And it’s why the company struggles to articulate whether it’s a platform or a media company or something else entirely. Facebook, by virtue of the fact that it made $16.6 billion in advertising revenue last quarter, is a media company. But Facebook wasn’t designed to be a media company, especially not one in the middle of an information war. As a platform, Facebook has no real responsibility for the veracity of its content; as a media company, it most certainly does. The media becomes trapped in a vicious cycle of newsworthiness, diverting attention and outrage to false claims and viral hoaxes.

Source: New York Times May 26, 2019 18:22 UTC