There's a lot of definitions flying around of what we mean when we say fake news. And there's also a lot of pitfalls and I think some misguided recommendations that are out there about what Facebook and Twitter and the others should and shouldn't do. It's very difficult and I, you know, recommend sort of very thoughtful slow going for everyone.

The big opportunity - and where the most disruption is - is in local media.

A so-called news organization called the Denver Guardian - which, by the way, doesn't exist - wrote an article and pushed it on social media that said that the pope had endorsed Donald Trump. That's the perfect definition of fake news. It was intentionally designed to deceive.

Social media is the greatest boon to journalism since the printing press.

My definition of fake news is a content-like object that is a story, an article, a video, a tweet that has been fabricated, completely invented out of thin air, intentionally for the purpose of misleading.

I think it would be a mistake for social media companies to try to, on their own, determine or deign what is a fake news story and what isn't and shut it off, or what's a good news organization or a bad news organization. That's a very, very slippery slope.

There's a lot of definitions flying around of what we mean when we say fake news. And there's also a lot of pitfalls and I think some misguided recommendations that are out there about what Facebook and Twitter and the others should and shouldn't do. It's very difficult and I, you know, recommend sort of very thoughtful slow going for everyone.