Mark Zuckerberg, the man behind Facebook’s greed destroys something that has been around for hundreds of years.
Facebook has had huge blows on the Journalism industry over the years. There are 3 different instances that stand out. The first is that they killed the importance of brands. People don’t know where they get their information anymore because they just read it on Facebook. The second way they destroyed it was getting rid of the importance of authors and who wrote what article. And the third and probably most devastating blow they had on Journalism is stealing their business with their advertising process, leading them to take most of the money for themselves.
Just going to Facebook and barley even scrolling down I immediately found the very ads that are feeding Facebook and destroying the Journalism industry on the bottom right corner.
Facebook has made an insane amount of money from their ad revenue. You can see a chart showing their growth and revenue from the ads they run on their website
And if that wasn’t enough, Zuckerberg made an announcement that is going to reduce fake news and clickbait. The way that he’s going about this is asking the users on Facebook to decide what is what news is trust worthy and what news is not. Zuckerberg stated that “the changes would promote content likely to encourage meaningful interactions with people, while Mosseri, the man in charge of news on Facebook said, “it would inspire discussion in the comments,” and “that you might want to share and react too.”
Their goal is to get rid of fake news, but these statements contradict that idea. If the people are choosing what they want and what they find more interesting, they will almost always choose the more exciting news. Fake news is more often than not far more interesting that real news. A former Facebook product manager stated, “Sadly, news feed optimizes for engagement [and] as we’ve learned in this election, bullshit is highly engaging.”
Zuckerberg is once again giving the Journalism industry a huge blow. It won’t be long until Authors will give up writing stories if they’re name is continually buried and forgotten. Also, up and coming journalists will see that this is a dying industry and give up on their dreams. If there are no writers there are no stories, and if there are no stories there are no news media business, and there are already taking a huge blow by losing their money to Facebook’s ad revenue.
Facebook will go down in history as the thing that killed Journalism.