>> Facebook vowing to hit fake news and hate speech where it hurts, profits. The social media giant on Wednesday saying it's getting more selective on who can cash in on ads. To make money on Facebook, content has to be authentic, not offensive, and follow the social media giant's guidelines.
The move follows mounting criticism that Facebook's platform was manipulated to influence the 2016 presidential election, but also from concern by advertisers about where their ads show up, says Reuters correspondent Dave Ingram in San Francisco.>> Facebook is under enormous pressure to clean up hate speech, particularly in Germany, where Facebook made this big announcement on Wednesday.
Germany passed a law to impose fines on companies like Facebook if they fail to clean up hate speech on their platforms.>> Cleaning up its platform is also good business for Facebook, which is looking for big ad dollars.>> We'll know if this is working if advertisers start putting a lot more money toward Facebook.
What Facebook really wants to achieve here, and YouTube as well, is to take market share away from television.>> Facebook and Google's parent Alphabet make up for around two-fifths of Internet advertising, which some expect will grow to over $200 billion this year, and overtake television. The new standards come a week after Facebook came clean and admitted that it learned that a sketchy operation, likely based in Russia, had placed thousands of US ads and hundreds of fake profiles with polarizing views on topics, such as immigration, race, and gay rights, on the site during a two-year period through May 2017.
in addition to controlling that money more tightly, Facebook on Wednesday saying it will also step up its hate speech monitoring, nearly doubling the size of its content review team by adding 3,000 more reviewers.