The real surprise here is how anyone could think this is a surprise. Remember how MySpace collapsed when the news broke users were leaving for other platforms?
New technologies are always at their peak and go away. That’s a perfectly normal thing, and Facebook was already able to prolong their stay beyond most web services’ lifetime. Maybe, in time, investors and traders will adapt to this nature of the field, and become very careful about those 12-15 years old or more. Sure, there are a few exceptions, as always, but you simply are not able to pick them out before the damage is done. Or in other words: Many currently peaking tech companies are probably already way overvalued.
You either back the right ones in their infancy or lose. Every web tech social company is almost as much of a gamble as trading crypto. People need to realize that. For example, take TikTok. They are all the rage right now. But in the current world, all it takes for them to completely plummet into oblivion is as little as a somewhat high-up employee saying something really stupid and it gets recorded and shared. All value lost within hours.
Heck, even a botched software change handled poorly could do that. This is what happens when you try to make Black Mirror a reality. It’s strange seeing a lot of people happy about Facebook’s decline. The pieces of the puzzle are falling into place. FB gets slapped by the markets. For a stock to drop 25% or so in a day is insane. Just to be clear. Facebook didn’t “lose” $230 billion. If anyone has any knowledge of finance (or more specifically, market cap), one would realize that it’s the investors of FB as a whole who lost $230 billion in “market value”. $230B is the market cap of India’s most valuable company.
With inflation not being controlled, overvalued tech stocks are getting a correction. A handful of tech companies are holding the US stock exchange up at the moment. Everything else has fallen.
People like saying they “lost” that much money, but that’s not quite accurate.
Meta still made a profit of 10B in Q4. What possible future would a social platform solely targeted for ads and selling your private info have? The Facebook platform has been getting more and more atrocious for the last five years +, with “changes” forced on users without any kind of market research simply because they’re a company driven by greed above customer requirements.
Added to that the fact that it’s impossible to have any kind of discussion on the platform without getting a warning or ban these days with effectively no discussion, explanation, or appeal process and it’s hardly surprising people are leaving. FB is the most toxic Social Media which has caused more damage than good. It is being punished by their own users because of the truth behind their business model.
When you create an algorithm that promotes controversial content (angry emotes give posts higher value than other emotes) and you continuously play with people’s emotions (especially young adults or even kids) you are destined for failure. I hope Meta uses this as a lesson learned and finds a better path going forward.
It’s always better for users, not just the stock value. Facebook is one of the most harmful things that happened to the internet. Facebook (along with Twitter and various other social media apps) is a crime against humanity. Now, hopefully, this creates a chain of events that leads to their ultimate demise.
When Metaverse was announced, I saw it as a potential for them to mine more data from their consumers to sell. Facebook instead of focusing on being a personal space for friends tried to be an entire web with so many confusing and irritating spaces for its users who just want to keep up with their friends.
The fact that Meta still owns WhatsApp and Instagram is something that a lot of people forget. One way or another, Mark Elliot Zuckerberg still has a grip on most of us, and I honestly wouldn’t be surprised if he buys TikTok (which is just as bad as Facebook). Meta’s business model is the antithesis of what the Metaverse is supposed to accomplish. There’s simply no appetite for them to infiltrate, set roots and begin their monopolizing ways all over again.
It goes to show that people still have power, and when exercising properly change can happen positively. This was an experiment on Facebook a.k.a. matter, but it’s overdoing it.
How can these people be happy pretending to live in an artificial world? I would like to believe that people are realizing that the users of Meta software are not the customers, but the product. The user gives Meta their attention for free and Meta turns around and sells it to advertisers.
Many people left because of the insane amount of false information. People will post anything no matter how ridiculous it is if it supports their ideology. It makes some people so mad and they decided the expense of mental health just wasn’t worth it.
Does anyone else think that a single company losing the equivalent of a large country’s GDP and surviving is pretty disturbing? It was a suicidal blunder- A good indicator of a business in trouble is a name change.
No one ever went broke by underestimating the taste of the American public.
This is very interesting. I doubt it’s the end of Meta. It’s just that saturation had to hit at some point. Now the interesting thing comes, either you keep focusing on ad-related experiences or you innovate and create something entirely new that will slowly but surely create a hit. There is no question that if they stick with the ad-related experience they will still be around, but it’s going to be interesting to see if they could keep up with Google in the ad-related systems. And personally, the meta-verse technology is kind of a can’t make it I think or it’s probably way too early I just don’t see myself spending over $500,000 to own a virtual house or clothing I find it pretty stupid.
But hey if they can get a hit with the teen community it will catch on; No one I know loves Facebook anymore, and most of them hate it.
We have been glued to our phones for a decade now and have been bombarded with stuff to see by algorithms, I feel people are starting to see how toxic that is. You only have 10 true friends max, the rest don’t matter at all
As much as I hate to say it, Meta – or at least Meta’s ultimate goal – IS the future. The world is most definitely moving toward a virtual reality-dependent future. With robots and AIs taking over the majority of the jobs, Universal Basic Income schemes are bound to become the norm. With the absolute impossibility for a massive portion of the people to get jobs, the world simply must move to a virtual reality first economy. Now, the question is whether Meta ought to be the one to bring forth that future. They already have quite the head start.
We as users have almost all our social media in the hands of Meta, Instagram, Facebook, WhatsApp. We as users should abandon these and go for more open-source and secure options. This is for the sake of OUR privacy.
People are so delusional if they think the Meta verse is possible with our current level of technology. It’s going to be a VR chat.
Metaverse will happen eventually but who will own it is a question to be answered. Probably Blockchain-like independent organizations have a better chance, where people feed and Metaverse grows. But I don’t see any big corporate doing it and becoming successful.
Will Facebook/Meta collapse and be forced to sell off all their sub-companies like Oculus?
Does Meta have what it takes to turn this around?
“If you don’t take care of business, the business will take care of you.” – Gene Simmons