The New York Times published a rather scathing look inside the ongoing crisis at Facebook driven by privacy issues and the spread of disinformation. Although I haven’t read the full piece yet (it is quite long), it’s clear it takes particular aim at CEO Mark Zuckerberg and COO Sheryl Sandberg for their negligence in allowing the company to get into this mess in the first place. If you find the NYT story of interesting, be sure to also watch the two-part documentary from PBS’s Frontline “The Facebook Dilemma.”
Instagram Stories have not only grown at an incredible pace (see chart below), it has also shown success in other ways, like the million-dollar business of designing people’s Stories. Some surprising news came from Twitter CEO Jack Dorsey regarding a possible edit button for tweets. What might such an edit button look like? How many times could you edit a tweet? And for how long after it’s sent? That’s what the folks at Twitter need to figure out as they decide whether or not to roll out such a feature.
Finally, don’t forget to check out the Learn section for tips on building thought leadership and how to maximize your videos shared on social media.
Social Media News:
- Delay, Deny and Deflect: How Facebook’s Leaders Fought Through Crisis (The New York Times). This is a long read that I’m planning to take on this weekend, but the key point is that both CEO Mark Zuckerberg and COO Sheryl Sandberg bear direct responsibility for the company’s woes: “Bent on growth, the pair ignored warning signs and then sought to conceal them from public view. At critical moments over the last three years, they were distracted by personal projects, and passed off security and policy decisions to subordinates, according to current and former executives.” On Sandberg: “While Mr. Zuckerberg has conducted a public apology tour in the last year, Ms. Sandberg has overseen an aggressive lobbying campaign to combat Facebook’s critics, shift public anger toward rival companies and ward off damaging regulation.” So, Facebook is not exactly showing expertise in crisis communication. If you do read the full piece, be sure to also read Facebook’s response.
- Facebook and “The Data Dilemma” (PBS Frontline). Speaking of Facebook, this is a nice video overview of what Facebook knows about you, and how it knows it – from the use of “shadow profiles,” to the main ways Facebook tracks you on the web, even when you’re not on Facebook. This is a companion video to the much longer two-part investigation of Facebook’s privacy controversy that you should definitely watch. It’s also on YouTube.
- Designing People’s Instagram Stories Is Now a Million-Dollar Business (Fast Company). With 11 million users, at a rate of 100,000 app downloads per day, Unfold, the Instagram story template app, is set to bring in $2.6 million in revenue for 2018.
- Dorsey Says Twitter Is Thinking About an Edit Button to Fix Typos in Tweets (The Next Web). Twitter CEO Jack Dorsey said the company has to carefully consider use cases for the edit button before making it a reality – and it could potentially be tooled to help fix typos. In my opinion, this would be the biggest change in the company’s history; even bigger than increasing the character count to 280.
- LinkedIn Expects Media Biz to Bring in $2 Billion in 2018 (Axios). LinkedIn’s increased ad revenue can be attributed to higher user engagement on the site, driven by recent changes to pages and the LinkedIn news feed.
- How to Use Social Media to Build Thought Leadership (Social Media Today). From sharing quality content and knowing your audience to providing original research and building a professional profile, this is a nice listicle of how to position yourself or your brand as a thought leader.
- How to Maximize the Exposure of Your Videos: A Strategic Plan (Social Media Examiner). This blog post has a list of five ways to post, promote, and distribute videos more effectively.
Chart of the Week:
We Analyzed 15,000 Instagram Stories from 200 of the World’s Top Brands (Buffer). 400 million people around the world use Instagram Stories on a daily basis (with that number rapidly growing). Click the image for more stats and strategic insight into Instagram Stories.
What are the top social media news stories and learnings that I missed this week?