Barack Obama: Fake news threatens our democracy

(CNN) – Fake political news stories have become so pervasive on social media that President Obama made note of the issue in his press conference Thursday.

As it turns out, lying is a lucrative business. According to a Buzzfeed news analysis, fake news stories far outperformed their legitimate counterparts on Facebook by a long shot in the weeks leading up to Election Day.

Both Facebook and Google have announced they will no longer allow fake news sites to use their ad-selling services, a small effort to slow a rumormill that’s running faster than ever.