Facebook loses users for the first time EVER: Shares plummet 20%, wiping $200BN off value of parent-firm Meta after it revealed 500,000 fewer daily log-ins and declining profits
Facebook loses users for the first time EVER: Shares plummet 20%, wiping $200BN off value of parent-firm Meta after it revealed 500,000 fewer daily log-ins and declining profits
Couldn’t happen to a nicer company.
Its long past time to break them up into a thousand tiny pieces.
(Here is just one of the things which cannot be discussed and debated on MegaTech platforms.)
https://wattsupwiththat.com/2022/02/02/the-pause-lengthens-no-global-warming-for-7-years-3-months/
I’m never in favour of “breaking them up” via the gubmint intervention route, but very much in favour of alt-media info and Schumpeter’s creative destruction via the free market.
Part of the problem with “breaking them up” is that Facebook doesn’t have a de jure or de facto monopoly on anything at all, so splitting it into smaller companies won’t achieve anything. The problem is that Big Tech is an ideological monoculture. going after them for restraint of trade is hard because often their targets aren’t in the same market at all, and simply choosing not to do business with someone is a basic 1st Amendment right.
Something I like to point out is that everything Big Tech does to deplatform everyday people was used decades ago to deplatform people like St0rm /fr0nt and other actual neo-Nazi groups. Once that precedent was established, it was virtually certain the definition of neo-Nazi would expand unrecognizably.
I don’t think there’s an effective solution to this because politics is downstream from culture. Perhaps there needs to be some way for government to eliminate barriers to entry for, say, credit unions issuing their own credit cards so that companies like Gab can’t be cut off.
Just removing the section 230 of the communications decency act protection would kill it.
The only thing keeping it alive is the pretense that its a platform, not a publisher.
Oh, I think they can afford to take the hit.
Why anyone is still on Fakebook is beyond me.
Oh, dear, will Zuckerdork have to sell off his Bentley in order to make ends meat? The horror, the horror!
Your privacy is hurting Facebook, you racist, misogynist holders of unacceptable opinions.
https://finance.yahoo.com/news/why-facebook-parent-metas-stock-is-getting-crushed-141137947.html
Me and everyone else who posts anything remotely conservative gets shadow banned. Once we are identified everything we post ends up in the dumpster. There must be 100 million like me. I only use it to message family that are so woke I don’t want to talk to them.
Yesterday Facebook banned the U.S. truckers’ convoy to Washington. Today FB gets its just deserts.
Class action suit would look good right about now.
See story above. “Lying to the people is a bad business model”.
And let me add … so is fucking with a U.S. election that results in a puppet Bidinh Administration … that fucks with every single American’s financial well-being with empty shelves and soaring inflation … is a bad business model too. Yes, we can all blame Facebook for: mask mandates, vaccine mandates, supply chain interruption, runaway inflation … and the rapidly approaching recession cum depression. If things go as far negative as I expect … there will be no more Meta within a year as the pitchforks take their retribution.
Kenji, the danger level is increasing. When too much has been taken, people start to take it back by any means possible.
Perhaps Meta/Facebook should get back to their core business of connecting lonely old High School friends with one another?
https://www.youtube.com/watch?v=IJOwQJsFi9I
Marge, I’m so lonely
Schadenfreude to the tenth power.
Turn it up to 11 … 🙂
Yeah, baby!