swisher and Chris Hayes. "We've elected not to do that", Cook said. In that conversation, Cook had some opinions about Facebook and Mark Zuckerberg profiting from user's private data.

Cook also said that it is past time to regulate Facebook, claiming "the best regulation is no regulation, is self-regulation". (Ping, a failed social network tied to iTunes, was a product of the Steve Jobs era, after all.) And Apple has championed user privacy to an extreme degree, notably warring with the Federal Bureau of Investigation over a locked iPhone connected to a terrorist attack in San Bernardino, California. It's a civil liberty, and something that is unique to America. Shares in Facebook plummeted more than 17pc from the close on 16 March to 20 March.

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Facebook is facing harsh criticism from privacy experts across the world for manhandling of user's private data.

"As such, Mr Zuckerberg has personally asked one of his deputies to make themselves available".

Apple CEO sat down with MSNBC's Chris Hayes and Recode's Kara Swisher in the forthcoming special Revolution: Apple Changing the World to talk about many issues including immigration and the beauty pageant search for Amazon's next headquarters, but Facebook's recent troubles with data and privacy took center stage.

"I was further appalled to learn that Facebook's reaction to such a violation was to suspend the account of the Cambridge Analytica whistleblower", he added. By Tuesday its stock had plunged 18% wiping out almost $80 billion in market value, and as a result $14 billion has been shaved off Zuckerberg's personal fortune.

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