We do not monetise our customers: Tim Cook criticises Facebook

Facebook CEO Mark Zuckerberg recently reacted to Tim Cook's criticism saying that Cook's comments on Facebook were unfounded. 

Zuckerberg, in an interview on Monday, defended his company's business model and called Cook's comments "extremely glib", not "aligned with the truth".

Tim Cook's comments came in the wake of the ongoing Facebook data breach row. When asked how would he have handled the situation, Cook replied saying that he would not have been in such a situation in the first place. 

Tim Cook further noted that a company can make a lot of money by monetising its customers, but "we have elected not to do that".

Zuckerberg took a defensive stance stating that not everyone one can afford to pay for a service that helps connect everyone in the world. 

"Having an advertising-supported model is the only rational model that can support building this service," he told a leading American media house. 

Cook, in a recent interview, pressed for more stringent regulations on social media. He questioned the practice of monetising user data by selling ads that let advertisers identify their target group of users.

Facebook, on the other hand, is an entity that thrives on selling such advertisements.

The Mark-Zuckerberg-led company has come under the scanner over user data breach of close to 50 million users.

Zuckerberg recently admitted to having "made mistakes" over the Cambridge Analytica scandal. He apologised for the "breach of trust" that had occurred between Facebook and its users.