Facebook's Mark Zuckerberg change of heart just cost him $3.3 billion

Here is why Facebook might lose $23 billion

BBC Minute: On Facebook's News Feed

Facebook boss Mark Zuckerberg has announced changes to how the social network's news feed works, making posts from businesses, brands and media less prominent. That suggests investors take Facebook seriously when it says the move will likely make users spend less time on its service.

Fall in shares has reached up to 6.1% ahead of the open market, following the closing just below the flatline on Thursday.

That will leave businesses that want publicity on Facebook no choice but to spend more on advertising, and as a result prices will climb, predicted Eric Schiffer, chairman of Reputation Management Consultants, which advises corporate brands on social media. He wants you to forget the time Facebook made you hate everything.

While he acknowledges that Facebook may never be completely free of malign influences, Zuckerberg says that the company now makes "too many errors enforcing our policies and preventing the misuse of our tools". Facebook says its research shows that users are exposed to more divergent views on its platform than they would be otherwise, but that's hard to verify independently since the company is cautious about providing data to outsiders.

"It should encourage meaningful interactions between people", Mr Zuckerberg said.

"If this change is as significant as they describe it, news organizations will go out of business or succeed based on a change that they didn't necessarily have input on", Kint said.

Here's a look at some of the ways the company has changed the posts appearing in users' customized news feeds, which launched in 2006, as well as some of the factors it uses in deciding what makes up those feeds. As the company tries to return to its friends-and-family roots, news outlets like BuzzFeed, CNN, The Washington Post and The New York Times will be watching closely.

Facebook's new direction comes at a time when political discourse is often heated in the United States and nationalist groups are on the rise in other parts of the world.

"If Facebook downplays "low quality" publishers, as is widely rumored, it could be a net positive for Gizmodo, Jezebel, The Root and our other brands", Narisetti said in an email. With the changes, the company will prioritize posts that it believes are likely to spur discussion among people who know one another and reduce the kind of content that people simply scroll past or watch. In this charged atmosphere, agents working for a Kremlin-linked company, the Internet Research Agency, disseminated content that reached an estimated 126 million users in the United States in 2016, Facebook revealed to Congress during hearings on the matter a year ago.

How do Facebook's planned news feed changes affect me?

Facebook has been under fire for months for the proliferation of Russian-created "fake news" on the platform that may have impacted the 2016 presidential election. How does Facebook decide what's clickbait?

Many publishers have already recognized that they must spread their content beyond Facebook. In the past, Facebook has placed more emphasis on serving up posts that match your interests. Facebook has introduced a series of changes meant to address the problem.

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