Jack Dorsey to $1.59 million. In March 2018, Dorsey announced that an improved version of the verification system is coming to Twitter. The purpose of redesigning verification is to let people verify more facts about themselves, emphasizing proof of identity. The overhaul was not in place before the U.S midterm election of 2018 to help in verifying the identities of the candidates. In September 2018, Dorsey testified before the Senate Intelligence Committee alongside Facebook COO Sheryl Sandberg about meddling in the 2016 presidential election. Following this testimony, Twitter shares fell 6%. Dorsey, along with co-founder Jim McKelvey, developed a small business platform
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