Tag: NASDAQ:FB

Facebook Inc (NASDAQ:FB) EU: Will The Social Media Oblige To The Code of Conduct

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The major tech companies are under pressure from the European Commission to be more proactive in curbing hate speech and provocation to terrorism. Facebook Inc (NASDAQ:FB) EU is one of the tech firms alongside Twitter Inc (NYSE:TWTR), Alphabet Inc (NASDAQ:GOOGL) Google’s YouTube and Microsoft Corporation (NASDAQ:MSFT) that the European governments are looking up to. They have been asked to put their acts together in the code of conduct or face the possibility of laws.

The order comes in the midst of heightened racial tensions and national security concerns.  Germany has particularly been in the spotlight because of the ongoing refugee crisis, which has sparked a chauvinistic backlash. Apparently, the country’s Justice Minister Heiko Maas points out that Facebook should be held legally responsible for any speech published to its platform.

Facebook EU: The tech giants have not been submissive to the code

It is a requirement that all the major US technology companies sign a code of conduct including Facebook EU in an effort to fight online hate speech.  The firms are also required to agree to be part of a strengthening partnership with civil society organizations. However, a report commissioned by EU Justice Commissioner Vera Jourova indicates that the tech giants have not satisfactorily obligated to the code.

A majority of them have been struggling to comply with a voluntary code of conduct.  Jourová says, “If Facebook, YouTube, Twitter and Microsoft want to convince me and the ministers that the non-legislative approach can work, they will have to act quickly and make a strong effort in the coming months.”

The rapid spread of fake news online

There have been serious concerns over the online spread of racist content, which is primarily targeting refugees in Europe. Facebook has been one of the biggest victims.  According to Jourová, social media companies need to live up their mandate of sharing responsibility in regards to online radicalization, fake news or illegal hate speech.

Apparently, Mark Zuckerberg, Facebook’s CEO and COO Sheryl Sandberg have been alleged to break national anti-speech laws. As a result, prosecutors in Munich launched an inquiry into these allegations. Nonetheless, it remains to be seen how committed Facebook EU is to its obligation.

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Facebook Inc (NASDAQ:FB) Worries About The Declined Sharing Of Original Content

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Facebook Inc (NASDAQ:FB) has been experiencing a decline in the number of original content being shared by it’s close to 1.6 billion users, and this is causing major concerns. Original content sharing on Facebook plunged by 21% year-over-year since mid-2015. This has compelled the CEO Mark Zuckerberg, to address the issue at staff meetings, according to unnamed sources.

Facebook users might argue that their newsfeeds are always filled with diverse status, but most of these are links to third party website. Users are not commenting on a night out or tagging other with personal status. This signifies a gradual move from intimate posts to third party content sharing. According to reports from Bloomberg, the company is worried that the social media platform is turning into a link-sharing website.

New social media platforms in the likes of Snapchat and Facebook’s Instagram are providing a much more immediacy and people are sharing what they used to on Facebook, on these platforms. The main reason for the shift might be that some users are not comfortable sharing anecdote or that they checked into a restaurant on Facebook because the updates might be irrelevant to quite a few of their connections.

Facebook has been trying to tackle the decline in original content by introducing a number of features. One such feature is the ‘On This Day’ tool that has received much success since being launched. Facebook is also notifying users of special occasions such as friends’ birthdays, Mother’s day among others and these are also working in the right direction.

Facebook is also planning to tackle the decline by the recently launched Live Video tool. The idea behind addressing the decline is that live video streams will be used to broadcast personal experience. Its success will depend on whether users will embrace it or not. A recently released statement by Facebook, it claimed that the overall level of sharing has remained not only high but also at similar levels as in the previous years. The context, on the other hand, points out to a very different story.

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