The social network has given up on fact-checking. That’s a good thing.

In a turn of events that many did not see coming, Facebook, owned by Meta CEO Mark Zuckerberg, recently announced that it would cease using fact-checkers.

Commenting on the surge, Gizmodo suggested that “apparently not everyone is ready to live in a post-truth world... Fittingly, Facebook competitors are also seeing a spike in interest. Bluesky saw a nearly 1,000% increase in searches during the same period that saw people looking to exit the Meta-verse of social apps.”

In the wake of Mark Zuckerberg’s announcement that Meta platforms including Facebook, Instagram, and Threads will ditch professional fact-checkers in favor of a Community Notes-style crowdsourcing approach to accountability,

EBay’s stock price rose nearly 10% on Wednesday—one of its largest single-day increases in years—boosting the company’s market cap by about $3 billion to $33 billion. But the e-commerce company couldn’t credit a stellar earnings report or new product release for the sudden investor appetite;

Both Meta and eBay could benefit from Meta's plan to bring eBay listings into Facebook Marketplace, says Morgan Stanley.