Mark Zuckerberg’s joke about Facebook’s privacy scandals during the company’s F8 developer conference didn’t land well, CNBC’s Jim Cramer said Wednesday.
“He’s really tone-deaf. It is rather amazing,” Cramer said on “Squawk on the Street. “
Zuckerberg, the company’s CEO, on Tuesday referenced Facebook’s several scandals over the past year, at a time when the company is being questioned for its role in distributing users’ data without their permission.
“I know that we don’t exactly have the strongest reputation on privacy right now to put it lightly,” he said, “but I’m committed to doing this well and to starting a new chapter for our products.”
The social media giant is still facing a slew of controversies and remains subject to investigations and fines. Zuckerberg and other top Facebook executives have been called to testify in front of congressional committees, starting when the public learned that Cambridge Analytica exploited Facebook user data to try to influence the 2016 U.S. presidential election.
“This company has not gotten its reputation back,” Cramer, host of “Mad Money, ” said.
CNBC reported in March that agencies around the world are thought to be still looking into Facebook, including the German Federal Cartel Office, Belgian Data Protection Authority, Irish Data Protection Commission, Securities and Exchange Commission and Federal Trade Commission along with other U.S. organizations.
“Holding Mark Zuckerberg and other top Facebook executives personally at fault and liable for further wrongdoing would send a powerful message to business leaders across the country: You will pay a hefty price for skirting the law and deceiving consumers,” Sen. Richard Blumenthal, D-Conn., a member of the Senate Judiciary Committee, said in an April statement.
Facebook did not immediately respond to a request for comment.