Will tech firms save us from fake news?

[Commentary] Fake news has become a cause célèbre and fighting it has attracted some powerful players. Facebook just launched its “disputed” tag for possible fake news, and Google has promised to also go on the attack. But can current tech firms really stop or even slow down fake news? Probably not. Frankly, these firms’ business models enable the economic engine that powers fake news, and the demand for a social media site’s version of the truth is probably quite low.

The key to combating fake news probably lies in creating an economic engine that is more powerful than the one that drives fake news. Since costs are already minimal, the engine would have to give consumers more value. Sounds like we need a disruptive innovation, which is what new tech businesses are all about.

[Jamison is the director and Gunter Professor of the Public Utility Research Center at the University of Florida. He is also on the FCC Transition Team for President Trump.]