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Photo: Justin Sullivan / Getty Images

Facebook is "making a major change" on what users see on their news feeds, CEO Mark Zuckerberg announced Thursday night, by focusing more heavily on helping users "have more meaningful social interactions."

"As we roll this out, you'll see less public content like posts from businesses, brands, and media. And the public content you see more will be held to the same standard -- it should encourage meaningful interactions between people....By focusing on bringing people closer together -- whether it's with family and friends, or around important moments in the world -- we can help make sure that Facebook is time well spent."
— Facebook CEO Mark Zuckerberg

Why it matters: Facebook is such an important tool in today's society that these changes could impact the information Americans get, possibly limiting the spread of fake news while potentially crushing publishers that rely on Facebook traffic.

  • Zuckerberg said he expects these changes to negatively impact measures of engagement, but also expects "the time you do spend on Facebook will be more valuable."
  • Per the New York Times, Zuckerberg said: "Just because a tool can be used for good and bad, that doesn’t make the tool bad — it just means you need to understand what the negative is so that you can mitigate it."
  • He also said his approach to Facebook has changed since the birth of his two daughters; he wants them to "feel like what their father built was good for the world" when they grow up, the NYT reports.

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: Biden: It's "not the time to relax" COVID mitigation efforts — Tracking coronavirus variants through sewage.
  2. Vaccine: FDA advisory panel endorses J&J COVID vaccine for emergency use — About 20% of U.S. adults have received first vaccine dose, White House says — New data reignites the debate over coronavirus vaccine strategy.
  3. Economy: What's really going on with the labor market.
  4. Local: All adult Minnesotans will likely be eligible for COVID-19 vaccine by summer — Another wealthy Florida community receives special access to COVID-19 vaccine.
  5. Sports: Poll weighs impact of athlete vaccination.
  6. World: Brazil's capital enters 24-hour lockdown as coronavirus cases surge.

Buffett eyes slow U.S. progress, but says "never bet against America"

Warren Buffett in New York City in 2017. Photo: Daniel Zuchnik/WireImage

Warren Buffett called progress in America "slow, uneven and often discouraging," but retained his long-term optimism in the country, in his closely watched annual shareholder letter released Saturday morning.

Why it matters: It breaks months of uncharacteristic silence from the 90-year-old billionaire Berkshire Hathaway CEO — as the fragile economy coped with the pandemic and the U.S. saw a contentious presidential election.

Restaurant software meets the pandemic moment

Illustration: Annelise Capossela/Axios

Food delivery companies have predictably done well during the pandemic. But restaurant software providers are also having a moment as eateries race to handle the avalanche of online orders resulting from severe in-person dining restrictions.

Driving the news: Olo filed last week for an IPO and Toast is rumored to be preparing to do the same very soon.

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