Facebook’s Monopoly Is Imploding Before Our Eyes

Zeedox

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Dec 1, 2020
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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...

...The company’s pivot to the metaverse, complete with a name change (Meta Platforms Inc.) and a soulless PR campaign featuring chief executive Mark Zuckerberg’s sickly digital avatar, has resulted in it hemorrhaging money, while its core products—Facebook, Instagram, and WhatsApp—all seem to have very real vulnerabilities. Reality Labs, Facebook's metaverse fantasy team, burned through $4.5 billion in 2019, $6.62 billion in 2020, and $10.19 billion in 2021 (that’s over $21 billion).
 
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The moment I heard "meta" I knew it was going to flop.

I've seen a BUNCH of WhatsApp commercials lately. They're selling it as "use this instead of regular texts on your phone because your texts aren't encrypted and everybody can read them while WhatsApp is encrypted and secure.

Yeah. Sure. Right.

Giving the company that owns Facebook all of your messages is secure. :rolleyes:
 
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And here it comes:


The layoffs are expected to affect many thousands of employees and an announcement is planned to come as soon as Wednesday, according to the people. Meta reported more than 87,000 employees at the end of September. Company officials already told employees to cancel nonessential travel beginning this week, the people said.​