- Facebook says it will cut back the number of fake news stories that circulate in its news feed and add a hoax warning on others to inform users the news is fake.
- This move is a blow to the ‘fake news’ industry which has run rampant in the last few years.
- The model is simple – write a fake, but engaging news story, run display ads against the traffic & count the $$$ coming in.
- While it’s difficult to estimate earnings, it’s reported that a successful viral story can easily earn thousands of dollars a day!
- Hopefully this will lead to fewer ‘car giveaway’ and ‘celebrity death’ hoaxes!!!