I was going to post this in the News subforum but I see that it's gone and I have no idea where else to post this topic but since Facebook is U.S. based, I'd figured I post it here.
Anyway, it was around $120 billion and the ripple effects are already being felt. Hearing this news reminded me of one of the predictions made by someone on here about Facebook being gone by the early 2020s (It was under a specific year but I can't remember which one).
From the fake news fiasco to now this. I wonder what else is going to happen to Facebook that will put the final nail in its coffin? What will happen with other social media companies such as Instagram and Twitter? I think a meditation on social media companies might be fun!
Random Thought: I think we are in the beginning stages of a social media detox and this might have effects on Facebook too.
EDIT: Here are some news links:
https://www.marketwatch.com/story/facebook-stock-crushed-after-revenue-user-growth-miss-2018-07-25
https://variety.com/2018/digital/news/facebook-market-cap-120-billion-user-growth-slow-1202886792/
The rumor is that Facebook is in big trouble because if you removed all the dubious/unethical ways it makes money, what's left over is too little for the company to go on.
I must say, I always disliked Facebook from the start and the only reason I ever opened an account with them was in order to contact people that I couldn't get in touch with in any other way. I always felt like Facebook's style was too controlling for my taste. They control too much and you control too little of what's going on in your page.
I have the feeling that in five years' time, Facebook will be history. In its place we'll have a form of social media that's much more streamlined and direct. Instead of looking like content framed by Facebook, it will look just like a stream of content. But unfortunately, every bit as addictive as Facebook.