Our working definition of a digital platform (with a hat tip to Harold Feld of Public Knowledge) is an online service that operates as a two-sided or multi-sided market with at least one side that is “open” to the mass market
Platforms
Facebook is starting to share more about what it demotes in News Feed
The way that Facebook controls its News Feed is often controversial and largely opaque to the outside world. Now the company is attempting to shine more light on the content it surpresses but doesn't remove entirely. Facebook published its “Content Distribution Guidelines” detailing the roughly three-dozen types of posts it demotes for various reasons in the News Feed, like clickbait and posts by repeat policy offenders.
Facebook paid billions extra to the FTC to spare Zuckerberg in data suit, shareholders allege
Facebook conditioned its $5 billion payment to the Federal Trade Commission to resolve the Cambridge Analytica data leak probe on the agency dropping plans to sue Facebook CEO Mark Zuckerberg individually, shareholders allege in a lawsuit. Two groups of shareholders claimed that members of Facebook’s board allowed the company to overpay on its fine in order to protect Zuckerberg, the company’s founder and largest shareholder.
Facebook Launched Project Amplify to Defend its Image
Mark Zuckerberg, Facebook’s chief executive, signed off in August 2021 on a new initiative code-named Project Amplify. The effort, which was hatched at an internal meeting months before in January, had a specific purpose: to use Facebook’s News Feed, the site’s most important digital real estate, to show people positive stories about the social network. The idea was that pushing pro-Facebook news items — some of them written by the company — would improve its image in the eyes of its users.

Twitter to Pay $809.5 Million to Settle Securities Suit
Twitter will pay more than $800 million to settle a consolidated class-action securities lawsuit alleging the social-media company deliberately misled investors about user engagement in 2015.
Facebook's social balance is in the red
Thanks to a multipart Wall Street Journal series this week, we have learned about a number of the company's challenges based on internal reports and documents written by Facebook employees sounding alarms. Facebook has argued that the Journal's information is ou
POLITICO holds inaugural tech summit, “At a Digital Crossroads: Washington and Silicon Valley”
Government officials, tech lobbyists, civil rights advocates and researchers participated in POLITICO’s inaugural tech summit: “At a Digital Crossroads: Washington and Silicon Valley.” Key takeaways include:
Former US national security officials claim antitrust could hurt US in China tech race
Twelve former top US national security officials are urging Congress to hit pause on a package of antitrust bills in order to consider how breaking up tech companies could harm the US
Facebook's XCheck program exempts high-profile users from its behavioral standards
Mark Zuckerberg has publicly said Facebook allows its more than three billion users to speak on equal footing and that its standards of behavior apply to everyone, no matter their status or fame. In private, the company has built a system that has exempted high-profile users from some or all of its rules. The program, known as “cross check” or “XCheck,” was initially intended as a quality-control measure for actions taken against high-profile accounts, including celebrities, politicians and journalists.
Texas governor signs bill prohibiting social media giants from blocking users based on viewpoint
Gov. Greg Abbott (R-TX) signed a bill that would prohibit large tech companies from blocking or restricting people or their posts based on their viewpoint, setting the stage for a legal battle with the tech industry.