Based on navel-gazing prophecies, news companies started to believe they were indispensable to the Facebook ecosystem as their production was in fact crucial to the social newsfeed. They were also mesmerized by the staggering amount of time users spent on Facebook: currently 50 minutes per day, compared to a few minutes spent poring over news brands sites.
News Publishers’ Facebook Problem
Frederic Filloux

This is/was hopelessly myopic, especially in light of the current controversy surrounding so-called “fake news.” It would seem that a substantial majority of people on both the left and right sides of the political spectrum are just as happy manufacturing wholly concocted fabrications and sharing them on social media…as long as it reinforces their pre-existing beliefs and could care less about the source…

Which is truly saddening to me….someone who appreciates the importance of journalism and the goal, even if aspirational, of fighting for objectivity as a pathway to real understanding…if not truth.

Do you think it was the promises of a financial savior to their faltering business models or maybe a genuine failure to grasp the underlying mechanics of the FB business model that caused so many intelligent management teams in media to make this mistake?

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