First, underlying most of this argument is an argument about what happens when you subject the telling of true stories to certain conditions of capitalism. There is often a tension in this process, as capitalism may make “news” (and therefore full participation in democracy) available to more people, but to popularize that news, businesses do things that taint the elite’s idealized notion of what true story telling in a democracy should be

Finally, one reason there is such a panic about “fake news” is because the western ideology of neoliberalism has failed. It has led to increased authoritarianism, decreased qualify of life in developed countries (but not parts of Africa and other developing nations), and it has led to serial destabilizing wars along with the refugee crises that further destabilize Europe. It has failed in the same way that communism failed before it, but the elites backing it haven’t figured this out yet.