Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
05/23/2025
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The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
September 6, 2023: On Tuesday, Meta has announced that the Facebook News feature will be deprecated from the UK, France, and Germany bookmarks section in early December.
The company added that it plans on spending more time and money on short-form video, as best exemplified by its TikTok-like Reels product. Meta said that news represents less than 3% of what people see in their Facebook feeds.
Meta said it would honor the Facebook News obligations it had made to publishers in those countries, but it won’t enter into new deals and has no plans to offer new products for news publishers.
Meta debuted Facebook News in 2019, saying the product “was built to bring people closer to the stories that affect their lives.”
The decision to deprecate Facebook News is part of a broader move away from the news business. The company recently shut down access to news on Facebook and Instagram in Canada after its government passed the Online News Act, which requires tech firms to pay content fees to media outlets nationwide.
Meta disagreed with the Canadian law, saying that “the legislation misrepresents the value news outlets receive when choosing to use our platforms” and that it is “based on the incorrect premise that Meta benefits unfairly from news content shared on our platforms.”
Some news experts criticized Meta’s decision to block users from viewing or posting news links in Canada, saying that it could lead to a rise of misinformation and negatively impact local news organizations.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
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