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Noah Berger / AP

Facebook announced that it will no longer use "Disputed Flags" — red flags next to fake news articles — to identify fake news for users. Instead it will use related articles to give people more context about a story.

Why it's happening: The tech giant is doing this in response to academic research it conducted that shows the flags don't work, and they often have the reverse effect of making people want to click even more. Related articles give people more context about what's fake or not, according to Facebook.

Why it matters: Facebook's Sheryl Sandberg says Facebook is a technology company that doesn't hire journalists. Without using editorial judgement to determine what's real and what's not, tackling fake news will forever be a technology experiment.

  • Facebook says putting Related Articles next to fake news leads to fewer shares than when the Disputed Flag is shown. "Putting a strong image, like a red flag, next to an article may actually entrench deeply held beliefs – the opposite effect to what we intended," Facebook writes in a blog post.
  • The company is starting a new initiative to better understand how people decide what's accurate based on the news sources they "Depend upon," or likely follow and engage with on Facebook. Facebook says the initiative won't directly impact the News Feed in the near term.

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Team USA's Simone Biles watching the women's uneven bars final at the Olympic Games in Tokyo, Japan, on Sunday. Photo: Jamie Squire/Getty Images

🚨: Simone Biles will compete in her final Olympic event

⚽: U.S. women's soccer team falls to Canada in semifinals, ending chances at gold

🏋️‍♀️: Laurel Hubbard becomes first openly trans woman to compete at Olympics

🤸: U.S. gymnast Jade Carey wins Olympic gold in floor exercise final

🪧: IOC "looking into" American Raven Saunders' Olympic podium protest gesture

📷In photos: Day 10 Olympics highlights

🏳️‍⚧️: Axios at the Olympics: Games grapple with trans athletesTrans athletes see the Tokyo Games as a watershed moment

Go deeper: Full Axios coverage

Updated 3 hours ago - Sports

Laurel Hubbard becomes first openly trans woman to compete at Olympics

Laurel Hubbard. Photo: Stanislav Krasilnikov\TASS via Getty Images

New Zealand weightlifter Laurel Hubbard made history on Monday as the first openly transgender female athlete to compete at the Olympics.

Why it matters: The presence of trans and nonbinary athletes at this year's Games has been celebrated by LGBTQ+ rights advocates, but stirred controversy among critics, who argue trans women have an unfair advantage even after taking hormones to lower their testosterone.

Index fund investors saved $357 billion over last 25 years

Illustration: Sarah Grillo/Axios

Investors who’ve opted to passively track the stock market haven’t just outperformed most active fund managers. They’ve also saved a ton of money in fees while doing it.

Why it matters: There are loads of active fund managers aiming to beat the returns of funds that track indexes like the S&P 500.