Facebook Inc (NASDAQ:FB) is not just on the verge of being a news site, it has become one. On Fox Business, Stuart Varney discussed the new direction that the owner of the largest social media platform is taking, with MediaBuzz host, Howard Kurtz.
“[…] President Obama chose Facebook Inc (NASDAQ:FB) to announce his executive order on immigration. Facebook has the screenshot of the facebook page and the announcement. Facebook has become a news site, that is where you go to break news, the president did, and you find breaking news there […],” said Varney
It is one thing to announce an arrival in a new sphere such as news through just a new App, but having White House use the platform to break news is taking it to a whole new level. The first question that pops to one’s mind is how well Mark Zuckerberg, Facebook Inc (NASDAQ:FB)’s CEO, is connected with the political circles.
As Kurtz later revealed during the discussion, it’s not just his connections at play here, but also his past actions in terms of donations to the right funds. It is refreshing to know that the government takes care of those whose priorities are aligned with those of White House’s. However, at the same time there is another issue that is raised by such an action. Should the government really be endorsing a company’s products?
“[…] There is another aspect to it, which I am sure White House was happy to do a favour for Mark Zuckerberg, the Facebook Inc (NASDAQ:FB) founder, who has poured a lot of money into an immigration reform group at a time when the president was trying to talk up executive action on immigration reform, and I am sure that crossed the mind of some political advisors […],” informed Kurtz.
Facebook Inc (NASDAQ:FB) has been in the news sphere for only a while now, and it is not like the platform was being used by a wide variety of people to break news before this incident. This is the first major breakthrough for the site and it came from none other than the highest ranking public official in the country. But the question is that does this count as product endorsement, and if so is it fair for other social media platforms and news websites?
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.
