David Dodson is a lecturer in management at the Stanford School of Business. The opinions expressed in this article are his own.

"Senator, we run ads." That's what Mark Zuckerberg told Senator Orrin Hatch earlier this year during his congressional testimony when asked to describe Facebook's business model.

The 84-year-old senator was later mocked on social media for not understanding modern technology. But I'd argue that the wily senior senator understood Facebook's business quite well. Hatch was simply getting Mark Zuckerberg to say it out loud.

Sometimes it takes an old guy to call out a youngster. Hatch knew that it was time for us to stop referring to Facebook as a tech company. As his spokesman reportedly noted later, Hatch was just using "a common tactic used in Congressional hearings to make a point."

Facebook runs ads based on the information it has collected about you. And it has used the imprimatur of "technology" to shift our attention so it — as well as Google — can operate under a different set of rules than all the other media companies that run ads. By clinging to its definition of being a technology company, Facebook and other social media companies enjoy protections under the Communications Decency Act that immunize them from being held liable for hate and other objectionable speech, libel and falsehoods in news stories and advertising that media companies do not.

To be sure, Facebook utilizes technology, but that doesn't make it a tech company any more than Exxon Mobil (because it uses instruments to find oil) or Burlington Northern (because it's based on the invention of the steam engine)." David Dodson

For media companies that run ads, especially ones that use public networks, we tell them that they can't lie or mislead, that it's not okay to advertise cigarettes to children or push prescription drugs without including the risks. We have laws governing deceptive advertisements and Truth in Advertising laws. Companies that run ads can't say a car gets 40 miles per gallon unless it's true. They can't say a movie won an Academy Award unless it did. If you say the wool comes from New Zealand, it must.

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