For The First Time Ever, Facebook Loses Users

Facebook lost daily users for the first time in its 18 year history which CEO Mark Zuckerberg believes was caused by the TikTik boom.

Mark Zuckerberg said during an earnings call, according to a newspaper outlet that people have a ton of choices for how they want to spend their time, and apps like TikTok were developing extremely fast.

Facebook reported a decline of almost 500,000 in daily logins during the last three months of 2021.

Mark Zuckerberg reiterated that Meta, the company that owns Facebook, Instagram and Whatsapp, was pushing hard to develop its short-form video Reels in an effort to compete with TikTok.

He added that this was why their emphasis on Reels was so significant over the long term.

Facebook, which now only has 1.93 billion users logging in each day, also saw its shares fall more than 20 per cent in extended trading on Wednesday after unexpectedly heavy spending on its Metaverse project led to a rare plunge in its fourth-quarter profit.

Meta saw its stock fall 22.6 per cent to $249.90 in after-hours trading, wiping about $200 billion off the company’s market value.

The company heavily invested in its Reality Labs segment, which includes its virtual reality headsets and augmented reality technology, during the final quarter of 2021, accounting for much of the profit decline.

According to Investopedia, Mark Zuckerberg, who’s worth around $107 billion, held more than 398 million shares of Meta at the end of 2020 and based on his reported holdings, the CEO personally experienced more than $29 billion loss when the company’s stock plunged on Wednesday.

Analysts allege investors had anticipated signs of declining user growth but were taken aback by the number of ad dollars the company lost in the wake of TikTok’s growth.

TikTok is dominating the short form user-generated video market, despite Meta offering its own Reels product on Instagram.

According to Bloomberg, data reveals the platform lost consumers to TikTok and saw lower income from ads destined for its short-form videos.

The figures, however, shouldn’t have blindsided investors as there have been repeated signs that Meta was trying to compete with the new video format.

Last summer, Instagram chief Adam Mosseri pushed the flatform’s focus to embrace videos instead of its usual emphasis on photo sharing, a move Mosseri said was inspired by TikTok’s growing popularity.

Mark Zuckerberg highlighted the move during Wednesday’s earnings call, reiterating that Instagram would continue to focus on Reels.

Facebook is full of ads and is set up for Facebook to make money, and it’s not a fun place to connect with friends anymore, and I find it ironic that there are people out there who think they can find friends by using a vehicle developed and managed by someone with all of his billions.

Nobody seems to live in the real world anymore, everything is virtual, filled with none real friends, and most people have been booted off the platform for not liking the right flavour ice cream, and most people end up in Facebook jail or being dogpiled by wokes.

It’s been ruined now. It was entertaining in the beginning and it was what it claimed to be, and it was a fantastic way to effortlessly keep in contact with friends and family from around the world, but not now!

And it also gets money from data. Data is a new manufacturing and can be sold on for a vast profit, and people still haven’t realised that in the United Kingdom, the government has sold all your GP and NHS data for millions to various drug and health companies, unless of course, you’ve opted out by filling in a form they just sell away. Although apparently it’s made anonymous, but with the incompetence of this government, who knows!

Published by Angela Lloyd

My vision on life is pretty broad, therefore I like to address specific subjects that intrigue me. Therefore I really appreciate the world of politics, though I have no actual views on who I will vote for, that I will not tell you, so please do not ask! I am like an observation station when it comes to writing, and I simply take the news and make it my own. I have no expectations, I simply love to write, and I know this seems really odd, but I don't get paid for it, I really like what I do and since I am never under any pressure, I constantly find that I write much better, rather than being blanketed under masses of paperwork and articles that I am on a deadline to complete. The chances are, that whilst all other journalists are out there, ripping their hair out, attempting to get their articles completed, I'm simply rambling along at my convenience creating my perfect piece. I guess it must look pretty unpleasant to some of you that I work for nothing, perhaps even brutal. Perhaps I have an obvious disregard for authority, I have no idea, but I would sooner be working for myself, than under somebody else, excuse the pun! Small I maybe, but substantial I will become, eventually. My desk is the most chaotic mess, though surprisingly I know where everything is, and I think that I would be quite unsuited for a desk job. My views on matters vary and I am extremely open-minded to the stuff that I write about, but what I write about is the truth and getting it out there, because the people must be acquainted. Though I am quite entertained by what goes on in the world. My spotlight is mostly to do with politics, though I do write other material as well, but it's essentially politics that I am involved in, and I tend to concentrate my attention on that, however, information is essential. If you have information the possibilities are endless because you are only limited by your own imagination...

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