Facebook’s Mark Zuckerberg loses $3.3 billion in one day after announcing major changes.
Mark Zuckerberg is a chief executive officer and co-founder of Facebook. On Thursday, Mark Zuckerberg posted on Facebook and announced major changes in the Facebook news feed. After Announcing the major changes, Facebook losses $3.3 billion in one day. Facebook is one of the largest social media in the world.
According to the Bloomberg, Mark Zuckerberg loses $3.3 billion on Friday after he said content from family and friends, and not media outlets and businesses, will dominate Facebook’s news feed. Facebook’s shares fell as much as 5.5 percent, to $177.40.
Facebook‘s Mark Zuckerberg loses more than $3 billion in one day
A few months ago, Zuckerberg thinking about the Facebook’s mission, because he wanted Facebook to become a place for meaningful social media. His resolution for 2018 was to “fix” Facebook. By this changes, the Facebook’s advertising would be unaffected. The new changes would go down in the short term.
Here’s a Thursday post by Mark Zuckerberg on Facebook
John Ridding, the chief executive of the Financial Times stated that,
The FT welcomes moves to rrecognizeand support trusted and reliable news and analysis. But a sustainable solution to the challenges of the new information ecosystem requires further measures. In particular, a viable subscription model on platforms that enables publishers to build a direct relationship with readers and to manage the terms of access to their content.
According to the other media, Facebook also starts changing in the news feed to prioritize content from friends and family. For example, the posts by users are more viral than the post of stars of restaurant etc.
Mark Zuckerberg is a chief executive officer and co-founder of Facebook stated that,
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. 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.
Facebook is one of the largest social media in the world with more than 2 billion monthly users.