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Facebook has lost $100B in 10 days and now advertisers are pulling out

business.financialpost.com

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Re: Facebook has lost $100B in 10 days and now advertisers are pulling out

#61

Post by pseudometa »

AdamN wrote: post #19

What's interesting for me is that I finally deleted my account. I never used it anyway but now I feel empowered to say "I don't have an FB account" and that's ok. I think this is a sea change - there will never again be this dominant of a social network imho. From now on the space will be fractured into niches (AngelList, LinkedIn, NextDoor, etc...).

I did the same. While I used to use my account regularly 5+ years ago, my feed was just full of stupid updates. People posting food pics, family commenting on news, and old viral videos, and lots and lots of ads. So, hey, I deleted my account. While Facebook isn't loosing any revenue from me, it certainly didn't ever attract me back into the active user status. Good riddance.

Re: Facebook has lost $100B in 10 days and now advertisers are pulling out

#62

Post by sushid »

tomc1985 wrote: post #60
manmal wrote: post #33

Earlier quoted context omitted.

FB‘s open source projects are one of the few things they are doing right, so why avoid them? AFAIK the licenses are ok, so they are interchangeable in the end as maintainers.

> AFAIK the licenses are ok What about that patent license noncompetition thing? That's cool? Or did that get pulled?

It's been changed.

https://code.facebook.com/posts/300798627056246/relicensing-...

Re: Facebook has lost $100B in 10 days and now advertisers are pulling out

#63

Post by daveFNbuck »

juicy-fruit wrote: post #48
goalieca wrote: post #34

Earlier quoted context omitted.

If facebook’s engineering talent is top tier, then how come I have to recommend to everyone to delete that awful battery draining app.

What kind of counter point is that? If Apple has top tier talent, why do they ship an OS with a huge security vulnerability? With a map framework that has memory leaks? With a messaging app that messes up the order of messages? If Google has top tier talent, why did they create an OS that allowed a third party developer to siphon calls, contacts and messages? If this is your argument, then no company has top talent.

If top tier is a low enough bar that Facebook, Google, and Apple can hire exclusively from it, then it doesn't mean much at all to be top tier anyway.

Re: Facebook has lost $100B in 10 days and now advertisers are pulling out

#64

Post by CryoLogic »

AdamN wrote: post #2

The bigger problem is recruiting. How many offers will be declined in favor of Google, startups, etc...

Facebook's offers are still higher value than Google/Startups. And Google (although not the company in question) has nearly as questionable data use as Facebook.

Re: Facebook has lost $100B in 10 days and now advertisers are pulling out

#65

Post by CryoLogic »

I wouldn't particularly mind if it lost another 100-200b in market cap. It's gotta be enough to have a long term affect, and to teach the other social media giants a lesson so they don't replicate the same behavior. Unfortunately the might just get better at hiding it.

Re: Facebook has lost $100B in 10 days and now advertisers are pulling out

#66

Post by phil21 »

reaperducer wrote: post #14

Perhaps some good will come out of all this. Maybe in the future, when some PHB asks development to add a questionable data gathering function to a platform they can say, "Remember Facebook?"

We get entirely different outcomes when we think of that scenario. In my mind the manager goes "hell yes I remember Facebook, give me some of them stock options!" - the "questionable" data gathering was the entire reason the platform became so valuable and started printing money.

Re: Facebook has lost $100B in 10 days and now advertisers are pulling out

#67

Post by megablast »

bb88 wrote: post #27

So while it seems like $100B dollars is a large sum, it's really about 12% ish of the market valuation. Yes it hurts, but no, it's not the end of the company. Think of it this way. How much money will FB have to spend to rebrand itself and fix the privacy issues. $1 Billion, maybe $2 Billion? You can do a lot with $2B dollars.

It will be back up within a few weeks. That is the way it works.

Re: Facebook has lost $100B in 10 days and now advertisers are pulling out

#68

Post by chrischen »

gonehome wrote: post #35
nugi wrote: post #13

This is the beginning of the Big Churn. Less top talent will want to be associated with facebook. Already even a few more privacy clueless friends family members are deleting their accounts. Adverts were always so low yeild, and fb pages 'because we need one'. Now that is all changing due to perception. The FTC, stocks falling, are further indicatuons of falling trust. And all business is built on trust.

Oh please - the overreaction from this is ridiculous. I'm buying FB call options. Facebook's network effect is extremely strong - this is also not even including their other assets (Instagram, Whatsapp, Oculus). The API access was in violation of terms of service and the ability to access data through friends via the FB graph has already been closed.

Yes, Facebook's current network is fairly strong, but you shouldn't look to where the masses currently are, you should look to where the trendsetters, the young, and the people in the know—where they are. These people are ahead of the curve, and the signs they are emitting is that Facebook is not serving their interests and needs. Young people don't want to use facebook because it forces you to interact with everyone, including parents and people out of your circle. Privacy conscious people and many at the forefront of technology all either personally avoid and limit facebook usage or keep their children away from it (if they aren't already disinterested in the first place). Yes Facebook allows you to "fix" these issues with enough configurations, but then why would a new user go through the hassle of all that when they could just install snapchat or instagram (yes I know facebook owns this, but it's not facebook).

So unless there's a fundamental shift in its business model and allure, its trajectory will be doomed. It doesn't mean Facebook the company will fail, but it does mean that the Facebook product—what it is in its current form—has a finite shelf life.

Re: Facebook has lost $100B in 10 days and now advertisers are pulling out

#69

Post by murph-almighty »

sushid wrote: post #62
tomc1985 wrote: post #60

Earlier quoted context omitted.

> AFAIK the licenses are ok What about that patent license noncompetition thing? That's cool? Or did that get pulled?

It's been changed. https://code.facebook.com/posts/300798627056246/relicensing-...

It's only been changed for their most popular projects, though.
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