There has never been a self-immolation quite like Meta Platforms, the parent company of Facebook. Mark Zuckerberg's social-media company has lost more than half a trillion dollars in market value since its August peak — about half of that vaporized in a single day, the biggest drop ever — as it starts to weaken from the constant siege of competitors and dissenters without and within.
The fallout is so bad that Meta, once the sixth-largest company in the world by market capitalization, has fallen out of the top ten, replaced by two computer-chip makers, Warren Buffett's Berkshire Hathaway, and the Chinese e-commerce company Tencent.
Facebook's once unbeatable ad-tracking system — the engine that made it a more than $1 trillion company — has effectively been neutralized by the likes of Apple, which allows users to block the company's trackers. (Google is set to start phasing in similar protections to its users over the next two years.)
Facebook's user base has started to shrink after revelations by whistleblowers and leaks that showed how harmful social media could be to teen users, who are flocking to less toxic competitors like TikTok anyway. And Zuckerberg — clearly bored with the company he founded 18 years ago — has shifted his vision into an immersive version of the internet, complete with headsets and digital avatars, that he calls the metaverse, an ambition that sets up Facebook's competition not with another Silicon Valley company but with reality itself....
The article's final point is that in the middle of all this, Zuckerberg has committed the company to a "metaverse" future — even though Wall Street investors seem almost unanimously unconvinced.
the only solution is tax cuts for corporations. they're the job creators!
Kayden Rogers
>who are flocking to less toxic competitors like TikTok >less toxic Its literally Chinese spyware lowering attention spans and normalising whore culture and apathy though
Jordan Cook
Zuckerberg’s name is mud and nobody wants anything to do with him.
Asher Williams
Can someone explain what it means for Facebook to turn into Meta Corp? I thought Meta was their upcoming VR product, which will clearly be in beta for years or more., because its VR and hardly anyone has VR shit.
I want to go bankrupt but even if they did another burgzucker last name would bail them out
Ryan Allen
>learn that social media is harmful >go to other social media to cope That's like an alcoholic replacing whisky with vodka. These children are all dopamine addicts and no one is saying it out loud.
Justin Hall
He will sell off whatsaop and instagram and fb thevhighest bidders.
Xavier Allen
They’re just trying to rebrand, Facebooks name isn’t changing but they’re changing the name of the company that owns it from Facebook to meta. To encompass more and move away from the shitty old reputation
Benjamin Kelly
>The article's final point is that in the middle of all this, Zuckerberg has committed imagine my disappointment
Cooper Reyes
My sisters friend spends 8 hours a day on it.. I've heard its so bad that children are developing tics from constantly watching people "dancing"
Oliver Gomez
Everyone still says
meta (formerly Facebook)
Fucking hilarious
Carson Martinez
>facebook loses 500 billion So the government wants to tax windfall profits but is nowhere to be found when corporations lose lots of money.
Connor Rogers
This. I can't believe this idiot called Tik Tok less toxic than anything. It's social media on meth. It is far worse than facebook. I pray to God I live to see the day when social media is destroyed once an for all. The damage it's caused is incalculable.
Eli Foster
lol they banned trump. zuck must die with his co.
Ethan Ramirez
>I pray to God I live to see the day when social media is destroyed once an for all. The damage it's caused is incalculable. This.
Alexander Evans
There is never any truly good news. Something seemingly good, in this case Facebook dying, is replaced by something even more gay, more degenerate, more evil.
I'm tired, bros.
Carter Barnes
Much like Philip Morris to Altria or Blackwater to Xe services to Academi.
Weird that it would cause such a meltdown. Google rebranded their parent company to Alphabet or something like that some years ago. Facebook must have been doing other dumb shit to get dumped this hard
