Meta/Facebook is having a tough time. Facebook recently announced that it had fewer daily active users during the quarter for the first time ever. The company's stock dropped 25%, slicing off $230 billion of market cap--the most of any company ever.
This company was too big even before it was allowed to gobble up more companies such as Snapchat and Instagram. Granted, no one is forced to use Facebook. The problem with Facebook is so many people are on it. Something like over a billion daily active users?? That's crazy. Facebook is the primary place where I have gotten the most traction with my newsletter. You want to go to where the people are, and for better or worse, that's Facebook.
I say it's for worse. You don't have to look very far to see the nefarious aspects of Facebook's business model. From the lack of privacy protections to the algorithm designed for profit from rage noted by the whistleblower.
Now, Facebook doesn't annoy me the way the
Church of Twitter
does. I've gotten a lot of great content and met great people in Facebook groups over the years. But if it suddenly disappeared tomorrow, I'd be completely fine with it.
I wonder if Mark Zuckerberg is betting too much on his Metaverse vision. I read that the sub-company that will produce the Metaverse lost 11 billion last year. Of course, it can't be expected that a company without a product is making money yet, but I wonder how many years those negative 11 billion can be pumped out of Metas reserves?
People claim that the Metaverse is going to be bigger than the internet. I've been hearing that virtual reality is the next big thing since I was a kid. I'm still waiting for it to take off.
Well, I do think VR is the next big thing, but it will take at least a few years still. As long as devices aren't available at 100 USD there won't be mass adoption in my opinion.
I think "the next big thing" is a way overused sentence. With the internet, there are so many next big things when instead they will need at least a few more years. The same goes for blockchain, although there are small companies that are using it outside of the "financial" part, those companies are still small, the technological evolution with blockchain has yet to come.
I think "the next big thing" is a way overused sentence. With the internet, there are so many next big things when instead they will need at least a few more years. The same goes for blockchain, although there are small companies that are using it outside of the "financial" part, those companies are still small, the technological evolution with blockchain has yet to come.