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Although a growing number of Americans have been turning to Facebook to get their daily news fix, a lot of the so-called news stories posted and propagated by the site's users aren't true.
In fact, many people are saying that President-elect Donald Trump's surprising win is in part due to the fake news stories posted on Facebook.
Although a lot of the material published on Facebook is either biased or incorrect, it must be remembered that the site isn't The New York Times. Accuracy and fact-checking are neither Facebook's strengths nor requirements.
Instead, there is a larger, more worrisome challenge facing Facebook and its investors: The company is having difficulty accurately reporting its metrics.
On Wednesday, the company admitted to ignoring several faults in how it has reported its metrics to advertisers and partners.
And this wasn't the first time.
Facebook reportedly discovered three months ago that its report quantifying video viewership hours on its site was also incorrect.
Now Facebook has said that it overstated how long users spent reading its "Instant Articles" and the kind of traction that business pages received on Facebook.