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A word of advice for Congress as it ponders new schemes for internet regulation after the "perp walk" this week of Facebook tycoon Mark Zuckerberg: Don't do it.It's obvious to users now that Facebook's business model isn't about making the world better, but obtaining information about its customers and profiting from it.Zuckerberg outlined other needed reforms: The company will restrict the data it shares with app developers, increase its security and require political advertisers to confirm their identity.Is the underlying "marketplace of ideas" experiencing market failure?A world where Russia's Internet Research Agency could feed fake news to Facebook was unimaginable – or at least unimagined.Watching Zuckerberg being grilled Tuesday, it was obvious that this market can be better protected by the companies, so that hidden incentives don't skew it toward extremism and toxicity.The market will correct most of Facebook's problems.I'd be happier if the reality-detection system were operated by private companies.
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