Alphabet, Inc. (GOOG) shares declined 0.2% as of 10:59 a.m. in New York as the company neared the first hour of its testimony before the U.S. Senate Committee on Commerce, Science and Transportation in Washington.
The market appears to be waiting for the company to at the very least to show up, in contrast to a hearing earlier this month when Alphabet executives skipped the public hearing alongside Facebook, Inc. (FB) and Twitter, Inc. (TWTR) executives.
The Mountain View, California-based technology company is set to begin its testimony with some self-effacing statements.
One aspect of Google's testimony that the market has received a peek at is the written testimony from Google's Chief Privacy Officer Keith Enright.
"We acknowledge that we have made mistakes in the past, from which we have learned, and improved our robust privacy program," an excerpt reported by Reuters reads.
At the very least, Enright must defend thecan you company's advertising model and make a case to avoid suffocating legislation.
The company became proactive about this aspect by releasing its own framework in order to help dictate rules on its own terms.
"Regulation can protect individuals and communities from harm and misuse of data, and help maintain the trust that enables innovation and change," the preamble to the framework reads. "Building on our efforts to provide innovative services that rely on personal data, and on our experience with evolving international privacy laws, we have synthesized the following set of high-level principles."
The three-page document, sets forth standards on transparency, consumer privacy, and consumer control of their own personal data.
The company's Public Policy Manager Jon Steinberg authored a blog post in response to the recently published European Code of Practice on Disinformation in Europe this morning as well.
The post again lays out practical frameworks that Google has utilized for policing its platform.
In the framework, the company is stating its intention to work alongside regulators to help steer protections where they need to be.
The Senate's response to these collaborative overtures will be important for investors to take note of once the hearing kicks off at 10:00 a.m. ET.