Is Facebook a media company? Or it`s just a tech company? What Mark does Zuckerberg tell about the company?
During the press conference in Rome, the creator of Facebook, Mark Zuckerberg denied the fact that the Facebook is a media company. He asked journalists and society to treat Facebook as a mere tech company. Nevertheless, it`s not an accurate definition of his company. The main statement of Zuckerberg of why Facebook is not a media company lies with the idea that media company produces content. As a tech company, this social network giant provides tools for creating content. Nevertheless, not creating a content is not the reason for calling Facebook just a tech company.
There is another example of a tech-media company. Huffington Post also started as a mere tool for users to create content. After few years of working on blogging, they decided to hire a journalist and editing staff. Therefore, Huffington Post launched a creation of content and started making money through advertising.
In the modern world, the distributing of information is no less important than creating the information. Nevertheless, acknowledging of Facebook as a media company also requires the creation of news-feed algorithm. This algorithm decides whether something should be published or not. Therefore, implementing of such algorithm creates a huge difference for a website with auditory more than one billion people.
There are a couple of reasons why Mark Zuckerberg does not desire to acknowledge that the biggest social network is an actual media giant. The first reason is quite simple, with defining the Facebook as media, it means that Mark Zuckerberg holds whole responsibility for every post on Facebook. The second is that it would need to create some censorship mechanism to the Facebook. The third and the most obvious is that tech companies are the most valued for investors. The third point also explains why BuzzFeed does not desire to acknowledge that it`s a media company.