Posted on 02/03/2022 9:22:35 AM PST by EBH
Facebook's user numbers declined for the first time in its history last quarter.
Facebook's parent company Meta reported daily active user numbers of 1.929 billion over the last three months of 2021. In Q3 of 2021, it reported an average of 1.93 billion active users. This means it lost roughly 1 million users over that period.
Facebook stock plunged 22% in premarket trading following its Q4 earnings.
CEO Mark Zuckerberg said in the company's earnings call that the company's social-media business is facing stiff competition.
(Excerpt) Read more at businessinsider.com ...
Couple that with poor customer service, poor social skills at the corperate level, and people not being able to get bonified 'help' with the algorithm gets things wrong...
Lots of reasons, like a million of them, to leave the platform.
TECH
Facebook stock plummets 23%, on pace for its biggest one-day drop ever
Shares of Facebook parent Meta plunged Thursday after the company forecasted weaker-than-expected revenue growth in the next quarter.
The company blamed privacy changes to Apple’s iOS and macroeconomic challenges weighing on advertiser budgets.
Other social media stocks were down Thursday following Facebook’s plunge.
Yeah and the stupid punks blamed it on everyone except themselves
Facebook is literally evil.
More like the first time the liberal media reported these losses.
I wonder how many stock index mutual funds Facebook is part of that will keep it from cratering completely.
I have gone from feeling sorry for Facebook users to open sarcasm of them. It’s interesting to note how few folks openly disagree with me.
I wonder if it is not worse. I have a FB account due to some friends overseas. It is the only way stay in touch. But I dumped groups and do not check FB more than once a day.
“CEO Mark Zuckerberg said in the company’s earnings call that the company’s social-media business is facing stiff competition.”
Competition is required to have free markets. For consumers, a market with many competitors provides:
— Lower prices
— More innovation
— More choices
It is encouraging Facebook is facing competition and recognizing it. Perhaps competition will force it to change some of its heavy handed, free speech limiting, practices.
Unfortunately 40 years of lax anti-trust enforcement by the federal government (starting in the Reagan administration) has resulted in consolidation of many industries into oligopolies allied with big government.
We need a modern Teddy Roosevelt as President willing to break up the big companies stifling competition and freedom.
I could easily see this becoming exponential. The attraction is that other people are there. If people start checking out then the attraction is no longer there then more people will check out and Pffffft the air goes out of the balloon.
Actually it makes me sort of giggle.
But, also shows we can make a difference by choosing alternative media platforms.
They, FB, has done a lot wrong over the last two years and I am happy to see them starting to get the pinch.
FB’s censoring of free speech is catching up with the commie outlet.
I had both a personal account and one for my Biz on FB and Instargram.
My personal account was hacked, they wanted a government ID and a BANK STATEMENT for my biz account to reinstate me. Getting my hacked account back was more difficult than getting a driver’s license. Walked away.
Set up a private social media on a totally different platform. More of my clients joined there than there ever was on FB or FB Groups.
The only way to stay in touch? Send them an email.
I was able through FB to get in touch with some childhood friends back east. Email addresses are not public so it would not have been possible otherwise to find them. I also enjoy receiving photos, videos, and news from my extended family this way.
Facebook is good for some things at least.
"Shrunk" is in the perfect tense. Was the author out sick that day in the third grade?
FFB locked my account for repeatedly posting “Trump makes socialists cry”. They demanded a copy of my passport to unlock it. LOL
This is untrue. FB has been loosing users for a very long time. In fact most people under 40 never use FB. FB combines users from other software to hide the fact that Facebook itself is quite a has been. WhatsApp and Instagram are the biggest two. But they have dozens of other products. Most they bought. And many are losing users. FB only is as powerful because the government is supporting it. If the laws were enforced around privacy it would be toast. The same goes for Google. Both companies are as powerful as they are because our government does not enforce laws that would limit their value. Amazon is also in there. I assume Microsoft and Apple are too. But I can’t see their privacy issues as much. They don’t sell their users quite like Google and FB.
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