In this video, I talk with author and economic analyst John Sneisen about the massive stock wipe out Facebook saw on Thursday the 26th of July.
The stock crash Facebook saw in one day was the worst stock crash in American history! Shares tumbled 19%. The company lost $119.4 BILLION in one day!
Facebook's Chief Executive Mark Zuckerberg lost $16 billion of his own money as well!
No one's surprised by the direction Facebook is heading in. As Facebook restricts individuals from sharing certain news with people, as they bring in Snopes to manage their news, as they block people from seeing business pages, telling people that they know you would prefer seeing posts from family as if they know what's best for us, it's a no brainer that Facebook is heading down fast.
Zuckerberg even said earlier this year that he understands Facebook will lose money as Facebook largely only shows posts from families and not news sites, but that it's "good for the public's psychology." How virtuous...
Facebook saw a rather large stock wipe out in March after the Cambridge Analytica scandal, but was soon after rejuvenated.
Still, Facebook is slowly but surely going the way of MySpace. It is incredibly overvalued alongside sites like Twitter as we see a tech bubble become completely unstable, up over 600% since 2008.
Will we see Facebook fall from grace SOON? Well, it's not likely the end of Facebook yet, they probably have quite a few years ahead of them but they are getting more and more authoritative with their customers. They've gotten billions in subsidies from the government over the years and people are naturally as always decentralizing.
Where are people going? Well there are lots of alternatives to Facebook. A great example is Steemit and DTube. These are incredible, largely decentralized websites where people can actually make money on the blockchain by posting. They cannot be censored. They can be downvoted, but their posts cannot be deleted. It's far more about the demand of the individual on the free market.
Humanity always decentralizes whether they know it or not because people do not like to be told what to do or told what they like and dislike. People do not like to be lead and manipulated. The decentralized blockchain alternatives stand to be great ways to separate ourselves from the incredibly demanding, watchful eye of the state through an apparatus like Facebook.
See the FULL video report here:
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Yeah, yeah! Down with FakeBook!
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Simply put, Facebook is not giving consumers what they want. And so Facebook is starting to pay a price for that.
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We should be blaming ourselves for the slow on-boarding of new users. There are free* services that allow anyone to create a Steem account.
(*) There is a .5 STEEM fee, set by the witnesses, to create a new account. Also, the new user would need some SP (~9+) delegated for bandwidth reasons.
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The problem is getting people on Steem... everytime i'm trying to tell someone to join steem i always get the same question: "where does the money come from?" after explaining it i always get the same reply: "sounds like a scam or ponzy scheme"... maybe i should get better friends xD
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You should ask them where Facebook gets all its billions of dollars from ...
That might be wise.
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I left Farcebook over 12 months ago, and have never looked back.
I vote with my feet. I am glad to see that I'm not the only one :)
Upvoted and Resteemed.
Peace.
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You should change you EOS address at the end. ERC20 EOS token is frozen and nobody can send you anything there.
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Yes, you are right the EOS address given still refers to the Ethereum block chain address for holding the ERC20 EOS token - well spotted. As you say, these EOS tokens have now been transferred to the EOS main net. To donate EOS now, a EOS public address is required,or otherwise they will be lost to the ether! I have previously posted it , but they do not seem to respond to comments.
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Facebook ill probably bounce back, but i do agree with you, decentralized social networks are the future, and facebook, twitter, instagram,etc... will sooner or late perish!
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I agree that decentralized social networks are the future, and also many other dapps that are in the pipeline. Once EOS is fully up and running, as it is really the only one, they will run dapps similar to these. So the days of of Facebook, Twitter, Instagram are numbered - in my opinion!
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I quit Facebook when they asked me for government identification, to confirm my name.
Never ever share that!
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Never been a Facebook fan, never registered as I wasn't into all that nonsense. I wish the sheep will wake up and realize what a bad idea it was.
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Big Brother is running out of brainwashing platforms.
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It's not going to go the way of Myspace. But something else will come along that puts it more into the background. People wouldn't be leaving if there wasn't a passive dictatorship being run by Zuk. Someone else will figure out a system that is sneakier about it. And all the sociopaths who love Facebook and barely knew how to use email will follow the carrot. In fact, it's called "Instagram". (which is just Facebook in disguise). Facebook will be the Google of social media, running offshoots until we are all too old to care...
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No kudos for the idea?
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I think Facebook and Twitter are both getting really bad for censorship right now and it is gonna hurt them. I think social media companies are over estimating their power in the world. They risk censoring themselves into being irrelevant.
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Facebook is going to die like MySpace did . There is just so much you can do with what basically is an electronic bulletin board . Full of self important arrogant assholes . The epitome of NARCISSISM ❗️With selfie 🤳 after never ending selfie 🤳. MEMES that use other sheeple’s creations , or likenesses to show off their low level of I.Q. And lack of imagination . He’s righ go out and socialize in a NORMAL manner . Learn forgotten social skills like having a real conversation with someone instead of punching little letters with your thumbs❗️Your killing yourselves by being so inactive❗️Diabetes is skyrocketing do to lack of physical activity❗️Grow a vegetable garden , ride a bicycle , take a walk , anything is better then nothing .
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