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I am extremely torn in a couple ways.

On the entire fact-checking ordeal: Why do we even need this? I haven't used Facebook in the last year, but even during the time of the election, I would see outrageously incorrect "news" posts and just keep scrolling. They almost reminded me of those pervasive ads at the bottom of websites after an article. "This ancient paper folding technique will get rid of crows feet!" kind of ads. You just didn't click on it because you know it is just a scam. Yet at the same time, people were (not sure about recently) using Facebook as a news source. I imagine if they saw "[Politician] revealed as lizard man" had millions of likes/shares it would be hard to accept that millions of people are wrong. Personally, that is not how I view social media but after these last few years, it seems like not everyone shared my approach.

On Facebook: Fake news will be the death of Facebook. The harder it cracks down on it, the more we will realize how ingrained it has become on the internet. It really is a lose-lose situation. If they remove these outlandish posts, people will begin to cry censorship and leave the platform. These same people will just get their "news" from another site. If they don't crack down on it and just ride the "Fake News" wave, they will be seen as accomplices in the entire fiasco and once again, people will leave the platform. I would like to imagine the second scenario would equate in more people leaving but at this point, I really have no idea.