Facebook Loses Users Plummeting $200BN: CEO Zuckerberg Blames TikTok

Facebook lost daily users for the first time in its 18-year history. CEO Mark Zuckerberg believes Facebook’s decline in users is likely due to the boom in popularity of the competitor platform TikTok.

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.

Zuckerberg reiterated that Meta – the company that owns Facebook, Instagram and WhatsApp – is pushing hard to develop its short-form video Reels in an effort to compete with TikTok.

‘This is why our focus on Reels is so important over the long term,’ he added.

Facebook, which now only has 1.93 billion users logging in each day, also saw its shares plunged more than 20 percent in extended trading on Wednesday after unexpectedly heavy spending on its Metaverse project led to a rare decline in its fourth quarter profit.

Meta saw its stock fall 22.6 percent to $249.90 in after-hours trading, wiping about $200 billion off the company’s market value.

The company heavily invested in its Reality Labs segment – which includes its virtual reality headsets and augmented reality technology – during the final quarter of 2021, accounting for much of the profit decline.

Zuckerberg, who is worth approximately $107 billion, held more than 398 million shares of Meta at the end of 2020, according to Investopedia. Based on his reported holdings, the CEO personally experienced a more than $29 billion loss when the company’s stock fell Wednesday.

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Is Las Vegas The Next Silicon Valley? More Tech Companies Relocating

An influx of tech companies and workers have moved into the valley to find greater opportunities and help diversify our economy.

Throughout the past couple of months and during the pandemic, many companies have looked for more affordable real estate, a better quality of life, and fewer pandemic restrictions.

Arya Bina is the founder of Kobe Digital, and he says that is the main reason why he moved his tech company’s headquarters from Los Angeles to Las Vegas. He says the days of our city only being a destination for gambling, resorts, and entertainment are over.

“There is enough momentum here where it is not like you are going into a place with a completely blank slate,” Bina said. 

Bina says based on his predictions, Vegas will be the next big tech hub. His company is an advertising agency that helps tech industries grow. After being in Southern California for five years, he says he realized he needed a city with more opportunities.

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Facebooks Collapsing Rebirth: Countdown To The Metaverse

​About two weeks ago I posted on a private social media page how Facebook was toxic for individuals with anxiety, PTSD, and other mental health conditions. In comparison, I urged those seeking professional and serious business connections in the cannabis and crypto industries to use LinkedIn. The social media platform has a high number of business owners and content creators who publish valuable and worthwhile posts. People conduct themselves more seriously on LinkedIn is what I have noticed, and it’s been this way consistently for years. 

It wasn’t until this past summer when a tragic event occurred in my life that I transitioned to using LinkedIn again. I actually turned off the notifications of invite requests only at the start of this year. I would let them pile up in my inbox knowing one day I’d sign on again. But as Facebook showed me memories that I didn’t want to view instead of searching their settings to see if there was an option to turn it off, I decided it was time for our virtual relationship to end.

About a year ago I had a pair of earrings that I designed to go viral on Facebook and it was the largest amount of orders that I had ever received. As an artist and designer, it felt great to receive recognition for my work. My inbox started to get flooded with women asking for my website. As I responded as quickly as I could, Facebook started to block any messages that I sent with a link. They notified me of 48 hours when I could send a link in my messages again. I know, I know spam prevention control. But I was not initiating these messages, I was only replying.

After this magnificent event occurred in my art life, I was encouraged (motivated) to share more. Despite the message situation. I mean, that is what the platform encourages to make the algorithm work for you, right? Share! Share Share! The more I shared, the fewer views it said I had. I tried scheduling posts, posting organically, and I even tried ads. Facebook would offer $10-$50 credit for creating an ad but I would never see the credits after I paid.

I posted in “professional” art and business groups but over the last year “follow for follow train” posts would take over, some groups would not allow you to share your business link (which made no sense to me), some groups let scammers comment on everyone’s post, and in others, the admins would demand you follow them on Instagram before approving your post. The biggest hustle I witnessed was attractive women group admins charging $10-$50 for you to post in their group.

At this point, I was only using Facebook to promote my art, and the free and paid methods weren’t working on my behalf. 

Facebook made saying goodbye easy.

Over the years I, like many others, questioned the violent viral videos, the completely off recommendations for suggested friends, how you could select not to see content but it was still appearing, the spike in irrelevant ads, and the disappearance of posts from those on your friendslist.

Facebook outgrew itself.

Too many new (ideas) services, options, and constant updates. Not enough focus on bettering society with such a powerful and accessible platform. The scariest thing about the recent outage was the thought of the millions of people refreshing their app for hours who didn’t even have a business but just wanted to have access to their feed. Pointless feed checking. An unhealthy social media addictive habit that started because of Facebook.

On October 28th Facebook CEO Mark Zuckerberg will continue the conversation of the company rebrand, new name, and his focus on building the metaverse at the annual Connect conference.

There will be fake outrage by the Facebook social media world that has in my opinion dumbed down the smartest of individuals. ​Mark has stated that he wants to focus on the younger generation. I don’t know if this is his way of trying to give back to the global social media community after the damage Facebook has done but as the once viral saying goes: Hide Your Kids.

Article By K. Crystal Carter

K. Crystal Carter is a cryptocurrency and blockchain enthusiast who is originally from Oakland, California. She has 7.5 years of experience in the financial industry, and 6 years of being a cannabis hydroponics grow director and cannabis advocate at local City Hall meetings. She currently resides in Las Vegas as one of the lead Earthy Realist team members.

