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Over the last week-end, much has been written in the media about social network Facebook’s CEO Mark Zuckerberg’s latest post on News Feed. This Website, too, had reported on it.
Many say that this is the end of FB’s journey with publishers. Mark. Z said going forward, FB would focus more on family & friends, something that was the original thought behind the setting up of the social network. The Guardian, for example, said Facebook’s business model had relied on social-validation feedback loops, which kept people coming back for more – cue billions worth of revenue from advertising. Changing this required a major culture shift within the company’s 17,000+ workforce, not to mention at Facebook-owned Instagram.
In another piece in The Medium, Sr Research Fellow at the John S. Knight Journalism Fellowship, Standford Frederic Filloux has said FB was done with “quality journalism”. In his piece under the blog titled, ” Monday Note”, Frederic writes, “For Facebook, journalism has been a pain in the neck from day one. Now, bogged down with the insoluble problems of fake news and bad PR, it’s clear that Facebook will gradually pull the plug on news. Publishers should stop whining and move on.”
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