The Bankwatch

Tracking the consumer evolution of financial services

Facebook fake news is not new

This is the thin edge of the wedge that goes way deeper.

Back in 2006 the Walmart fake marketing situation erupted. The basic theme goes back to the “on the internet nobody knows you are a dog”. You can say anything with conviction and supposed analysis and it must be true because it is there on the internet.

Now there is an even deeper school of thought that this is not new, and that marketing has always been this way.

However the adoption of technology with the complete absorption by a whole new demographic means fake news becomes real news. We have a rapid ignoring of MSM by all generations.

However I am not sure that it is any worse than it has ever been with biased opinion-ed comments in MSM. But Facebook is more pervasive and visible, and all problems point to Mark. That does make this a new problem.

Now, having said all that the talking points that Mark outlines below are frankly useless. For example the reference to fact checking is just that … a reference.

I publish this blog and I post periodically, much less than before due to actual work matters but it is here and it is me. The people who read my blog have some interest in banking technology. Whereas Facebook et al have the problem of talking to everyone with varied interests.

This is an extreme comparison but it highlights the problem Facebook faces. It is possible to become so large that you influence such a large group which was never expected. How do you manage that.

 

 

 

__________

Mark Zuckerberg
November 19 at 1:15am ·
A lot of you have asked what we’re doing about misinformation, so I wanted to give an update.
The bottom line is: we take misinformation seriously. Our goal is to connect people with the stories they find most meaningful, and we know people want accurate information. We’ve been working on this problem for a long time and we take this responsibility seriously. We’ve made significant progress, but there is more work to be done.
Historically, we have relied on our community to help us understand what is fake and what is not. Anyone on Facebook can report any link as false, and we use signals from those reports along with a number of others — like people sharing links to myth-busting sites such as Snopes — to understand which stories we can confidently classify as misinformation. Similar to clickbait, spam and scams, we penalize this content in News Feed so it’s much less likely to spread.
The problems here are complex, both technically and philosophically. We believe in giving people a voice, which means erring on the side of letting people share what they want whenever possible. We need to be careful not to discourage sharing of opinions or to mistakenly restrict accurate content. We do not want to be arbiters of truth ourselves, but instead rely on our community and trusted third parties.
While the percentage of misinformation is relatively small, we have much more work ahead on our roadmap. Normally we wouldn’t share specifics about our work in progress, but given the importance of these issues and the amount of interest in this topic, I want to outline some of the projects we already have underway:
– Stronger detection. The most important thing we can do is improve our ability to classify misinformation. This means better technical systems to detect what people will flag as false before they do it themselves.
– Easy reporting. Making it much easier for people to report stories as fake will help us catch more misinformation faster.
– Third party verification. There are many respected fact checking organizations and, while we have reached out to some, we plan to learn from many more.
– Warnings. We are exploring labeling stories that have been flagged as false by third parties or our community, and showing warnings when people read or share them.
– Related articles quality. We are raising the bar for stories that appear in related articles under links in News Feed.
– Disrupting fake news economics. A lot of misinformation is driven by financially motivated spam. We’re looking into disrupting the economics with ads policies like the one we announced earlier this week, and better ad farm detection.
– Listening. We will continue to work with journalists and others in the news industry to get their input, in particular, to better understand their fact checking systems and learn from them.
Some of these ideas will work well, and some will not. But I want you to know that we have always taken this seriously, we understand how important the issue is for our community and we are committed to getting this right.
A lot of you have asked what we’re doing about misinformation, so I wanted to give an update.
The bottom line is: we take misinformation seriously. Our goal is to connect people with the stories they find most meaningful, and we know people want accurate information. We’ve been working on this problem for a long time and we take this responsibility seriously. We’ve made significant progress, but there is more work to be done.
Historically, we have relied on our community to help us understand what is fake and what is not. Anyone on Facebook can report any link as false, and we use signals from those reports along with a number of others — like people sharing links to myth-busting sites such as Snopes — to understand which stories we can confidently classify as misinformation. Similar to clickbait, spam and scams, we penalize this content in News Feed so it’s much less likely to spread.
The problems here are complex, both technically and philosophically. We believe in giving people a voice, which means erring on the side of letting people share what they want whenever possible. We need to be careful not to discourage sharing of opinions or to mistakenly restrict accurate content. We do not want to be arbiters of truth ourselves, but instead rely on our community and trusted third parties.
While the percentage of misinformation is relatively small, we have much more work ahead on our roadmap. Normally we wouldn’t share specifics about our work in progress, but given the importance of these issues and the amount of interest in this topic, I want to outline some of the projects we already have underway:
– Stronger detection. The most important thing we can do is improve our ability to classify misinformation. This means better technical systems to detect what people will flag as false before they do it themselves.
– Easy reporting. Making it much easier for people to report stories as fake will help us catch more misinformation faster.
– Third party verification. There are many respected fact checking organizations and, while we have reached out to some, we plan to learn from many more.
– Warnings. We are exploring labeling stories that have been flagged as false by third parties or our community, and showing warnings when people read or share them.
– Related articles quality. We are raising the bar for stories that appear in related articles under links in News Feed.
– Disrupting fake news economics. A lot of misinformation is driven by financially motivated spam. We’re looking into disrupting the economics with ads policies like the one we announced earlier this week, and better ad farm detection.
– Listening. We will continue to work with journalists and others in the news industry to get their input, in particular, to better understand their fact checking systems and learn from them.
Some of these ideas will work well, and some will not. But I want you to know that we have always taken this seriously, we understand how important the issue is for our community and we are committed to getting this right.

Written by Colin Henderson

November 21, 2016 at 01:33

Posted in Uncategorized

One Response

Subscribe to comments with RSS.

  1. I have nothing to add excepto to say:

    THIS->”I am not sure that it is any worse than it has ever been with biased opinion-ed comments in MSM”

    Ron Shevlin

    November 21, 2016 at 07:31


Comments are closed.

%d bloggers like this: