The bottom fell out of Facebook’s stock price this morning, down 24% for the day, and 38% from its 52 week high. In fact, its current price of 241.33 is the lowest it has been since July 2020. Wow Mark, that’s gotta sting.

Meta missed on earnings, saw Facebook’s daily active users dip for the first time ever as a public company (DAUs down by 1 million) and cited headwinds from inflation, foreign exchange, and an app tracking transparency feature Apple.

Remember when Facebook knocked MySpace out as the new Social Media hotness? Now TikTok is doing the same to Facebook. Social media is driven by teenagers and their fads. They come and go. TikTok has a shelf life, too.

Zuckerberg made the mistake of thinking his money train would last forever. I hope this is the beginning of the end for that asshole and his political money machine.

Categories: economics


all your data are belong to us · February 3, 2022 at 12:50 pm

What product do they make?

    Divemedic · February 3, 2022 at 12:54 pm

    LOL. They make money in a couple of ways:
    1 Their users freely enter information about themselves that the company sells.
    2 They sell advertising space
    3 They have games on there that are actually spyware
    4 You don’t need to use or frequent their actual webpage to be a customer. They also place tracking pixels on other websites that are used to gather information about users of other pages. That information is then sold.

      Archibald Barasol · February 3, 2022 at 1:35 pm

      “…to be a customer…”
      You’re not the customer, your the product being sold.

        Divemedic · February 3, 2022 at 3:46 pm

        That depends. I was a customer. I bought advertising space on their site. They also tried to sell me information gleaned from “tracking pixels”
        Even if you are an ordinary user, you aren’t the product. Your information is. What you share is. You aren’t the product, you are the producer of work product.
        Every time you post something on there, you are producing entertainment, content, whatever you want to call it. That content draws others to the site. That provides the eyeballs for them to generate advertising revenue.

        A secondary income stream is also had when they sell your shopping and surfing habits to information brokers.

        By the way- I love your user name. I remember that comedy bit from years ago.

Anonymous · February 3, 2022 at 4:02 pm

And the retail dip buyers are there in force. Hope it crashes hard.

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