Firstly I would like to define what is meant by "fake news". The term is poorly defined, and often misused. For example, some people will refer to news that they disagree with, or that goes against their beliefs, as "fake news".
Secondly, I would argue that it is not Facebooks role to be the arbiters of truth. Trying to determine the veracity of any statement online in real time is an impossible task. For example, if I said that "democrats want to take our guns" many would argue this is not true. However, there are legislators in Alaska that have called for this to be done.
Now to address the question specifically. As a user, it's important to validate sources, and double check information. Looking at a headline, out of context, can often impact our internal biases.
Facebook have implemented an outsourced Fact Checking to third party organizations. I would argue that this is a superficial effort that gives them good speaking points, but doesn't give any real value. The lag between content being posted and content receiving a fact checking rating can be days, and by the time the fact checking debunks the content, the damage is done.
Twitter have implemented an interesting solution called Community notes. It does a good job of crowdsourcing fact checking. However, the big challenge they face is the delay between content being shared, and fact checking being performed.
Finally, I would argue that it is not the responsibility of Facebook to perform fact checking. The user who posts the content should be the person we are looking at. If someone goes on TV and makes statements, the news organization rarely fact checks. For example, watching Fox news commentators, and guests, often make statements that are partially, or completely false, and there is no expectation for Fox News to fact check. Why is there an onus on Facebook to do the same when users are posting their opinions?
