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This is commonly called an 'algorithmic timeline'.

Some of the potential advantages (not always realized) for users:

- Based on your like/share/visit/interact history, certain people's content will be prioritized, because the algorithm thinks you like it

- You see these 'what you missed' posts, which is content from a friend that attained more likes/shares than usual, and theoretically represents 'gems' your friends produce. This allows popular content to bubble to the top, producing a feel of accomplished virality for the producer, and encouraging more engagement

Some of the advantages for the site operator:

- It encourages users to interact with content they actually like, to feed the algorithm's dataset and build a better profile of what everyone likes

- It destroys the expectation that all available content will be surfaced chronologically, obfuscating the true quantity of actual content on the user's timeline, thereby allowing a higher density of ads and other sponsored content to be displayed to the user



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