Zuckerberg is getting burned by his own Hubris? You’d think that someone who studied Greek would have known how dangerous hubris is.
It’s a lesson he — and Facebook’s shareholders — are learning in real time, while their client base falls off a cliff.
In the last six months, Facebook went from historic highs of $217.50 a share, down to a low of about $124 a share, and has been hovering around $160-170 for the last month or so.
But shareholders might want to keep a close eye on how many people are actually USING Facebook. Especially the coveted younger demographics.
More than 17 million young Americans have quit Facebook in the last two years amid a number of data privacy scandals hit the social network.
Former fans of the site, aged between 12 and 34, have abandoned it in the wake of damaging reports, including the Cambridge Analytica debacle.
US users are the most lucrative market for the social media network and it is alienating the highly coveted youth as teens and millennials shun the app.
Facebook has lost the youth and is becoming the domain of their parents and grandparents. The kids are moving to Instagram and other apps.
The data revealed 79 per cent of US people aged between 12 and 34 were on Facebook but this has plummeted to 67 per cent in 2018 and 62 per cent in 2019.
This reveals 17 million people in this age group have deactivated their accounts.
This has been marginally offset by an increase in people aged 55 and up. Facebook use for this older group increased from 49 per cent in 2017 and 2018 to 53 percent in 2019.
The trend is NOT their friend. The Facebook app is NOT the big kid on the block anymore. It now has fewer users than Instagram, and about the same as Snapchat.
And even that number is supposing the users they ARE counting aren’t bogus, like this report claimed: REPORT: 50% Of Facebook’s Accounts Are TOTAL BS
If half of those accounts are bogus, what is their reach, really?
Do you think it was the best application of their fiduciary responsibilities to their shareholders when they used that clout to play whack-a-mole with conservative customers and declare war on content-producers?
And that is before we find out the fallout of the lawsuits being raised in response to the Whistleblowers proving that Facebook was ‘deboosting’, for cheap partisan reasons, the same customers who had paid them for advertising, and then playing innocent. (Detailed here: WATCH: Investigative Video EXPOSES Facebook ‘Deboosting’ Conservative Facebook Pages)
Steven Crowder is already talking lawsuit, others may yet follow.
Our own ClashDaily page had the FB plug pulled on us (read his rowdy response here)… so we gave Facebook the finger and moved over to MeWe, where the customer is NOT mined for data that is sold to the highest bidder. Oh, and we’re not censored, for wrongthink either.
Oh look, a couple more reasons they’re bleeding customers.
Will Instagram — their sister site — learn from Facebook’s mistake, or will the totalitarian temptation bite them too?
Get woke, go broke. It’s a saying for a reason, FaceBook. But you’d rather learn the hard way.
Get Doug Giles’ new book:
Rules For Radical Christians is not a survival devotional designed to help the young Christian adult limp through life. Rather, it is a road-tested, dominion blueprint that will equip the young adult with leadership skills and sufficient motivation to rise to a place of influence in an overtly non-Christian culture. Rules For Radical Christians gives the reader the keys to become strategically equipped to move into an anti-theistic environment and effectively influence it for the glory of God.
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