Facebook has been an absolutely rock-solid dominant force in the tech world for over a decade now, so this kind of news is nothing short of stunning:
Facebook lost daily users for the first time in its 18-year history in the final quarter of 2021, which CEO Mark Zuckerberg believes was caused by the TikTok boom.
The social media giant's devastating earnings report on Wednesday sent Facebook shares plunging more than 20 percent, wiping more than $200 billion off the company's market cap and erasing $29 billion from Zuckerberg's net worth.
Facebook reported a drop of nearly 500,000 in daily logins during the last three months of 2021.
'People have a lot of choices for how they want to spend their time, and apps like TikTok are growing very quickly,' Zuckerberg said during an earnings call Wednesday, according to the Washington Post.
"Apps like TikTok"?! Surely, Mr. Zuckerberg forgot to mention the major draw of Not the Bee, the greatest news and social network ever designed.
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For real though, the news is not very good for Facebook:
The data also revealed that consumers are being less interested in the Facebook platform, specifically in Africa and Latin America, where the loss of daily users was greatest. Some analysts allege this shows the product may be globally saturated.
Let's be honest here: Aside from its seriously negative effects on the fabric of society, Facebook is also just too much. It's constant, omnipresent, overshadowing, relentless—it has invaded virtually every part of the economy, media, personal and private life.
Its censorship and "fact-checking" has only made it worse.
Of course people are getting sick of it!
Let's keep it going, people! 😤
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