While Facebook CEO was busy responding to US Congressional committee on the recent Cambridge Analytica data scandal, Tesla and SpaceX founder and CEO Elon Musk shared his views on regulation of social media as well.

Elon Musk, founder, CEO and lead designer at SpaceX and co-founder of Tesla. Reuters

Speaking to Gayle King on CBS This Morning show, Musk said that if there is something that affects the public good, then there needs to be some form of public oversight to it.

"I think there should be regulations on social media to the degree that it negatively affects the public good. We can't have like willy-nilly proliferation of fake news, that's crazy," said Musk according to CNBC. He also mentioned that there should be regulations on artificial intelligence as well.

Musk also expressed that the prospect of having more clicks on fake news than the real news was scary and propagates public deception to go unchecked.

On the first day of the Congressional hearings, Mark Zuckerberg expressed that he was open to regulation if it came to that.

"I think the real question, as the internet becomes more important in people's lives, is what is the right regulation, not whether there should be or not," Zuckerberg said yesterday.

It’s not a political statement and I didn’t do this because someone dared me to do it. Just don’t like Facebook. Gives me the willies. Sorry.

— Elon Musk (@elonmusk) March 24, 2018

This is not the first time, Musk has expressed his views in the Facebook-Cambridge Analytica data scandal.

Towards the end of March when someone dared Musk to delete the Facebook pages of Tesla and SpaceX, he obliged. Although later in a series of tweets he mentioned that he didn't delete Facebook pages of his companies out of a dare. Personally, he has never had a Facebook account he said, but he is fine with using Instagram so long as it stays fairly independent.