Facebook to train 50,000 Nigerian SMEs in 2018In what many have described as "bad news for businesses", Facebook has announced a decision to cut back on the amount of public content - posts from businesses, brands and media - that users on the platform are exposed to.
While news should continue to be a big part of what Facebook users read, the change does highlight the company's power "to decide (and alter) the kinds of information that people are exposed to", said David Chavern, chief executive of the News Media Alliance, a group of about 2,000 organisations pressing for a larger share of the revenue their content generates on the social-media service.
Tweaking the news feed to encourage people to talk about their personal lives might, therefore, be seen as a means of increasing Facebook's commercial value.
John Hegeman-the News Feed product manager said that this update would be giving more weight to the social interactions and relationships by ranking the posts in such order. "But I also expect the time you do spend on Facebook will be more valuable", said Zuckerberg.
Facebook founder and CEO Mark Zuckerberg.
The research shows that when we use social media to connect with people we care about, it can be good for our well-being. Zuckerberg goes on to write, "By making these changes, I expect the time people spend on Facebook and some measures of engagement will go down".More news: Supreme Court to look at Ohio's voter-removal laws
Facebook CEO Mark Zuckerberg wants the time users spend on the social network to be more meaningful, so an overhaul is in store. "We can feel more connected and less lonely, and that correlates with long-term measures of happiness and health". The head of Facebook's news feed admitted that some pages "may see their reach, video watch time and referral traffic decrease".
Andrew Bosworth, Facebook's vice-president for consumer hardware and in-charge for Augmented and Virtual Reality, neither confirmed or denied early speculations regarding their latest project, but posted a tweet saying that 2018 will be an exciting year for AR/VR.
Zuckerberg explains that since businesses, brands, and public pages post far more content than friends and family usually do, it's understandable why Facebook has come to show more public content than personal one. Companies, advertisements, and videos clogged up users' News Feeds. He could name a professional journalist as a public editor, and give him or her an inside view of Facebook's media operations-and let them report on the company's impact on the media. He added that the news feed update relating the ranking of posts is expected to assist the goal. In fact, live videos on average get six times as many interactions as regular videos. Some news helps start conversations on important issues.
At least one study has shown that Facebook users are influenced by their friends and family members' actions and reactions on the site.
Shares of Menlo Park, California-based Facebook tumbled 4.5 per cent on Friday in NY, cutting Zuckerberg's fortune to US$74 billion on the Bloomberg Billionaires Index.
Zuckerberg, however, sees the change as a readjustment toward what Facebook was meant to do all along: connect people. "Good on Facebook - they are doing the right thing, long-term".