Jan 12, 2018

Zuckerberg's publisher purge hits Facebook stock price

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Data: Money.net; Chart: Andrew Witherspoon / Axios

Facebook shares plunged 5% this morning after Mark Zuckerberg announced changes to his platform's newsfeed that will prioritize engagement over time spent.

Why this matters: Wall Street analysts have grown accustomed to measuring success of tech platforms by how much time users spend on them. Facebook's user base is becoming more and more saturated and now that it expects people to spend less time, it has made investors nervous.

But, but, but: If anyone can manage this challenge, it's Facebook, which defined the concept of a "monthly active user" as a metric for success early on — which has since been adopted by Wall Street and other platforms. 

Go deeper: The full story on Facebook choosing friends over publishers.

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Trump's big, empty beef with Twitter

Illustration: Aïda Amer/Axios

President Trump finally acted on his now year-old threat to take action against social media platforms for alleged bias against conservatives. But so far, according to experts in both government and the industry, the threat looks mostly empty.

Driving the news: Trump escalated his war on Twitter Friday morning, tweeting repeatedly that the company needs to be regulated after it overnight added a warning label to a tweet of his calling for the military to start shooting looters, which violated Twitter’s rules against glorifying violence.

In photos: Protests over George Floyd's death grip Minneapolis

The Third Police Precinct burns in Minneapolis on Thursday night. Photo: Stephen Maturen/Getty Images

Demonstrators demanding justice burned a Minneapolis police station and took control of the streets around it last night, heaving wood onto the flames, kicking down poles with surveillance cameras and torching surrounding stores.

What's happening: The crowd was protesting the death of George Floyd, an unarmed black man whose life was snuffed out Tuesday by a white Minneapolis police officer who kneeled on his neck for about eight minutes.

Minneapolis mayor to Trump: “Weakness is pointing your finger” during a crisis

Minneapolis Mayor Jacob Frey fired back at President Trump on Friday, after the president accused the mayor of weak leadership amid violence sparked by the killing of an unarmed black man by a white police officer.

Driving the news: Trump made his accusations in a pair of tweets early Friday, saying he would bring the national guard into Minneapolis if Frey couldn't “bring the City under control.”