With a Decline in Daily Users, Is Facebook Having Its 'MySpace' Moment?

With a Decline in Daily Users, Is Facebook Having Its 'MySpace' Moment?

0 Ratings
0
Episode
431 of 511
Duration
15min
Language
English
Format
Category
Non-Fiction

Since its inception in 2004, Facebook's vision of growing its user base has been going steady, despite all the scandals, backlash, US Senate hearings, and regulatory pressure.

But on 3 February, Meta – what the company is now known as – reported a half a million decline globally in its daily user base, a first in the social media giant's 18-year history.

You may think that a half a million drop is negligible when compared to Meta's existing user base, but it nevertheless wreaked havoc in the stock market, with investors fleeing after taking a peek at Meta's quarterly earnings report.

The dip in users, combined with the earnings report, plunged Meta's stock by nearly 26 percent, instantly shaving $250 billion dollars off its market value and $29 billion off Mark Zuckerberg’s net worth.

And if you can't compute this fall, imagine the fall of two IBMs, two General Electrics, or McDonald's! This was the single largest one-day dollar drop for a US company in history!

Meta listed out several reasons for the drop - from Apple's new privacy rules to the increase in competition from TikTok. But the fundamental questions that I will try to address in today's episode are: Is Facebook having its 'MySpace' moment? Has it reached its peak? What led to this fall?

To help me unpack this, I speak to Udbhav Tiwari, a policy advisor at Mozilla. Tune in!

Host and Producer: Himmat Shaligram

Editor: Shorbori Purkayastha, Nitish Rampal

Music: Big Bang Fuzz

Listen to The Big Story podcast on:

Apple: https://apple.co/2AYdLIl

Saavn: http://bit.ly/2oix78C

Google Podcasts: http://bit.ly/2ntMV7S

Spotify: https://spoti.fi/2IyLAUQ

Deezer: http://bit.ly/2Vrf5Ng

Castbox: http://bit.ly/2VqZ9ur

Learn more about your ad choices. Visit megaphone.fm/adchoices


Listen and read

Step into an infinite world of stories

  • Listen and read as much as you want
  • Over 400 000+ titles
  • Bestsellers in 10+ Indian languages
  • Exclusive titles + Storytel Originals
  • Easy to cancel anytime
Details page - Device banner - 894x1036
Cover for With a Decline in Daily Users, Is Facebook Having Its 'MySpace' Moment?

Other podcasts you might like ...