Fake News a Threat to Social Media Stocks
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Former AOL executive Jon Brod said this week that even though social media stocks have yet to peak, sites like Twitter and Facebook need to address the problem of fake news quickly as it represents an “existential threat”.
Former VP of corporate strategy at Twitter Elad Gil meanwhile said that users could defect to the “next wave of social products” in the next few years.
The comments came following the recent efforts of tech companies to restore user trust by purging fake accounts and introducing new tools to control privacy.
Source: CNBC