This is simply a terrible idea and demonstrates the point I made after the last election, that "fake news" is the new "hate speech" -- in other words, an ill-defined, amorphous term that will be the excuse for censorship. Every politician thinks that every criticism of themselves is "fake news". Note the absolute relish with which the millennial Endgadget author greets this awful idea:
Fake news and hate speech are sadly unavoidable on social media, but that might change soon... in Germany, anyway. Late last week, Thomas Oppermann — chairman of the German Social Democratic Party — proposed a stringent law meant to hold companies like Facebook responsible when fake news makes the rounds. As reported by Der Spiegel(and translated by Deusche Well), Oppermann's plan would require Facebook to actively combat fake news all day, everyday. Here's the fascinating bit: if a fake news item pops up and Facebook can't address it within 24 hours, it would be subject to a €500,000 (or $522,575) for each post left untouched.
Oh, it gets better. Facebook and other "market-dominating platforms" would be required to to have teams in Germany dedicated to fielding reports of fake news and hate-filled posts. Fortunately for Oppermann — and German web users, most likely — the push to penalize companies for letting false, misleading or malicious content run wild has received plenty of support from the other major party in German politics, too. The country's Christian Democratic Union hates all of that stuff just as much, prompting one senior party member to promise definitive action "at the beginning of next year." The CDU has also proposed legislation (with backing from Chancellor Angela Merkel, no less) that would make it illegal to post fake news entirely.