Is Facebook About To Lose $31 Billion?
New changes to Facebook's algorithm could see the social media platform lose a large chunk of change.
Late last week, Facebook announced that they were set to change their algorithm so that users would see less content from brands, and more from friends and family in a move to make the social media site more meaningful.
CEO and founder, Mark Zuckerberg, said that he was keen to make the changes after listening to feedback from the community that public content ie: posts from businesses and brands is stopping users seeing the more personal content from friends and family.
"One of our big focus areas for 2018 is making sure the time we all spend on Facebook is time well spent. We built Facebook to help people stay connected and bring us closer together with the people that matter to us," Zuckerberg posted on Facebook last week. "We're making a major change to how we build Facebook. I'm changing the goal I give our product teams from focusing on helping you find relevant content to helping you have more meaningful social interactions, as we roll this out, you will 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," Zuckerberg added.
While the multi-billionaire tech founder might be doing this to make his site more personal, shares on the stock market fell by 4 % immediately following the announcement of the changes, with sceptics saying that this could result in Facebook facing one of the worst financial position for months and Zuckerberg losing up to $3.3 billion of his own personal net worth.