We feel a responsibility to make sure our services aren't just fun to use, but also good for people's well-being. "We will also be looking for any signs that the weighting of news sites is politically motivated".
Zuckerbergadmitted that by making these changes, he anticipates that the time that people spend on Facebook will go down. Less time, of course, means fewer advertising eyeballs at any given time.
Brands should focus on using Facebook to drive business outcomes, like conversion, instead of engagement.
Facebook has been doing very well financially. If the pre-market declines in shares hold, Facebook will lose almost $23 billion from its market capitalization on Friday as a result of the move, Reuters reports. Its quarterly results routinely surpass Wall Street's expectations. "But those opportunities to get in front of users will be that much more impactful if it's more selective". Zuckerberg already signalled this would happen late past year, when he said the company's planned investments in preventing abuse would hurt profitability.
With this change, Facebook aims give its users a prime spot. At least, that's what the company hopes.
After went public with the news feed change on Thursday, the website's share value dropped by almost four per cent before USA markets opened on Friday.
Facebook took a look at their mountain of data and made that decision for you, replacing publisher content with something that evokes ever-more extreme emotions rather than serious interest in what is actually happening around you.
Facebook co-founder Mark Zuckerberg is paying the price for the latest changes to the social networking site, losing almost $3.3 billion of his personal net worth, according to a Forbes calculation. Now, going forward, News Feed priority will be given to posts from friends, family members and groups. "It has never been this black and white", Stelzner said. It was a tool to communicate and engage with the people you cared about. The company studied the kind of posts that stressed or harmed users, and it wanted to reduce them. So yes, this is possible. And in real life, people don't interact with brands as if they were close friends.
The world's 500 richest people gained US$1 trillion in 2017 and an additional US$192 billion in the first two weeks of 2018, according to the Bloomberg index.
The move is an attempt to make users more engaged with the site by having "more meaningful social interactions". Of course, this is hard to verify independently, since the company doesn't often show that data to outsiders.
"Facebook is already experiencing declines in consumption and the company is responding with these changes today", Wieser said.
Zuckerberg has mentioned that for this year the mission is to "fix" the Facebook, by targeting the abuse and hate content and by ensuring that the time spent on the social giant is well spent and valuable.
Nearly half of USA adults get at least some of their news from Facebook, according to a recent survey from the Pew Research Center.