How does the Facebook Algorithm work in 2020?

What's the use of doing business when not active on social media? The following statement is a bitter truth but a fact though.
Right from a kid to grandma, everyone out there is scrolling through videos, images, sharing memes and latest updates posted on social media platforms. From the past year who have consistently spent half of their life on Facebook, Twitter, Instagram, and other social networking sites are well-aware of the conversions made on Facebook.