Mark Zuckerberg Takes on Fake News, the Importance of the News Industry And the Rise of Filter Bubbles in New Manifesto

Facebook CEO Mark Zuckerberg emphasized the importance of a "strong news industry" in his 5,000-plus word manifesto published this afternoon.

Calling the news "critical to building an informed community," Zuckerberg said Facebook will do more "to make sure this vital social function is sustainable."

"...From growing local news, to developing formats best suited to mobile devices, to improving the range of business models news organizations rely on," Zuckerberg wrote.

Facebook recently started an outreach campaign to local news organizations after working primarily with national newsrooms to prototype its media products over the years. Silicon Valley giants like Facebook and Google have gobbled up much of the advertising dollars that traditional media once profited from and continue to grow their market share.