Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

FACEBOOK

(FB)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Facebook vs. democracy: Let's get serious about disinformation

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/23/2019 | 01:21am EST

ON MONDAY, Facebook announced new measures to help combat the spread of disinformation in the looming UK General Election. Plans include working with fact checkers, tracking the origin of political ads, and doing more to take down content that breaks Facebook's rules.

While positive, these lukewarm efforts do little to reassure that Facebook is taking this issue seriously enough.

They come, after all, in the wake of a European Court of Justice decision this month to allow EU states to remove defamatory content from the site. Facebook denounced the ruling, claiming it would undermine free speech. But given the company's track record, how seriously should we take its support for democratic values? Some 18 months ago, Mark Zuckerberg promised that Facebook would do more to combat politically motivated disinformation campaigns. This pledge was spurred after millions of users' had their data harvested by Cambridge Analytica - with the intent to influence their voting choices. Yet according to a recent report from Oxford University, no "decisive action" has taken place since, while governments around the world continue carrying out disinformation campaigns for their political goals. And it's getting worse. The report found that the number of countries that were victims of disinformation campaigns had doubled since 2018, with the majority of these still via Facebook.

While government attempts to influence the public are certainly not new, social media can play a catastrophic role in supercharging this game - as any neuroscientist will tell you.

Instantly sharing news is not driven by rational calculations or critical thinking. We get excited by certain articles, most of which reaffirm our existing notions of the world. The more "likes" we receive, the more dopamine hits we get - ultimately feeding our addiction for external validation.

Modern neuro-imaging tools - which allow for unprecedented visual access into the brain - show that the prefrontal cortex (host to the logical part of the brain) comes second when reading the news. A tweet - much like a rumour - is more likely to be shared if it connects to the emotional side of our brain, the social part.

Facts become subconsciously irrelevant in the spread of news. We've seen this play out time and time again, from outdated photos circulating the internet at moments of crisis to viral celebrity death hoaxes.

While there are undoubtedly social, and even political, benefits to easily accessible information, issues arise when we consider the sheer volume of this content. We have not yet adjusted to this age of "information overload", which exposes our crucial inability to filter fiction from reality.

Neurochemically, we are hardwired to engage with social media. But with tech firms failing to take the necessary steps, it falls to governments to hold them to account.

The recent EU court case showed that countries can force social media platforms to take down posts which break the law. And there are other examples of how government action on misinformation can work. The Czech Republic, Germany and France have begun taking major steps, by actively monitoring social media sites for disinformation campaigns and requiring online platforms to filter fake news.

By banning false stories, governments can safeguard elections and prevent public health scandals (like the debunked but damaging anti-vaccination movement) and conspiracies that threaten to tear society apart.

We cannot rewire our brains to resist the pull of misinformation. Combatting its spread is our only hope. This means that if tech companies are unwilling to be more open and engage with the public sector, governments will have to force them.

It is in the interest of these companies to act - and act more effectively than Facebook's efforts this week. If they remain unwilling, the voices calling for the break-up of the tech giants will only get louder.

£ Professor Nayef Al-Rodhan is head of the Geneva Centre for Security Policy's Geopolitics and Global Futures Programme.

Information overload exposes our crucial inability to filter fiction from reality

(c) 2019 City A.M., source Newspaper

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FACEBOOK
11/16FACEBOOK : Indonesia needs to urgently establish data protection law - minister
RE
11/16U.K. Labour Party Platform Shifts Left -- WSJ
DJ
11/15How social media sites handle political ads
RE
11/15Twitter tightens bans on political ads and causes ahead of 2020 U.S. election
RE
11/15Apple could raise annual ad income to $11 billion by 2025 - JPMorgan
RE
11/15BT Shares Knocked by Labour's Nationalization Plans
DJ
11/15U.S. trade groups raise alarm over Canadian digital services tax
RE
11/15Italy to press ahead with web tax despite U.S. warning - deputy minister
RE
11/15Labour's McDonnell says broadband plan is the limit of nationalisation plans
RE
11/15Yahoo Japan Merger Plan Raises Hopes for Super App -- WSJ
DJ
More news
Financials (USD)
Sales 2019 70 463 M
EBIT 2019 24 555 M
Net income 2019 18 276 M
Finance 2019 52 949 M
Yield 2019 -
P/E ratio 2019 30,7x
P/E ratio 2020 21,6x
EV / Sales2019 7,14x
EV / Sales2020 5,66x
Capitalization 556 B
Chart FACEBOOK
Duration : Period :
Facebook Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 49
Average target price 235,29  $
Last Close Price 195,10  $
Spread / Highest target 38,4%
Spread / Average Target 20,6%
Spread / Lowest Target -38,5%
EPS Revisions
Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
FACEBOOK48.83%556 376
TWITTER1.77%22 665
MATCH GROUP, INC.63.85%19 620
LINE CORPORATION36.03%11 086
SINA CORPORATION-38.09%2 310
NEW WORK SE18.32%1 745