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-   -   Facebook getting slaughtered today: $118 Billion in market cap, POOF (https://www.revscene.net/forums/715119-facebook-getting-slaughtered-today-%24118-billion-market-cap-poof.html)

PeanutButter 07-26-2018 08:02 AM

Facebook getting slaughtered today: $118 Billion in market cap, POOF
 
So, who's buying Facebook today?

Does anyone even use facebook anymore? I know my parents use it a lot still, but I don't use it much anymore. I'm mostly on Instagram now.

Quote:

More than $118bn (£90bn) has been wiped off Facebook’s market value, including a $16bn hit to the fortune of its founder, Mark Zuckerberg, after the company told investors that user growth had slowed in the wake of the Cambridge Analytica scandal.

Facebook’s shares plunged by 19.5% on Thursday when the stock market opened in New York, a day after the Silicon Valley company revealed that 3 million users in Europe had abandoned the social network since the Observer revealed the Cambridge Analytica breach of 87m Facebook profiles and the introduction of strict European Union data protection legislation.

The collapse of Facebook’s share price puts the social network on track for the biggest ever one-day drop in a company’s market value. Shares fell to $175 in early trading on Thursday, valuing the company at $501bn, a drop of $118bn from a record high of $619bn on Wednesday. The previous biggest collapse came in 2000, when Intel lost $91bn in a day

The single biggest loser is Zuckerberg, who owns nearly 17% of the company and whose paper fortune fell from $86.5bn to $70bn, sending him tumbling from the third-richest person on the planet to the sixth.

The collapse came after the company told investors to expect a significant decline in growth rate, and revealed that the number of users in Europe had fallen from 282 million to 279 million.

David Wehner, Facebook’s chief financial officer, said on Wednesday that the company’s decision to give its users “more choices around data privacy” following the Cambridge Analytica scandal “may have an impact on our revenue growth”.

“Our total revenue growth rates will continue to decelerate in the second half of 2018, and we expect our revenue growth rates to decline by high single-digit percentages from prior quarters sequentially in both Q3 and Q4,” he said. “Looking beyond 2018, we anticipate that total expense growth will exceed revenue growth in 2019.”
...
Read more here:https://www.theguardian.com/technolo...r-growth-shock

yray 07-26-2018 08:18 AM

CUCK BY THE ZUCK

good entry point, facebook potential is unlimited


CivicBlues 07-26-2018 08:31 AM

Quote:

The single biggest loser is Zuckerberg, who owns nearly 17% of the company and whose paper fortune fell from $86.5bn to $70bn, sending him tumbling from the third-richest person on the planet to the sixth.
If I were Zuckerberg, I'd cash out and start working on curing some tropical disease or some shit. Start working on that legacy Zuckboy, lest you be forever known as the guy who helped get Trump elected.

Oh yes, many people over the age of 30 still use facebook. I know, I'm still one of them :okay:

68style 07-26-2018 08:34 AM

I don't get the comments about users switching to Instagram as if it's a negative... Facebook owns Instagram people!

Nabatron 07-26-2018 08:40 AM

yeah I rarely use facebook...only for birthday posts and monitoring the dumb shit my parents post on there lol

unit 07-26-2018 08:53 AM

i just bought in.. feeling good about it.

dachinesedude 07-26-2018 09:00 AM

FB marketplace is bumping though, getting way more hits on household items than craigslist

Spoon 07-26-2018 09:00 AM

Never used Facebook even though I fit their demographic. I only have a dummy one to test stuff for work.

IMO, Facebook is way too difficult for people whose never used it before. Not willing to give up the time to learn or maintain these trivial things either. I prefer Twitter as a news feed. It's relatively simple to use.

Bouncing Bettys 07-26-2018 09:27 AM

90% of my posts are just sharing memories of old posts. It's handy for buying/selling on local bidding pages.

dapperfied 07-26-2018 09:40 AM

In

twitchyzero 07-26-2018 09:41 AM

facebook isn't going anywhere...at least in our lifetime
it's too deeply entrenched within the internet

123654123 07-26-2018 09:48 AM

must be nice to lose billions and still be the 6th richest person in the world

Rallydrv 07-26-2018 09:56 AM

got rid of facebook in 2008, never used it since. dont think i need another company making money of my data, browsing habits and what products and services or political views (for that matter) i use or have.

they are sitting on gold mine of analytical data, everything else they make on top of, is peanuts.

FerrariEnzo 07-26-2018 10:14 AM

My FB page is only to enter contests.. I have posted anything on my page in years.. lmao

PeanutButter 07-26-2018 10:20 AM

Quote:

Originally Posted by dachinesedude (Post 8912626)
FB marketplace is bumping though, getting way more hits on household items than craigslist

I've noticed this too. I post a few items on craigslist and then a friend recommended marketplace and I got like 5 messages in the first 30mins. Sold the item the net day.

I exclusively use marketplace now too.

PeanutButter 07-26-2018 10:22 AM

Quote:

Originally Posted by Rallydrv (Post 8912642)
got rid of facebook in 2008, never used it since. dont think i need another company making money of my data, browsing habits and what products and services or political views (for that matter) i use or have.

they are sitting on gold mine of analytical data, everything else they make on top of, is peanuts.

Do you use google?

Google can actually tell the future. They can predict what is going to happen in market places.. They can see trends and they can capitalize on it. Google, Facebook, and Amazon are the three henchmen.

fliptuner 07-26-2018 10:47 AM

What's Facebook? Is that like ICQ?

!LittleDragon 07-26-2018 10:57 AM

I only have long distance family members or people who have moved away. Friends and coworkers who I see all the time don't need to be on my FB. Call, txt or just come over. Gave up on FB many years ago when my feed started to look like one long spam email.

Ludepower 07-26-2018 11:24 AM

It's cool to hate on fb but the numbers prove u hyprocrites still using many of their platforms.

Manic! 07-26-2018 11:31 AM

Quote:

Originally Posted by fliptuner (Post 8912651)
What's Facebook? Is that like ICQ?

I think it's like online message boards.

fliptuner 07-26-2018 11:35 AM

Quote:

Originally Posted by Manic! (Post 8912659)
I think it's like online message boards.

RIP AIM

Euro7r 07-26-2018 12:07 PM

Great opportunity to buy some shares =P

bcrdukes 07-26-2018 12:22 PM

Quote:

Originally Posted by fliptuner (Post 8912661)
RIP AIM

mIRC? :badpokerface:

XSSIV 07-26-2018 12:36 PM

Apparently hi5 is still around! LOL

CivicBlues 07-26-2018 01:28 PM

Friendster, MySpace, AsianAvenue!


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