After went public with the news feed change on Thursday, the website's share value dropped by almost four per cent before U.S. markets opened on Friday.
More importantly, this goes back to Facebook's long-running problem with fake news. Ultimately, His Zuckness thinks it will be the right thing to do, instructing his product teams to shift "from focusing on helping you find relevant content to helping you have more meaningful social interactions".
He said changes already began a year ago, but will take "months" to be fully implemented. The company's plan is to refocus users' feeds around posts from friends and family members, not posts from brands, businesses, and publishers, even if it comes at the expense of people spending less time on Facebook.
And lucky for all of us, there's a way to continue to see the news that's most important to you via social media.
According to Pavel Naiya, Senior Analyst, Devices and Analytics at Counterpoint Research, the move would affect the small businesses which don't have budget to put their content out to the user as many of them have been dependent on Facebook to grow their traffic and drive sales. "We feel a responsibility to make sure our services aren't just fun to use, but also good for people's well-being", Zuckerberg said. Perhaps that'll hand back to them some of the monetisation opportunities Facebook has taken away lately. But it's now official: "Facebook is pay-for-play for businesses and public figures", marketer Tiffany Wilson of Chronicle Republic told My Business' sister publication REB. There, Facebook had effectively become a channel for news, so when news ceased to appear in users' feeds, some assumed the worst. Tag us in your pics and we may show what you're up to. "The company needs to change the priorities of its algorithms and retool its business model".
Our clients all have a paid social media strategy and budget as we believe this is imperative for results. "The only way for people on Facebook see a business or publisher's post organically is if one of your friends has commented or shared it".
You'll see a list of Facebook pages and profiles that you already like.
Facebook for Business is created to be used as a promotional avenue but not in the same way as traditional advertising - it's supposed to be social after all.
And if you are thinking the answer is to switch to a personal profile, the reality is you will be missing out of the enormous targeting and reach capabilities that Facebook has to offer as well as any ability to measure your results. Now they have to understand custom audiences, targeting and pixels. Those are the posts Facebook will promote. Had this change been in place in 2016, it might even have exacerbated the Russian interference by increasing the exposure of Facebook group users to misinformation.
If you want to know more......
"Before, you could rely on organic traffic if you had enough content". Maybe, maybe not. But Facebook's goal is to make people happier using the site - not to expose them to opposing views.
Remember the simpler days of Facebook? The biggest one has to do with the only business model that has worked so far in social media monetisation - the ad-based one.