Facebook Looking into "Disrupting Economics" of Fake News Sites | Hacked: Hacking Finance
Hacked: Hacking Finance

Companies

Facebook Looking into “Disrupting Economics” of Fake News Sites

Posted on .

Facebook Looking into “Disrupting Economics” of Fake News Sites

Introduction

This article was posted on Tuesday, 11:28, UTC.

In a Facebook post Friday night, founder of the popular social network Mark Zuckerberg took time to outline the steps the company will take to tackle its “fake news” problem, which has been a hot topic in the wake of the election. One way the social media behemoth plans on doing that is by making sure fake news sites can’t profit. 

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

Mr. Zuckerberg calls it “disrupting fake news economics.”

“A lot of misinformation is driven by financially motivated spam,” he posted. “We’re looking into disrupting the economics with ads policies like the one we announced earlier this week, and better ad farm detection.”

Mr. Zuckerberg underscored that Facebook takes “misinformation serious” and reinforced the company’s goal “to connect people with the stories they find most meaningful.”

// -- Become a yearly Platinum Member and save 69 USD and get access to our secret group on Workplace. Click here to change your current membership -- //

The social media tycoon admits “We’ve been working on this problem for a long time.” There’s more work to be done, he says.

“Historically, we have relied on our community to help us understand what is fake and what is not,” he wrote in the long post. “…The problems here are complex, both technically and philosophically. We believe in giving people a voice, which means erring on the side of letting people share what they want whenever possible. We need to be careful not to discourage sharing of opinions or mistakenly restricting accurate content. We do not want to be arbiters of truth ourselves, but instead rely on our community and trusted third parties.”

Mr. Zuckerberg claims the percentage of misinformation is small, then outlines what Facebook will do, including stronger detection, easy reporting by users, third party verification via fact checking organization, warnings for stories flagged as false by other users, and raising bar for articles which appear in related articles suggestions.

// -- Get exclusive consultation for as low as $249 per month on MoneyMakers.com -- //

“Some of these ideas will work well, and some will not,” he admits. “But I want you to know that we have always taken this seriously, we understand how important the issue is for our community and we are committed to getting this right.”

Image from Shutterstock.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Justin OConnell

Justin OConnell

http://www.cryptographicasset.com

Justin O'Connell is the founder of financial technology focused CryptographicAsset.com. Justin organized the launch of the largest Bitcoin ATM hardware and software provider in the world at the historical Hotel del Coronado in southern California. His works appear in the U.S.'s third largest weekly, the San Diego Reader, VICE and elsewhere.

There are no comments.

View Comments (0) ...
Navigation
The team:
Dmitriy Lavrov
Analyst
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years of trading experience. He covers Forex, Commodities and Cryptocurrencies. He is among the top 10 most Read More
Jonas Borchgrevink
Founder
Jonas Borchgrevink is the founder of Hacked.com and CryptoCoinsNews.com. He is a serial entrepreneur, trader and investor. He shares his own personal journey on Hacked.com. // -- Discuss and ask Read More
P.H. Madore
ICO Analyst
P. H. Madore lives in Arkansas with his wife and children. He has covered the cryptocurrency beat over the course of hundreds of articles for Hacked’s sister site, CryptoCoinsNews, as Read More
Mate Csar
Analyst
Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive Read More
Justin O’Connell
Journalist
Justin O’Connell is a cryptocurrency journalist who works have appeared in the U.S.’s third largest weekly, the San Diego Reader & VICE. // -- Discuss and ask questions in our community Read More
Mati Greenspan
Analyst
Senior Market Analyst at Etoro.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Important: Never invest Read More
Rakesh Upadhyay
Analyst
Rakesh Upadhyay is a Technical Analyst and Portfolio Consultant for The Summit Group. He has more than a decade of experience as a private trader. His philosophy is to use Read More
Pamela Meropiali
Account Manager
Pamela Meropiali is responsible for users on Hacked.com. // -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- // Read More
Joseph Young
Journalist
Joseph Young is a finance and tech journalist & analyst based in Hong Kong. He has worked with leading media and news agencies in the technology and finance industries, offering Read More
During the weekend of 5-6 November, Tesco Bank was hacked…