Posted BY: Bill | NwoReport
Facebook’s advertising mega-machine is faltering right as its founder bets big on a virtual reality future no one seems to want. Is this the beginning of the end?
For almost two decades, Facebook has dominated headlines and the lives of its users. It’s been blamed for genocides, pointed to as a vector of disinformation, and depressed you as you scrolled past high school acquaintances that seem to be doing so much better than you.
But now its founder Mark Zuckerberg is obsessed with a virtual world no one wants, the company’s stock is down 70 percent from its peak, and it has lost $800 billion of its market capitalization.
Are we finally witnessing the end of Facebook?
In a little over one year, the company has shed nearly $800 billion of its market capitalization, with the lion’s share of that coming these past eight months. To be clear, the company is one of the biggest tech firms in existence, with billions of people regularly using its products and a still growing user base, and yet, by the definition of one proposed antitrust bill, has sat below the market capitalization of what counts as “Big Tech” for months.
Facebook’s miscalculation about its ability to pursue finance as a new line of business, compounded by its miscalculation about investors’ patience for the metaverse as a new line of business, compounded by Apple’s ability to leverage its monopoly to damage Facebook’s core business has left Facebook weaker in the markets and in our culture than at any point in recent memory. Whether regulators or competitors (or we) will be able to take advantage of this moment of weakness, however, is another question altogether.
The END is near for FACEBOOK!
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The Higher you place yourself, the farther you have to Fall! You reap what you sow!