Zuckerberg on the downside of banning targetted ads

"It's true that making it more difficult to target ads, would affect the revenue of companies like Facebook. But the much bigger cost of such a move, would be the reduced effectiveness of the ads and opportunities for small businesses to grow. This would reduce opportunities for small business so much, that it would probably be felt at a macro-economic level. Now is that really what policy makers want, in the middle of a pandemic and recession? The right path, I believe, is regulation that keeps people's data safe, while allowing the benefits of this kind of personalised and relevant advertising." - Zuck, Facebook 2020 Q2 Earnings Call Source: https://youtu.be/xm3DtoGcrow?t=347 (timestamped)