Silicon Valley Watcher - Former FT journalist Tom Foremski reporting from the intersection of technology and media

Facebook Fake News Problem: It's A Media Company

Posted by Tom Foremski - November 7, 2017

Facebook (and Google) is finding it harder and harder to avoid being seen as a media company. I’ve called Facebook, Google, Yahoo and many others — high-tech enabled media companies for more than a decade. I’m glad others are seeing that: publishing pages of content with advertising around it is a media company. 

This video interview with Scott Galloway, marketing professor at NYU, underlies this issue of is Facebook a media company? If it were classed as a media company it would create a little bit of a level playing field with traditional media because it would have to hire a lot of humans and its costs would rise dramatically. If Facebook loses its platform status you can bet it will make sure Google does as well.

Scott Galloway, a marketing professor at NYU and author of the new book "The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google," discusses Facebook.

He says the company has embraced many aspects of a media company, but seems allergic to many of the associated responsibilities. He worries that the youthful management at Facebook doesn't have the historical context for the importance media plays in our society, citing Russia's manipulation of it during the 2016 presidential election. He doesn't buy the excuse that Facebook can't possibly screen its advertisers, and says they don't want to do it because it would hurt their profitability.

Scott Galloway says Facebook could screen its advertisers if it wanted - Business Insider

Story link | Subscribe free | Categories: A Top Story, Every Company is a Media Company, Media Valley, MediaWatch




ForemskiInnovator.jpg

The Holmes Report names Tom Foremski one of the top 25 Innovators of 2013.




-->