Facebook Inc (NASDAQ:FB) a New Force in News

Facebook Inc (NASDAQ:FB) a New Force in News

Facebook Inc (NASDAQ:FB) a New Force in News

Facebook remains overvalued and I would not buy the stock, but the company does continue to deliver in surprising areas. Now Facebook are taking over news.

Facebook Inc (NASDAQ:FB) is fast becoming a primary news source for almost half of American adults.

The Pew Research Center survey showed 62 percent of US adults get news on social media, and 18 percent do so often.

According to the survey, 66 percent of Facebook users get news on the site, as did 59 percent of Twitter users and seven of 10 users of Reddit.

Facebook reaches some two-thirds of US adults, the survey indicates that 44 percent of the overall population gets at least some news through the social network.

The survey comes with Facebook defending itself against allegations that it suppressed some conservative news content in its “trending” topics.

Facebook said was unable to substantiate any specific accusations of bias, but are updating guidelines to be clearer that content decisions may not be based on politics or ideology.

The Facebook news team will be given more oversight and controls, and Facebook will no longer rely on lists of external websites and news outlets to assess the importance of topics in stories.

Facebook founder Mark Zuckerberg met with a group of conservative political leaders and told them the network was “a platform for all ideas.”

Still, there remain allegations that Facebook is biased, this has highlighted concerns that social media is increasingly becoming a gateway to news for many readers.

According to the new Pew study, users of Facebook YouTube and Instagram are more likely to get their news by chance, when they are online doing other things.

However, those who use Reddit, Twitter and LinkedIn often seek out news online as often as they stumble upon it.

In coordination with the John S. and James L. Knight Foundation, Pew surveyed 4,654 American adults by mail and online from January 12 to February 8. The margin of error for the full group was estimated at 2.4 percentage points.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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