Wednesday September 19, 2018
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Facebook might lose $23 billion

This planned change sparked fears people will spend less time on the site, leading to its share stock suddenly dropping.

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In India, Facebook has run a small test with users to enter their names as per their Aadhaar, to help them sign up to the social network with their real names and connect with friends and family.
In India, Facebook has run a small test with users to enter their names as per their Aadhaar, to help them sign up to the social network with their real names and connect with friends and family.
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  • Facebook recently was on the verge of losing $23 billion after they decided to make some changes in the News Feed feature.
  • The change was announced in order to make the time spent on the social networking site more meaningful.
  • However, the change leads to a 4% fall in the share of the Facebook.

Facebook was on course to lose 17 billion pounds ($23 billion) of its value after it announced it was making changes to its News Feed feature that will allow users to see more updates from family and friends than posts from businesses, brands and media.

Facebook share fell 4 percent within hours after Facebook CEO Mark Zuckerberg announced the changes to make the social network more meaningful, The Sun reported.

This change was supposed to make Facebook more meaningful. Pixabay
This change was supposed to make Facebook more meaningful. Pixabay

This could also result in lining them up for its worst financial position in more than three months — and Zuckerberg losing $3.3 billion of his own personal net worth.

“One of our big focus areas for 2018 is making sure the time we all spend on Facebook is time well spent. We built Facebook to help people stay connected and bring us closer together with the people that matter to us,” Zuckerberg posted on Facebook late on Thursday.

The CEO said that Facebook has got a feedback from the community that public content — posts from businesses, brands and media — is crowding out the personal moments that lead us to connect more with each other.

The change will show more posts by family and friends instead of brands and businesses, Pixabay
The change will show more posts by family and friends instead of brands and businesses, Pixabay

“We’re making a major change to how we build Facebook. I’m changing the goal I give our product teams from focusing on helping you find relevant content to help you have more meaningful social interactions,” he said.

“As we roll this out, you will see less public content like posts from businesses, brands, and media. And the public content you see more will be held to the same standard — it should encourage meaningful interactions between people,” Zuckerberg added.

This planned change sparked fears people will spend less time on the site, leading to its share stock suddenly dropping.

Zuckerberg admitted that the new changes might not pay off at first, but believes it is important users have more meaningful social interactions, The Sun said. IANS

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Facebook Introduces New Tools to Protect Elections Globally

In April, Facebook CEO Mark Zuckerberg testified in front of the US Senate, saying they were too slow to spot and respond to Russian interference

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Facebook
Facebook expands security tools to protect elections globally. Pixabay

In order to further secure candidates and campaign staff vulnerable to hackers and nation-state actors during the elections, Facebook has introduced additional tools to protect political campaigns in the US and around the world.

The social media giant has launched a pilot programme to expand its existing protections for users associated with US political campaigns ahead of the 2018 mid-term elections.

“Candidates for federal or statewide office, as well as staff members and representatives from federal and state political party committees, can add additional security protections to their Pages and accounts,” Nathaniel Gleicher, Head of Cybersecurity Policy at Facebook, wrote in a blog post late on Monday.

“We’ll help officials adopt our strongest account security protections, like two-factor authentication, and monitor for potential hacking threats,” Gleicher added.

Facebook
Facebook App on a smartphone device. (VOA)

Over the past year, the company has invested in new technology and more people to stay ahead of bad actors who are determined to use Facebook to disrupt elections.

“This pilot programme is an addition to our existing security tools and procedures, and we will apply what we learn to other elections in the US and around the world,” said Facebook.

“As we detect abuse, we will continue to share relevant information with law enforcement and other companies so we can maximise our effectiveness,” it added.

According to a report in Download, a working paper released last week revealed a significant drop-off in the engagements 570 fake news sites received on Facebook since the 2016 US presidential elections.

“At its peak, there were 200 million monthly engagements with the sites. As of July 2018, that’s dropped to 70 million,” the report added.

Facebook
Facebook, social media. Pixabay

In April, Facebook CEO Mark Zuckerberg testified in front of the US Senate, saying they were too slow to spot and respond to Russian interference.

“Our sophistication in handling these threats is growing and improving quickly. We now have about 15,000 people working on security and content review. We’ll have more than 20,000 by the end of this year,” he told the lawmakers.

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The Facebook CEO apologised for what happened and took responsibility for everything. He also said that there is an online propaganda “arms race” with Russia and it was important to make sure no one interferes in any more elections, including in India.

“The most important thing I care about right now is making sure no one interferes in the various 2018 elections around the world,” he testified before a 44-Senator panel. (IANS)