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Recode Daily: Facebook has two very different reports for Congress and Wall Street today

Plus: Everything you need to know about the D.C. hearings, the iPhone X reviews reviewed, and today’s gossip is tomorrow’s news.

Sen. John Kennedy (R-Miss.) questions witnesses during a Senate Judiciary Subcommittee on Crime and Terrorism hearing.
Sen. John Kennedy
Drew Angerer / Getty

A driver plowed a pickup truck down a crowded bike path along the Hudson River in Manhattan yesterday, killing eight people and injuring 11 before being shot by a police officer. The suspect, Sayfullo Saipov, is in critical condition. He moved to the U.S. from Uzbekistan in 2010 and eventually became an Uber driver; in response, Donald Trump vowed to “to step up our already Extreme Vetting Program.” [The New York Times]

Lawyers representing Facebook, Google and Twitter testified yesterday at a Senate Judiciary subcommittee hearing on how to combat extremist content and Russian disinformation on their social media platforms. Here are some of the tweets and Facebook ads Russia used to try and influence the 2016 presidential election. Republican Sen. John Kennedy praised the three companies for being “American,” but admitted, “your power sometimes scares me.” That, in fact, is one of Recodes five takeaways from the first of this week’s three hearings. Here’s how to watch today’s rounds two and three; go deeper with our time-stamped live updates and commentary from the testimony. [Kurt Wagner and Tony Romm]

Sen. Mark Warner, who is leading the Capitol Hill inquiry, told Recode that he still isn’t sure if the tech industry has done the fullest accounting of Russia’s disinformation efforts on its platforms. Warner pledged to press Facebook, Google and Twitter on how they police their platforms, urging his colleagues to support his proposed measure, the Honest Ads Act, which targets online political ads. So far, Silicon Valley hasn’t been crazy about more regulations. [Tony Romm / Recode]

When Facebook reports Q3 earnings this afternoon, its revenue is expected to be up more than 40 percent over last year, with stock up almost 45 percent since Election Day. Investors and advertisers don’t seem worried about what’s happening in Congress. [Kurt Wagner / Recode]

SoftBank is joining forces with Facebook and Amazon to build an 8,700-mile transpacific subsea cable connecting Asia with North America. The Jupiter cable system project — which promises an expandable capacity of 60Tbps — is expected to be finished by 2020. [Paul Sawers / VentureBeat]

We hope we’ve helped you catch up on the first day of congressional testimony by Twitter, Google and Facebook. If you want to go deeper, listen in as Yelp VP Luther Lowe and trial lawyer Beth Wilkinson break it down on the Recode Decode podcast with Kara Swisher and political strategist Hilary Rosen. [Eric Johnson / Recode]


Recode presents ...

Do you have questions about Amazon’s hardware, including the Echo/Alexa devices and the recently announced Amazon Key? Recodes Kara Swisher and Jason Del Rey will be talking about those devices on the Too Embarrassed to Ask podcast this week. So tweet your questions with the hashtag #TooEmbarrassed or email them to TooEmbarrassed@recode.net.


Top stories from Recode

Alphabet’s driverless cars still aren’t driverless.

It takes a long time and a lot of staged incidents for a car to learn how to drive itself.

iPhone X review review: They mostly like it!

Face ID seems to work well enough.

This is cool

Todays gossip is tomorrows news.


This article originally appeared on Recode.net.

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