Tech & Tonic: Facebook fights the fakers and charity begins at home for millennials

Fake news – can you tell what it is yet? Photo by  rawpixel .

Fake news – can you tell what it is yet? Photo by rawpixel.

News item of the week: Facebook fights against misinformation

This week, Facebook ushered in global media to its Californian HQ to update them on its latest action against fake news. Previously it acted to give suspected fake news less prominence in people’s news feeds, now it says it will delete it altogether.

The move, Olivia Solon posits in the Guardian, is knee jerk reaction to false news being held responsible for causing a spate of mob violence in India, Sri Lanka and Myanmar.

While any serious thought to tackling fake news is a positive step forward, Facebook is yet to clarify the specifics of the policy that it will rollout in the coming months. A practice in paying lip service or heartfelt venture to fighting the dark side? You decide…

Comment piece of the week: Getting pensive about pensions

Another week, another article about the homogeneous youth of today. That’s right, we’re talking about MILLENNIALS!

According to an interesting article on Citywire’s NMA, people aged between 22-37 aren’t saving enough for retirement. Author and financial adviser Anita Wright, who regularly gives auto-enrolment presentations, says millennials are unwilling to join company pension schemes because they prefer to spend their dosh on ‘living life’, socialising, going on nice holidays, leasing sexy cars and generally having wonderful experiences (that they can’t really afford). Looking at the mire within our own Instagram feeds, it’s hard to disagree.

Wright goes on to say that advisers need to better understand millennial attitudes to money, and the issues they face, before engaging with the go-lucky generation. Perhaps her future presentations could also be delivered through Instagram Stories?

Number of the week: Oh my quad! MortgageGym raises £3.8m

Well done to MortgageGym for completing a funding round of £3.8m, including investment from LSL Property Services plc (LSL), the parent company of the UK’s second largest mortgage network.

The funding round for the FCA-regulated mortgage robo-adviser follows a seed funding round of £2.5m. Fully inspired, we’re now off to the gym, probs because we just read ‘gym’, and we’re simple like that. More here.

Hat tip of the week

A pub in Ipswich claims it’s the first in the UK to stop taking cash, turning to card and contactless payments instead. The owner is well chuffed, mostly because of lower insurance premiums.

Quote of the week

We are @Foco_Global on Twitter, what’s your excuse?