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And don't miss Shira Ovide on how Facebook works: "Zuckerberg found it hard to plainly acknowledge that Facebook tracks users from device to device, collects information on websites people visit and apps they use, gathers information on people's physical locations, collects phone call logs from Android smartphones and pulls in some online activity from people who don't even have Facebook accounts.
Zuckerberg declined to acknowledge that Facebook's ad system and products are informed by all of this information gathering on and off the social network. If Facebook were a true bargain with users -- they get a useful, free service in exchange for seeing advertising based on their interests and activity -- then Zuckerberg should be comfortable explaining how it all works.
Instead, given the option to articulate Facebook's relationship with users (and non-users), he dodged. A lot."
This column does not necessarily reflect the opinion of Bloomberg LP and its owners.
Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.
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