Mark Zuckerberg the CEO of Facebook is on the verge of possible collapse.
Not only is Facebook becoming an archaic thing of the past in many ways, but people are also tired of the censorship and political games that FB is constantly playing.
Zuckerberg saw his company face its worst day on the stock market.
Facebook lost $237 Billion in value.
Mark Zuckerberg lost about a quarter of his entire net worth in one short day.
I guess I’d be crying too if that happened…
So, why did Facebook crash?
Well, there are many reasons as we mentioned above, and another major factor is that other social media companies like TikTok are giving FB a run for their money. Remember earlier, I said that Facebook was getting “archaic,” right? TikTok is the shiny new (Chinese) trinket catching people’s attention.
And the pressure is getting to Mark.
During a video meeting to talk about the crash, Zuckerberg urged his team to put more emphasis on “video social media,” like TikTok does, and is said to have been on the verge of tears.
Zuckerberg even admitted he was on the verge of crying, claiming he “scratched his eye” and that it had nothing to do with Facebook’s falling stock prices.
Good grief, this guy is a socially awkward weirdo.
Daily Mail reported that the decline marked Facebook’s worst one-day loss since its Wall Street debut in 2012, and dragged down broader markets in the US and around the world.
After the markets closed, the Dow was down 518 points, or 1.45 percent. The S&P 500 dropped 2.44 percent and the Nasdaq was down 3.74 percent. Facebook is a component of the Nasdaq and S&P.
At the virtual meeting on Thursday, Zuckerberg responded to a question about burnout by saying that the company is considering offering long weekends, but he added that a four-day workweek would not be productive, according to a someone who was not authorized to speak about the meeting.
He encouraged employees to use their vacation days.
Another person familiar with the company’s plans told AdAge that employee shares vest on February 15, meaning that employees are able to earn shares of the company if they stay through that date. Also, conversations about raises and bonuses happen in March, potentially factoring into workers’ decisions to leave.
A lot of people are sick of Facebook and I don’t know if Mark’s creepy “metaverse” is going to save his company.
It looks to me like a clunky 2002 version of the SIMS for a bunch of socially awkward losers who are wearing 6 masks and afraid to leave the house.
Sorry, but that’s the truth.
Zuck is banking on people being afraid to go outside in the real world, thanks to COVID, and will prefer to live in the “metaverse,” but I actually believe the opposite will happen.
People will start being MORE social in real life because this COVID thing has been such a complete nightmare.
And that might have Mark crying again…
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