Sunday April 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 Still Hosting NZ Shooting Footage: Report

Facing flak, the social media giant is now exploring restrictions on who can use its “Facebook Live” feature

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

Despite Facebook’s claim that the livestreaming video of the March 15 Christchurch shooting that killed 50 people was removed from its platforms, sections of the raw footage are still available for users to watch, the media reported.

According to a report in Motherboard on Friday, certain videos on Facebook and Instagram show sections of the raw attack footage.

“The world’s biggest and most well-resourced social media network is still hosting copies of the violent attack video on its own platform as well as Instagram,” the report claimed.

Some of the videos are slices of the original 17-minute clip — trimmed down to one minute or so — and are open to be viewed by anyone.

In one instance, instead of removing the video, which shows the terrorist shooting and murdering innocent civilians from a first-person perspective, Facebook has simply marked the clip as potentially containing “violent or graphic content”.

One of the clips shows the terrorist walking up to the first mosque he targeted, and opening fire. The video does not show the full attack, and stops at the 01:15 mark.

Facebook
Facebook App on a smartphone device. (VOA)

A Facebook spokesperson, however, said “the video did violate our policies and has been removed”.

The Facebook livestreaming of the New Zealand terror attack sparked global outrage. The video was viewed over 4,000 times before it was removed.

The video was later shared in millions on other social media platforms, including Twitter and YouTube.

Also Read- Jack Dorsey Admits Twitter Makes it Easy to Abuse Others

Facing flak, the social media giant is now exploring restrictions on who can use its “Facebook Live” feature.

Earlier this month, New Zealand’s privacy commissioner John Edwards labelled Facebook as “morally bankrupt pathological liars” after the social media platform’s CEO Mark Zuckerberg tried to play down the Facebook livestreaming of Christchurch shooting. (IANS)