Through a blog post on Wednesday, CEO Mark Zuckerberg explained how Facebook's new vision for the future is to become a privacy-focused social networking platform. In the post, Facebook's CEO discussed how he believes Facebook's future will be centered around private, ephemeral, encrypted communication rather than the company's current, open platform news feed. According to Zuckerberg, these changes will occur over the next few years and should also open the way for new online commerce and payments services.
In Zuckerberg's Facebook post, he details Facebook's new privacy-focused platform will be built around the following principles:
This announcement comes at a time when Facebook is under increased scrutiny over the spread of "fake news," which has resulted in public pressure on the social network company to better moderate its customer content. The new privacy focused social network envisioned above may be designed to address some of these concerns as content will become private from even Facebook itself, reducing its vulnerability to privacy issues.
A couple of the more concrete changes and policies outlined by Zuckerberg are listed below:
Facebook's Instagram, Messenger and WhatsApp are all used by more than 1 billion people each. This shift to a more privacy focused social network will make it harder for Facebook to continue generating the level of revenue from targeted advertising that has allowed it to become one of the largest companies in the world. As it undergoes the changes identified above, there is no doubt that the company will have to develop new revenue generating tools, services and strategies.
It is important to note that Mark Zuckerberg did admit that elements of the plan could still change as the company speaks to experts over the next year.
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