Mark Zuckerberg just lost $3 billion from his personal fortune

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Facebook's chief executive officer (CEO) Mark Zuckerberg has announced that the company will be rolling out a number of changes to the content that people will be seeing in their social media feeds.

Facebook's move to highlight posts from friends and family over those from brands and publications follows months of turmoil for the social network and will result in lower advertising revenue - at least in the short term, analysts said.

Adam Mosseri, whose title is head of News Feed, said in a blog post, "We will predict which posts you might want to interact with your friends about, and show these posts higher in the feed". In the company's early years, the news feed was a scrolling update about the personal activities of friends and family members. It's Facebook's attempt to erase practically all news from the feed to give users a sense of community, not outrage and clickbait. Zuckerberg's vision for Facebook has always been a platform for giving people a voice and a place to make meaningful connections, though he spent much of previous year on the defensive. "But I also expect the time you do spend on Facebook will be more valuable", said Zuckerberg.

Based on this, we're making a major change to how we build Facebook.

In a series of public comments, Mark Zuckerberg acknowledged what many people already knew: Facebook has become an unpleasant place that can make users feel lonely and frustrated.

With its news feed now geared toward fostering "meaningful interactions" between people, Facebook said on Thursday that businesses can expect to see their video views and referral traffic decrease.

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If he is honest about reducing the fake and low-calorie news stories clogging up users' Facebook feed, Zuckerberg could turn to the press for help.

A study published in August by NetBase found that Facebook is still the preferred brand of Internet users. Which is really saying something considering that almost every leading news publication and political website in the United States has seen their online traffic steadily decrease since the US Presidential election of 2016. You can also get notifications from Facebook when we post something, and you can find instruction on how to do that here. BuzzFeed News, which built its distribution largely through Facebook, already reacted to the algorithm change Thursday with a Facebook ad prompting users to download the BuzzFeed app before news disappears from the feed. "And the public content you see more will be held to the same standard-it should encourage meaningful interactions between people".

The idea is to help users to connect with people they care about, not make them feel depressed and isolated.

At its best, Facebook has always been about personal connections.

As we roll this out, you'll see less public content like posts from businesses, brands, and media. Live videos with a healthy conversation in the comments will be given more weight as well.

Though the shift back to personal interaction may not mean fewer paid marketing spots in users' feeds, any drop in engagement and attention may still translate to fewer ad dollars.

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