Comment on Meta/Facebook being in trouble (Score 1) 117
Some points that explains Facebook/Meta decline and drop of its shares, and has wiped off huge market value, 1) declining user numbers at Facebook, particularly losing its young users or teens in most western, and several non-western countries, 2) Tiktok is a problem, the video-sharing app TikTok as a key contributor to the user growth problem. The Chinese-owned TikTok has 1 billion users worldwide and is one of the reasons why Meta is struggling to compete in the market for young consumers. 3) Hits to revenue growth, recent changes with Apple’s iOS software for iPhones had hurt the business. Apple now requires users to give permission for companies such as Meta to gather data about them as they browse across the web. Unsurprisingly, users have said no thanks and it has made its ad targeting less effective. 4) Patience and money is needed for the metaverse, a term coined as blending of the physical and digital worlds via a mix of virtual and augmented reality. Zuckerberg believes in this next big thing and renamed the company from Facebook Inc. to Meta. However, it will take years for people to get accustomed to it. Thus the result of Meta's virtual reality such as Reality Labs and its top-selling Oculus VR headsets garnered losses. It is expected that revenues will grow including the costs.
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