(ConservativePeak.Com)- Facebook is stepping up to help the world during the Chinese coronavirus pandemic, coughing up a massive $100 million in charity. But it’s not going to help save jobs and American families.
Instead, Facebook is planning on investing that $100 million in the news and media industry.
The media. Seriously.
According to tech news website The Verge, Facebook has pledged the huge sum of money to help promote journalism while the coronavirus continues to spread across the world.
Don’t they realise journalists can continue working and spreading lies, from their computers at home?
$25 million of the investment will be spent on local news organisations via the Facebook Journalism Project, and it’s probably the most honorable part of the deal. This money will go towards propping up smaller, local news outlets who may have already been struggling. It will mean local news outlets can keep their communities up to date.
However, the remaining $75 million will be distributed to news organizations across the world to assist with “marketing spend.” Do they really need more people supporting their biased takes and attacks on regular people?
Facebook is responding to the fact the publishers are expected to be severely damaged by the economic impact of the coronavirus outbreak. Advertising revenue is plummeting, meaning major publishers are losing their primary sources of income. eMarketer, an advertising research company, has reduced its growth projections for global media advertisement spend by three percent. Facebook, therefore, is seriously helping a struggling industry.
Many may ask, however, whether the industry is worth the investment. Throughout this crisis, journalists have asked the question of how many deaths he thinks are acceptable and even attempted to portray the White House Coronavirus Taskforce as incapable. Not to mention, the New York Times claimed that the rollout of FDA-approved drugs usually used to treat malaria was a form of “human experiment.”
So is Facebook right when they announce in their press release that journalism is a “vital service” during the pandemic?
The first round of journalism grants was announced last week, with more than 50 local newsrooms each being given $5,000 to cover any “unexpected costs.”