Facebook's Unwelcome Changes Cost Zuckerberg $3.3 Billion, While New Social Media Platform Pays You To Create Content

Facebook's Unwelcome Changes Cost Zuckerberg $3.3 Billion, While New Social Media Platform Pays You To Create Content

Last week, Facebook announced that they'd be keeping their users in happy little bubbles that wouldn't let anything controversial to appear in their newsfeed. They also made sure that an entire social media platform is devoted to pictures of what others are eating for dinner.


Illustrating how unwelcome that change was after the company announced it’s altering the algorithm to focus on friends and family and exclude news and information, Facebook saw a near-instant drop of 4.4%, which cost Mark Zuckerberg approximately $3.3 billion.


In a Facebook post at the beginning of the year, Zuckerberg claimed that public content that was coming from brands, had inundated news feeds and overtook posts from personal connections. 24 hours after his post, Facebook shares were trading at $179.37, down over 4.4% from the previous day's price of $187.77, according to a Newsweek's report.


“Video and other public content have exploded on Facebook in the past couple of years,” Zuckerberg wrote. “Since there’s more public content than posts from your friends and family, the balance of what’s in News Feed has shifted away from the most important thing Facebook can do—help us connect with each other.”


“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.”

In a nutshell, that new move by Facebook places every user in a “safety” bubble where they're assured never to receive anything that challenges their view of the world, as a means to keep them happy.


Although this move might seem like a good idea to people who are easily triggered by new information, it will inevitably divide people by creating groups who always reinforce the same comfortable opinions fostering a phenomenon mostly known as confirmation bias.


Confirmation bias or ‘myside bias’ refers to the tendency to search for, interpret, favor as well as recall information in a way which confirms one’s preexisting beliefs or hypotheses. Placing everybody in their bubble will, therefore, create multiple bubbles of individuals confirming over and over what would an entirely skewed reality be. When these people finally interact with others who don't share the same skewed reality, the result might be disastrous.


The algorithm shift goes directly against the thought of open-mindedness as paraphrased in Aristotle's famous quote: “It is the mark of an educated mind to be able to entertain a thought without accepting it.”


Facebook is trying to make people believe that all news is good and positive, so they don't need to challenge their worldview, as nothing could go wrong.


While social media's future might seem bleak on the side of Facebook, there's also fantastic news on the side of innovation and free speech and thought. Those who have been paying attention saw the problem: many people use a similar system which is ultimately controlled by those who try to mine our data for profit, control the political narrative, and essentially create a personal database on billions of people.


Rather than trying to change Facebook`s system from within, some individuals decided to build a new system, which demonstrated the obsolescence of the old: Steemit was born.


Check out and follow Thinking Humanity on Steemit.


Steemit's general concept is similar to other blogging websites and social news websites such as Reddit; only the text content is saved in a blockchain. That enables rewarding comments as well as posts with secure tokens of value.


As said in the Steemit White Paper:


Steem combines concepts from social media with lessons learned from building cryptocurrencies and their communities. An important key to inspiring participation in any community, currency or free market economy is a fair accounting system that consistently reflects each person’s contribution. Steem is the first cryptocurrency that attempts to accurately and transparently reward an unbounded number of individuals who make subjective contributions to its community.

Instead of leeching off the wealth made by user-generated content as Facebook does, Steemit returns most of its value to its users by rewarding them with cryptocurrencies. Therefore, many people have started living on the value gained from this particular platform.


According to the White Paper, Steemit provides the five following services to its members:


  1. A source of curated news and commentary.
  2. A means to get high-quality answers to personalized questions.
  3. A stable cryptocurrency pegged to the U.S. dollar.
  4. Free payments.
  5. Jobs providing above services to other members.

As a result, Steemit creates a whole economy out of social media in which everybody—not merely the platform owners—benefits from the creation of content. It's a beautiful model which is constantly being improved.


If you aren't on Steemit, consider checking it out and participating in this social media revolution. While the social media dinosaurs keep on cracking down on users, censoring information, and creating more division among the world, Steemit does the exact opposite. Check out Thinking Humanity on Steemit.


Check out and follow Thinking Humanity on Steemit.


Reference: Thefreethoughtproject.com

Facebook's Unwelcome Changes Cost Zuckerberg $3.3 Billion, While New Social Media Platform Pays You To Create Content Facebook's Unwelcome Changes Cost Zuckerberg $3.3 Billion, While New Social Media Platform Pays You To Create Content Reviewed by Κατερίνα Παπ on 9:46 AM Rating: 5

2 comments

  1. SPEAKING FROM EXPERIENCE WITH GOOD RESULT TO TESTIFY ABOUT

    I am Monica David from Ontario Canada, i want to testify about the good service of Dr. Ugo Wonders living in USA for helping me bring back my fiancee who left me because of a prostitute. it was a terrible and depressing time when my fiancee whom we were supposed to be married in two months cancelled our wedding because of a prostitute who cast a spell on him and stole him away. i was searching for help online when i saw a review about Dr. Ugo of General Spell Temple, i then contacted him for help. I followed all his instruction accordingly as he assured and guaranteed me that my Fiancee will be back in 48 hours, to my greatest surprise in exactly two days after the spell was cast, my Fiance called me and started to apologize for leaving me because of another lady. i waited for two months in which we are now married before i could testify and right now, we are one happy family and its going to remain like this for ever.. all thanks to Dr. Ugo Wonders of General Spell Temple. you can contact Dr. Ugo for any relationship problem through his direct email : [email protected] or call him directly on +1 386-336-9876

    website:http://generalspelltempleblog.wordpress.com



    SPEAKING FROM EXPERIENCE WITH GOOD RESULT TO TESTIFY ABOUT

    I am Monica David from Ontario Canada, i want to testify about the good service of Dr. Ugo Wonders living in USA for helping me bring back my fiancee who left me because of a prostitute. it was a terrible and depressing time when my fiancee whom we were supposed to be married in two months cancelled our wedding because of a prostitute who cast a spell on him and stole him away. i was searching for help online when i saw a review about Dr. Ugo of General Spell Temple, i then contacted him for help. I followed all his instruction accordingly as he assured and guaranteed me that my Fiancee will be back in 48 hours, to my greatest surprise in exactly two days after the spell was cast, my Fiance called me and started to apologize for leaving me because of another lady. i waited for two months in which we are now married before i could testify and right now, we are one happy family and its going to remain like this for ever.. all thanks to Dr. Ugo Wonders of General Spell Temple. you can contact Dr. Ugo for any relationship problem through his direct email : [email protected] or call him directly on +1 386-336-9876

    website:http://generalspelltempleblog.wordpress.com

    ReplyDelete
  2. Pretty good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your blog posts. Any way I'll be subscribing to your feed and I hope you post again soon. Big thanks for the useful info. https://brsm.IO/buy-usa-youtube-views/

    ReplyDelete

Don't show again. Close

Like us on Facebook?