👓 How Facebook Punked and then Gut Punched the News Biz | TPM

In the digital publishing world, there’s been a buzz about this article in Slate in which slate staffer Will Oremus detailed the impact on the publication of Facebook’s dramatic retreat from the news business. The numbers are stark but not surprising for people in the industry. Indeed, Oremus makes the point that most news organizations are not willing to release these numbers. (We’ll come back to that point in a moment.) In January 2017 Slate had 28.33 million referrals from Facebook to Slate. By last month that number had dropped to 3.63 million. In other words, a near total collapse.