… a quote taken from the post published by Ice Cube on Twitter in 2014.
https://pixabay.com/pl/service/license/.
Accessed: 07-02-2022.
On the one hand it’s an article about Meta (new “mother” of Facebook portal) and its lose in value – more than 250 bn dollars down, on the other hand, in bigger picture, about the changes in social media market that can been observed recently.
Let’s start with facts.
Financial Times reports: “Investors wiped more than $220bn from the market valuation of Facebook owner Meta as it warned that users were spending more time on newer rivals such as ByteDance’s TikTok.” You can say: it’s quite normal situation. Little did we know, whether Mr. Cube’s post was about stock fluctuations, probably not, but as it has been said, sometimes share price go up and at other times they go down. We have to use to it.
More interesting (and crucial) is question regarding reason for that. On the market there are only few things that are accidental. This case is not one of such things. Let us think: What shareholders / analytics guys, economists and other people that have impact on the market, are so afraid of regarding FB? Hard to say, but in this social media business we, the people, aren’t very loyal. So we are moving from one portal to another. The quicker apps like TikTok are growing, the more worried about the condition of Mata are the its share holders and others group of interest.
“People have a lot of choices for how they want to spend their time, and apps like TikTok are growing very quickly – Mark Zuckerberg, chief executive, quoted by Financial Times in the mentioned article.
Sure thing, our world isn’t “monolith” anymore. There isn’t only FB (as it used to be in the past) being role model as a social platform and nothing more. Snapchat, Twitter, TikTok to mentioned the most well-known platforms. But out of three rivals of FB the last is the most dangerous (because of its potential to growth and the ability to attract, especially, young people). The youngers do enjoy posting “funny” (some of the them more / some – less) short films. In the meantime FB is a concerned by the this age group as “archaic tool for the elders”. No doubt it easy to find Your parents on FB, some Grandparents are to found on the platform too.
I do believe FB will be nr 1 (at least in the near future) social media platform, bringing people together. Simultaneously, I were responsible for FB, I would implement changes faster in order to adopt to new conditions – social awareness regarding data privacy policy. As I observe actions made by FB I am still having the feeling this is old fashioned organization which hasn’t learned by its own mistakes. Of course, Cambridge Analytica has impacted the FB’s altitude towards “our” data. But still the FB (Mata) business model is still based on ads. And as we know well. Ads depend on information (user’s tracking etc.). So I do think, that eventually FB has to change its philosophy in order to keep the users. Otherwise, according to me its future would be not so bright.
The content sources:
https://on.ft.com/3Gpoafx. Accessed: 04-02-2022.
https://twitter.com/icecube/status/530819499344535552. Accessed: 04-02-2022.
The image source:
https://pixabay.com/pl/illustrations/business-chart-graph-graphic-5475658/. Accessed: 07-02-2022.