Facebook CEO Mark Zuckerberg (seen in June) saw his company’s shares tumble on Friday after he announced that the site would tweak its news feed formula to focus more on personal connections and take the spotlight off brands and news articles. Photo: AP
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Opinion

Bloomberg

Mark Zuckerberg loses US$2.9 billion after announcing Facebook will prioritise friends over businesses

Facebook will now prioritise users’ friends and family, rather than news and businesses, to encourage conversation – and that has sent shares tumbling

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Facebook CEO Mark Zuckerberg (seen in June) saw his company’s shares tumble on Friday after he announced that the site would tweak its news feed formula to focus more on personal connections and take the spotlight off brands and news articles. Photo: AP
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