Did they never stop to think that their aggressive campaign of politically censoring customers would eventually smash their own bottom line?
What could go wrong with alienating half the public in a tech market where yesterday’s accomplishments aren’t worth a damn and the cutthroat competition forces you to dominate or die?
Facebook — now Meta — is waking up to a hard truth. They’re no longer the juggernaut they once thought they were. How can we tell? The public is voting with their feet — and share prices are following suit.
Their entire ad revenue business model falls apart if they stop having eyes on their product. Not only did they have fewer users, they had fewer ‘ACTIVE users’.
Facebook owner Meta Platforms Inc’s (FB.O) shares plunged more than 20% late on Wednesday after the social media company posted a weaker-than-expected forecast, blaming Apple’s privacy changes and increased competition for users from rivals like TikTok.
Facebook’s global daily active users declined from the previous quarter for the first time, to 1.929 billion from 1.930 billion.
Meta said it faced hits from Apple Inc’s (AAPL.O) privacy changes to its operating system, which have made it harder for brands to target and measure their ads on Facebook and Instagram. It also cited macroeconomic issues like supply-chain disruptions. —Reuters
If users ever kick the habit of scrolling through Facebook, they will inevitably move on to … whetever the new thing is. They will literally drop Facebook like a bad habit.
Their 4th Quarter sales took a hit of something like $10 Billion dollars. Yes, that does say billion with a ‘b’.
Facebook’s admission is the most concrete data point so far on the impact to the advertising industry of Apple’s App Tracking Transparency feature, which reduces targeting capabilities by limiting advertisers from accessing an iPhone user identifier.
Meta shares sank 23% in extended trading on Wednesday after the company warned about numerous challenges and came up short on user numbers. Facebook said first quarter revenue will be $27 billion to $29 billion, while analysts were expecting that number to exceed $30 billion. —MSN
The haircut Zuckerberg personally took was bigger than most corporations.
Mark Zuckerberg could see $US24 billion ($33.6 billion) erased from his personal fortune on Thursday, among the biggest one-day drops in wealth ever, after Meta Platforms’s fourth-quarter earnings missed estimates.
Meta, which owns Facebook, Instagram and WhatsApp, reported no growth in monthly Facebook users in the fourth quarter relative to the prior period, raising questions about the company’s future growth. — TheAge
Yeah, yeah, we know it’s just a loss on paper. But if it doesn’t come back that’s a real-world diminishment of both personal wealth and his ability to meddle in things like, oh I dunno, Federal elections…
- DARK MONEY: ‘Non-partisan’ Zuckerberg Used Private Money To Override Election Protocols
- COINCIDENCE? 76% Of Biden’s Vote Gains In Georgia Came From 3 Districts That Received 15M From Zuckerberg’s ‘Safe Elections’ Project
- Georgia Launches Investigation Into Possible Illegal 2020 Election Ballot Harvesting Scheme
But over at Facebook, er, ‘Meta’, the hits keep coming.
By hits, we do of course mean body blows as they continue to take a beating.
Another whistleblower has stepped up to ruin Zuckerberg’s day — this time in Australia.
For people living outside of the United States, Meta will deliberately provide less help, reporting of online abuse, and safety on its Facebook platform to save on costs, Facebook whistleblower Frances Haugen told Australia’s Select Committee on Social Media and Online Safety on Thursday morning.
Haugen testified that Facebook takes down the “bare minimum” when it comes to harmful content, especially when content comes in languages that are not spoken prominently in developed countries as there is minimal criticism from these underrepresented users.
“It can consistently underinvest in safety, and particularly, it really under invests in safety outside the United States because, disproportionately, their safety budget is spent on paving the United States,” Haugen said. “I’m sure on a per capita basis there is less help, less support, and less safety for Australians because Facebook knows it operates in the dark. Where they don’t have to, they don’t apologise about anything.” — ZDnet
Facebook took so much joy in crushing conservatives, throttling reach, blocking link-sharing, extinguishing our pages, and chasing away advertisers by putting us on the naughty list.
How do you suppose these same conservatives feel watching investors start to panic with the realization that Facebook’s woke inquisition chased their own damned revenue stream away?
Here’s a visual to help explain it.
This is the conservatives:
And these are Facebook’s investors.
You might even call this a literal answer to prayer.
Psalms of War: Prayers That Literally Kick Ass is a collection, from the book of Psalms, regarding how David rolled in prayer. I bet you haven’t heard these read, prayed, or sung in church against our formidable enemies — and therein lies the Church’s problem. We’re not using the spiritual weapons God gave us to waylay the powers of darkness. It might be time to dust them off and offer ‘em up if you’re truly concerned about the state of Christ’s Church and of our nation.
Also included in this book, Psalms of War, are reproductions of the author’s original art from his Biblical Badass Series of oil paintings.
This is a great gift for the prayer warriors. Real. Raw. Relevant.