Facebook Plans to Enter News Business

My friend Andy Kessler recently played journalist and dropped by for a visit with Facebook founder Mark Zuckerberg, with the result in the weekend Wall Street Journal. The most interesting revelation comes about mid-way through when Mark tells Andy about Facebook’s plans to enter the news business:

“Actually, I don’t have a TV but I do read newspapers. But how I read them is important. I don’t pick up a physical newspaper — I’ll get sent a link. The experience is very different, given to me by different people. What my friends sent to me or what other people think and send to me.”

… “In the next [Facebook] iterations, you’re going to see real stories being produced. ‘These people went to this party and they did this the next day and then here’s the discussion that was taking place off of this article in The Wall Street Journal. And these two people went to this party and they broke up the next day.’ Whatever, you can start weaving together real events into stories. As these start to approach being stories, we turn into a massive publisher. Twenty to 30 snippets of information or stories a day, that’s like 300 million stories a day. It gets to a point where we are publishing more in a day than most other publications have in the history of their whole existence.”

[via WSJ]

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Comments

  1. Cookie Monster says:

    A journalist/reporter will argue that there is a difference between news and information, and what Mark is talking about is information but it isn’t news…

  2. I was just about to say that if Mark is talking about publishing reports from friends about two people who went to a party and later broke up, I wouldn’t classify that as “news” exactly — although it would no doubt be interesting to some.

  3. I’m not really sure this qualifies as a either “news” or a “business”. Johnny breaking up with Suzy after last night’s party sounds more like “Gossip 2.0″. Then again [sadly], I wouldn’t underestimate the ‘monetizability’ of gossip.

  4. Paul, I see Andy Kessler will be at eTech. Will you? If so, hope to be able to say hi….
    regards,
    Graeme