Facebook’s Fraught Future

Facebook’s failed attempt to foil Fake News while fortifying financial fortunes at the expense of friends’ futures finally finds itself facing fearless foes. Okay, I can’t keep that up but I hope you get the idea. After an amazing decade of growth and incredible buy-in from more than 2 billion users, Facebook is finally getting some push-back. Investors and executives who have since left the company are publicly saying what others have wondered for some time: is Facebook too big and too focused on monetizing audience members’ attention for our own good? Here’s what some are saying:

In response to the criticism Facebook announced a change to the algorithm that dictates the contents of your news feed. According to Facebook,

…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 helping you have more meaningful social interactions.

We started making changes in this direction last year, but it will take months for this new focus to make its way through all our products. The first changes you’ll see will be in News Feed, where you can expect to see more from your friends, family and groups.

As we roll this out, you’ll 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.

While some may criticize this change as too-little, too-late, others may question whether these are mere cosmetic changes simply designed to deflect criticism. But it is fairly clear that several things are going to happen as a result: time spent on Facebook and engagement will both decline, (resulting in lower revenue for Facebook), and media companies that have relied on Facebook to distribute their content far and wide will have to find other ways to reach their audience.

But look on the bright side: that change will provide new opportunities for media-savvy storytellers who know how to reach an audience with compelling content. And that person could be you!

 

 

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