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Facebook Under Pressure From Shareholders To Fix Fake News


The following is an excerpt from Richard Nieva | June 1, 2017 | cnet.com |

Fake news is still a real problem for Facebook, and now shareholders are speaking up.

At the social networking giant's annual shareholder meeting on Thursday, the topic of misinformation spreading on the site came up multiple times.

There was a proposal, which was denied, from two institutional investors asking Facebook to publish a report on "public policy issues associated with managing fake news." Then there was an admonishment from the Rev. Jesse Jackson saying "fake news and lies is about to destroy us."

In Zuckerberg's prepared remarks, he brought up the topic too. "Making sure people have access to good information is a really important part of what we care about," Zuckerberg said. Creating an informed community, he said, is "a theme I know a lot of us are thinking about."

Facebook has been under fire for fake news since before the US election, and some of President Donald Trump's detractors blamed the phenomenon for tipping the scales in his favor. Zuckerberg at first shrugged off the accusation, saying the idea that fake news swayed the election was "pretty crazy."

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