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People are really unhappy with Facebook and revelations that the company hasn’t been protecting user data the way it should. People just aren’t unhappy enough to actually leave Facebook. At least that’s what CEO Mark Zuckerberg says.

During a conference call with reporters today, when Recode asked Zuckerberg if the backlash from the Cambridge Analytica fallout — including a #DeleteFacebook hashtag that has circulated online over the last few weeks — had hurt Facebook’s business or usage at all, he seemed to downplay concerns of a material shift.

“I don’t think there’s been any meaningful impact that we’ve observed,” he said. “But, look, it’s not good ... It still speaks to people feeling like this was a massive breach of trust and that we have a lot of work to do to repair that.”

The idea that Facebook can go through this kind of backlash without a notable dent to its business is a testament to how big the service has become, and how consumers may not actually be as angry with the company around its privacy policies as it appears on the surface.

Still, investors have been concerned. Facebook stock is down more than 15 percent since the Cambridge Analytica drama came to light almost three weeks ago. The company is scheduled to report its first-quarter financial results on April 25.

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