Re:Facebook to Invest $300m in Supporting Local News
by darawk on Tuesday January 15, 2019 @01:01PM
(#18913279)
That depends on what you think their investors interests are. Facebook is losing a lot of social capital by pursuing the path that it has. I am an investor in Facebook (not one that matters, just have a few shares), and I, out of pure self interest, want them to reform themselves in this regard. Yes, there is a path to short term profits that aggressively exploits clickbait. However, as is becoming apparent, that path is going to lead to heavy handed regulation and/or a mass exodus from their platforms. Either of those things would be disastrous for future profits, so I don't think, even from a purely self-interested perspective, that it's true that they don't want to solve this problem.
FaceBook makes money from advertising, whatever it takes to get you to stick around and look at ads is going to be the 'news' they are most motivated to present. Do we have any other reason to believe otherwise?