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Approximately 23% of social media users have reported that they have spread fake news, [53] and fake news spreads faster than true news on social media, primarily because people share it amongst others. In today's day and age, almost 62% of adults get their news from social media platforms and that number is increasing. [53]
Because social media is tailored to your interests and your selected friends, it is an easy outlet for political echo chambers. [55] Another Pew Research poll in 2019 showed that 28% of US adults "often" find their news through social media, and 55% of US adults get their news from social media either "often" or "sometimes". [56]
Research has shown that fake news hurts social media and online based outlets far worse than traditional print and TV outlets. After a survey was conducted, it was found that 58% of people had less trust in social media news stories as opposed to 24% of people in mainstream media after learning about fake news. [58]
Social media caused many controversies during the 2020 election. During the 2020 election, social media was the primary source of the spread of false information. Social media users also faced polarization due to social media algorithms, creating an echo chamber for social media users and only exposing themselves to their own beliefs.
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The term "fake news" has been weaponized with the goal of undermining public trust in news media. [155] President Donald Trump seized on the term "fake news" [161] [162] as a way of denigrating any story or outlet critical of him, even appearing to claim to have invented the term [163] and handing out so-called "Fake News Awards" in 2017. [164]
Based on the company's stock hitting certain price benchmarks, Trump was awarded an additional 36 million shares in the company that owns his social media platform Truth Social. That brings his ...