Monday January 21, 2019
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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.
  • 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

Next Story

Facebook Set to Launch a Petitions Feature For its Users

"There are some limits already: users can't tag President Donald Trump or Vice President Mike Pence," said another report in The Verge

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Facebook, data,photos
A television photographer shoots the sign outside of Facebook headquarters in Menlo Park, Calif. VOA

Facebook is set to launch a petitions feature called “Community Actions” that will let users request change from their local and national elected officials and government agencies.

According to a report in TechCrunch late Sunday, “Community Actions” will be a petition feature in Facebook’s News Feed and reach users in the US on Tuesday and other markets later.

“Users can add a title, description, and image to their ‘Community Action’, and tag relevant government agencies and officials who’ll be notified,” the report added.

Supporters for any given petition will be able to discuss the topic with fellow supporters, creating events and fundraisers.

Facebook, data, vietnam
This photo shows a Facebook app icon on a smartphone in New York. VOA

However, the “Community Actions” feature could also provide “vocal interest groups a bully pulpit from which to pressure politicians and bureaucrats with their fringe agendas”.

According to a Facebook spokesperson, “Community Action” is another way for people to advocate for changes in their communities and partner with elected officials and government agencies on solutions.

Also Read- Nepal’s Central Bank Announces Ban of Indian Notes Above Rs 100

Since bad actors can misuse such features, Facebook will use “a combination of user flagging, proactive algorithmic detection, and human enforcers,” to safeguard the “Community Action” feature from falling into wrong hands.

“There are some limits already: users can’t tag President Donald Trump or Vice President Mike Pence,” said another report in The Verge. (IANS)