Mark Zuckerberg just lost $3 billion from his personal fortune

Mark Zuckerberg

News Feed FYI: Bringing People Closer Together | Facebook Newsroom

12, Facebook founder and CEO Mark Zuckerberg announced that Facebook is changing its news feed algorithm to reduce the amount of content you see from businesses, brands and media. 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.

The American Internet entrepreneur said they have recently obtained feedback from the community that public content is crowding out personal moments.

" By doing so, Zuckerberg says he hopes to make the time people "spend on Facebook more valuable".

With its news feed now geared toward fostering "meaningful interactions" between people, Facebook said on Thursday that businesses can expect to see their video views and referral traffic decrease.

It's easy to understand how we got here. But it's also possible that these new moves undermine those initiatives, and that Zuckerberg's aim to make users more happy could also make them more misinformed. But Facebook continues to insist that despite the fact it has numerous characteristics of a media company, it doesn't need to act like one.

The US election in 2016 saw a string of adverts making misleading or factually inaccurate statements about political candidates gain traction on the site.

If Facebook doesn't want a certain conservative or liberal publisher in the feed or decides a certain local news publisher shouldn't be there either, that publisher's social media reach will die, causing it significant economic harm.

Facebook will soon give more weight to posts from friends, family members, and those that spur conversation.

Eurozone manufacturing PMI hits record high in December
The report noted faster growth of output, total new work and export sales, as well as an increase in backlogs of work. The UK services PMI , produced by data firm Markit , has jumped to 54.2 for last month, from 53.8 in November.

Instead of a feed full of updates from media companies (or that clothing store you followed for a discount one time), the future news feed should be full of content you find engaging. But there are other big steps he could take to show us he's honest about fixing Facebook.

Reuters/Stephen Lam/File PhotoFacebook CEO Mark Zuckerberg is seen on stage during a town hall at Facebook's headquarters in Menlo Park, California September 27, 2015.

Tweaking the news feed to encourage people to talk about their personal lives might, therefore, be seen as a means of increasing Facebook's commercial value.

Many of these businesses will be affected by the new measure. The news feed ranking update, which is set to roll out globally in the coming weeks, is expected to support that goal. "On the other hand, passively reading articles or watching videos - even if they're entertaining or informative - may not be as good".

We feel a responsibility to make sure our services aren't just fun to use, but also good for people's well-being.

But Facebook's sweeping change on Thursday means none of that content will be able to break through. Some news helps start conversations on important issues.

"We believe these changes will be beneficial to Facebook in the medium and long term".

The Portal device is rumored to be released in the second half and will start off at $499 per unit, which is significantly higher than its rivals Echo, Google Home, and Apple HomePod, but could still be lowered in order to have a better chance in the market.

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