Platforms such as Facebook's News Feed have revolutionized how people consume media and how news organizations deliver content. But they have also been criticized for spreading so-called fake news and misinformation.
Soon-Shiong, a former surgeon, told "Squawk Alley" that fake news is the "cancer of our time and social media is a form of metastasis of news. We need to change that."
He said people cannot differentiate from "fake news," "real news" or "opinion news" on Facebook.
Soon-Shiong took control of the LA Times for $500 million in June. He joins the ranks of billionaires Marc Benioff and Jeff Bezos, who have also purchased media companies.
Benioff just bought Time magazine for $190 million in cash from Meredith Corp. Bezos owns The Washington Post.
CORRECTION: This story has been revised to clarify that Soon-Shiong was referring to fake news on social media as the "cancer of our time."
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typodaemon on September 26th, 2018 at 21:31 UTC »
I like the way Aaron Sorkin put it: "I am all for everyone having a voice; I just don't think everyone has earned the microphone. And that's what the Internet has done."
ManoLorca on September 26th, 2018 at 21:22 UTC »
Three biggest factors that social media influences us :
Our reward system gets rigged, making us basically hooked on sm
Our social comparison goes through the roof
Availability stresses us out
And it came so fast, we didn't know how to properly learn to use social media.
Popixin on September 26th, 2018 at 20:42 UTC »
It's definitely causing a lot of tribalism and depression