The repercussions of Facebook News

Facebook recently announced that it would be launching Facebook News. It was received with huge excitement from the major publishing houses. The newspaper industry has been facing decline since the explosion of online content. Through Facebook News, the publishing houses will have access to 2 Billion online users, along with a steady revenue amounting to millions of dollars a year. While the presence of curated articles will improve the quality of news on Facebook, it continues the threat of becoming the single point of information for majority of the World’s populace. Facebook and Mark Zuckerberg have been facing hearings across the globe, defending their position on dissemination and consumption of content. One of the foundations of democratic competition in the business world is to have multiple platforms to provide a single product or platform. Any class on economics includes a discussion on the disadvantages of Monopoly. A multitude of platforms providing quality content is the need of the hour. Just like Facebook news, other social media platforms must follow suit. The fact that each social media platform caters to a different segment, would benefit the consumer get access to quality content.

Do you think LinkedIn must jump in?