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In: Operations Management

1. What are the economics of social networking? What does it take to win? Facebook Fake...

1. What are the economics of social networking? What does it take to win? Facebook Fake News in the Post -Truth World topic

300 words

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Expert Solution

EXPLANATION:

The media, celebrities and political figures are all on Facebook. Not only individuals, but even companies have their presence via their company page on Facebook too. On Facebook, people take a sneak peek into other people's lives by engaging other people by liking, commenting or tagging with the content / posts they share. Humans prefer to socialize with friends and relatives on Facebook.

The social media sites collect users' data-their preferences, dislikes, location, and news. The consumers are the product of them. For firms which seek to target certain niches in the population, this data is of value. The more social media a person communicates, the more social media wants to collect and sell data. Social networking sites therefore need to sustain the participation of users on their website. Social networking sites benefit from the selling of user information and advertising. The winner or loser is determined by the number of active users on a social networking site.Fake news is an growing social media concern. Zuckerberg will take the following steps to suppress fake news:

  • Prohibit the advertising on the website for nonethical third parties.
  • Tweak Facebook's code to keep spammers away.
  • Using machine learning and human interaction to distinguish true news from false news.

keosha answered 3 months ago
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