Jack Dorsey Chairman after Dick Costolo replaced Williams as the CEO. On June 10, 2015, Costolo announced that he was resigning as CEO of Twitter, effective July 1, 2015. Dorsey would assume the post of Interim CEO upon Costolo's departure. He was named permanent CEO of Twitter on October 5, 2015. On the day after the controversy about Twitter's new algorithms for tweets, Dorsey responded to the trend, saying it was only a hoax. In May 2016, Dorsey announced that Twitter would not count photos and links in the 140-character limit to free up more space for text. This move was an
Fake news website in a testing phase. A sample warning read: "This website is not a reliable news source. Reason: Classification Pending". "TechCrunch" analyzed the new feature during the testing phase and surmised it may have a tendency towards false positives. Fake news proliferation on Facebook had a negative financial impact for the company. Brian Wieser of Pivotal Research predicted that revenues could decrease by two percentage points due to the concern over fake news and loss of advertising dollars. Shortly after Mark Zuckerberg's second statement on fake news proliferation on his website, Facebook decided to engage in assisting the government of China