How Zuckerberg lost R40.8 billion in less than a week

Nettie James
January 16, 2018

The social network recently announced that user feeds will now feature less news and other public content and more of the personal photos and status updates that first fuelled its popularity.

And you'll see fewer cooking videos from brands and publications.

Based on this, we're making a major change to how we build Facebook.

Last week, Mark Zuckerberg outlined upcoming algorithmic changes to what Facebook shows you on your Newsfeed.

The announcement itself is rather vague in what consumers can expect - will they see all posts from friends/family members? will they see some ad posts, from brands they regularly interact with? what happens to sponsored and other advertisement type posts? what might this move mean for publishers, who are increasingly using Facebook to drive traffic to their sites? "And the public content you see more will be held to the same standard - it should encourage meaningful interactions between people", Zuckerberg added.

Even if the idea of monetising users' private interactions through ads becomes universally accepted, downgrading the media element in social media may be more hard than it would have been to restart Facebook (and even Snapchat) from scratch. "But I also expect the time you do spend on Facebook will be more valuable", he said.

Facebook has always been criticized for creating "filter bubbles", the echo chambers of friends and like-minded people whose views are reinforced by their friends' posts on the platform.

McNamee said Zuckerberg should appear before Congress to justify Facebook's "refusal to accept responsibility" for harming users. During the early days of Facebook, the focus was simply on communication between friends, but over the past couple of years it began to actively promote and push content from media companies into users' feeds.

"Media outlets have already seen a big drop in Facebook results due to other algorithm tweaks, so this isn't a big shock", Lau said. "The world feels anxious and divided", Zuckerberg wrote, "and Facebook has a lot of work to do-whether it's protecting our community from abuse and hate, defending against interference by nation states, or making sure that time spent on Facebook is time well spent".

Facebook wants the latest version of its News Feed to be "more fulfilling" and "good for your well-being".

It likely will end - or at least reduce the effectiveness of - the common tactic of throwing every article up on the publisher's Facebook wall to see what sticks.

"In response to all the recent changes from Facebook, publishers are doubling down on channels they can more directly influence such as direct, referral and email".

Facebook has been under fire for months for the proliferation of Russian-created "fake news" on the platform that may have impacted the 2016 presidential election.

From the list of settings options, click on "News Feed Preferences". For example, live videos often lead to discussion among viewers on Facebook - in fact, live videos on average get six times as many interactions as regular videos.

To cement the unholy legacy, Facebook's hordes of lawyers and its top executives continue to claim Facebook is not a media company and therefore should not be regulated in any way. Facebook allows users to customize their news feeds by clicking "See First" on the news feed tab of a page they follow.

Other reports by Insurance News

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