Bucks co-owner Marc Lasry says Facebook should be regulated like a utility

Bucks owner Marc Lasry fined by NBA for tampering.
Posted at 8:13 PM, Mar 19, 2018
and last updated 2018-03-19 23:55:35-04

Milwaukee Bucks co-owner Marc Lasry thinks the government should be regulating Facebook like a utility.

According to CNBC, Lasry said, "If you look at it right now, I'd argue that really what they are is a utility and they should be regulated because they haven't been able to regulate themselves."

"So therefore, if you have the government coming in and now it's a utility, as a utility there's going to be a limit on what you're going to be able to make."

Lasry's comments followed the allegations that Cambridge Analytica collected data from 50 million Facebook profiles without permission or knowledge.

The company also reportedly worked on Facebook ads for President Donald Trump's election 2016 campaign. Facebook has since suspended Cambridge Analytica, though the company denies making any violations.

Facebook's stock has plummeted more than 7 percent since the allegations, making it the biggest decline in one day since September 2012.