Mark Zuckerberg's Will To Change Facebook News Feed Costs Him $3.3 Billion

| January 14 , 2018 , 14:26 IST

The social networking platform Facebook has worked wonders in connecting people from across the globe over the past years. However, lately, the website has become a little less interactive due to the presence of irrelevant commercials on the medium, an aspect which Mark Zuckerberg took into consideration recently.

With the prospect of making the Facebook's news feed and the time spent by users on the platform more meaningful, the network's founder shared his plan to revamp the working of News Feed. The change will allow the user to reach more posts from friends and family rather than the commercials by publishers and brands.

Zuckerberg's will to leave a legacy behind through the anticipated changes cost him $3.3 billion, dropping his personal net worth by 4.4 percent. The commercial publishers were disappointed with the announcement which led to the drop in website’s share price. The price dropped from $187.77 to $179.37 within a day.

In a lengthy post, Zuckerberg mentioned how "the posts from businesses, brands and media is crowding out the personal moments". The development was hampering the basic idea which led to the building of Facebook which prompted the network to rethink its strategy and make relevant changes for "more meaningful social interactions".

The re-evaluated changes will allow the network to generate more "organic" posts which will allow the users to connect with the people they want to. Notably, the announcement came after the platform was accused of promoting fake content during and after the 2016 US Presidential elections. 

However, Mark was not much fazed by the loss as he seems to have anticipated it beforehand and is ready to accept the "short-term" losses whole-heartedly. "By making these changes, I expect the time people spend on Facebook and some measures of engagement will go down," Zuckerberg has written.