Giving Compass' Take:

• Eric Newton from the Walter Cronkite School of Journalism gives advice to Mark Zuckerberg and Priscilla Chan on investing in journalism and literacy worldwide.

• It may seem counterintuitive for the founder of Facebook to lead the way when it comes to funding media initiatives, since many blame the platform for damaging the news industry irreparably, but leveraging the platform's outsized influence and resources could just be the spark that's needed right now.

• You don't have to wait for Facebook or the Chan Zuckerberg Initiative to make a move. There are many ways for foundations to support journalism, starting right here.

Everyone has advice today for Mark Zuckerberg and Priscilla Chan. Why listen to mine? Because the world has entered a new age of human communication and is struggling, drowning. People hold the greatest personal media devices ever invented in their hands but really don’t know how to use them. We have entered a bizarre universe of alternative facts in which the greatest of scoundrels hide in plain sight. The education and ethics gaps are massive. Without facts, nothing else matters. The world will never solve its most pressing problems.

In a single day, Zuckerberg and Chan can turn everything around.

Here’s how:

Hit the reset button hard. Announce that every penny of their personal philanthropy will be redirected to help society cope with digital technology. Focus the tens of billions they’ve pledged to give away on the challenges created by the technology they’ve promulgated.

Grow news and media literacy. Create a $5 billion New Literacy Foundation. Dedicate it to changing the way people on earth find, understand, create and act upon factual news and information. Fund a massive training program for teachers and librarians. Grow the best existing digital, media and news literacy programs. “Atomize” the core competencies of the new communications literacies and sprinkle their essence on every topic in every classroom. Create centers all over the world, including a big one at America’s museum of news, the Newseum. Goals: every child is news and media literate by the age of 12, and everyone can unlock the lifelong learning potential of digital media.

Read the full article about how Mark Zuckerberg and Priscilla Chan can turn things around at medium.com.