Related: Wall Street Sends A Clear Message To Facebook


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Apple Announces The States Allowing Driver’s Licenses And IDs In Apple Wallet

PRESS RELEASE – September 1, 2021 |

Driver’s licenses and state IDs in Apple Wallet provide an easy, fast, and more secure way for people to present their driver’s license or state ID from their iPhone or Apple Watch.

Apple today announced that it is working with several states across the country, which will roll out the ability for their residents to seamlessly and securely add their driver’s license or state ID to Wallet on their iPhone and Apple Watch. Arizona and Georgia will be the first states to introduce this new innovation to their residents, with Connecticut, Iowa, Kentucky, Maryland, Oklahoma, and Utah to follow. The Transportation Security Administration (TSA) will enable select airport security checkpoints and lanes in participating airports as the first locations customers can use their driver’s license or state ID in Wallet. Built with privacy at the forefront, Wallet provides a more secure and convenient way for customers to present their driver’s licenses and state IDs on iPhone or Apple Watch.

“The addition of driver’s licenses and state IDs to Apple Wallet is an important step in our vision of replacing the physical wallet with a secure and easy-to-use mobile wallet,” said Jennifer Bailey, Apple’s vice president of Apple Pay and Apple Wallet. “We are excited that the TSA and so many states are already on board to help bring this to life for travelers across the country using only their iPhone and Apple Watch, and we are already in discussions with many more states as we’re working to offer this nationwide in the future.”

“This new and innovative mobile driver’s license and state ID initiative with Apple and states around the country will enable a more seamless airport security screening experience for travelers,” said David Pekoske, TSA Administrator. “This initiative marks a major milestone by TSA to provide an additional level of convenience for the traveler by enabling more opportunities for touchless TSA airport security screening.”

Seamless and Secure Experience

Driver’s licenses and state IDs in Wallet will provide an easy, fast, and more secure way for people to present their driver’s license or state ID using their iPhone or Apple Watch. Once a participating state begins offering this capability to its residents, customers will be able to add their driver’s license or state ID to Wallet and simply tap their iPhone or Apple Watch to present it to the TSA, without taking out their physical card or handing over their device.

  • Adding a driver’s license or state ID to Wallet: Similar to how customers add new credit cards and transit passes to Wallet today, they can simply tap the + button at the top of the screen in Wallet on their iPhone to begin adding their license or ID. If the user has an Apple Watch paired to their iPhone, they will be prompted to also add their ID or driver’s license to their Wallet app on their Apple Watch. The customer will then be asked to use their iPhone to scan their physical driver’s license or state ID card and take a selfie, which will be securely provided to the issuing state for verification. As an additional security step, users will also be prompted to complete a series of facial and head movements during the setup process. Once verified by the issuing state, the customer’s ID or driver’s license will be added to Wallet.
  • Presenting a driver’s license or state ID to TSA: Once added to Wallet, customers can present their driver’s license or state ID to the TSA by simply tapping their iPhone or Apple Watch at the identity reader. Upon tapping their iPhone or Apple Watch, customers will see a prompt on their device displaying the specific information being requested by the TSA. Only after authorizing with Face ID or Touch ID is the requested identity information released from their device, which ensures that just the required information is shared and only the person who added the driver’s license or state ID to the device can present it. Users do not need to unlock, show, or hand over their device to present their ID.

Security and Privacy

Wallet provides a convenient and more secure way to present driver’s licenses and state IDs, while offering superior security and privacy over a physical wallet.

  • Apple and the issuing states do not know when or where users present their IDs.
  • Driver’s licenses and state IDs in Wallet take full advantage of the privacy and security built into iPhone and Apple Watch. Customers’ identity data is encrypted and protected against tampering and theft. Biometric authentication using Face ID and Touch ID ensures that only the person who added the ID to the device can view or present their ID or license in Wallet.
  • Driver’s licenses and state IDs in Wallet are only presented digitally through encrypted communication directly between the device and the identity reader, so users do not need to unlock, show, or hand over their device.
  • If a user misplaces their iPhone or Apple Watch, they can use the Find My app to lock their device and help locate it, or remotely erase a device.

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What Is A Cryptocurrency Exchange And How Do They Work?

Cryptocurrency exchanges are online platforms in which you are able to exchange one kind of digital assets for another based on the market value of the given assets. A usual cryptocurrency exchange works 24/7, that is, it never closes. Making it more alluring to new and old investors.

An exchange performs as the liaison between a seller and a buyer or, to use cryptocurrency terminology, between a “maker” and a “taker.”

The top cryptocurrency exchanges make it straightforward to buy and sell the currencies you want with low fees and strong security platforms.

Best Crypto Exchanges of 2021

  • Best Overall: Coinbase and Coinbase Pro; Binance
  • Best for Beginners: Coinbase, Cash App
  • Best Decentralized Exchange: Bisq

Here’s What To Look For When Selecting An Exchange:

1. Research The Exchange’s Validity And Security

Careful research will assist you with selecting a secure and valid exchange platform. There are many scam exchanges that not only endanger investors to fraud, but additionally end up swindling new and less knowledgeable investors. Before settling on an exchange, find out if it can protect you from fraud.

2. Compare The Fee Structures

Cryptocurrency exchanges have various fee structures and transaction fees. Many people ignore this fact and end up selecting exchanges with elevated transaction fees, not realizing that they could have used a competitive exchange that offers reduced fees. An exchange that has tokens regularly has fewer transaction fees than those without.

4. Purchase Processes

Cryptocurrency purchase means differ based on exchanges. There are certain platforms which stipulate that investors to use ACH (bank) transfers or PayPal, whereas there are others that take debit and credit cards. While deciding on an exchange, look into how much time it requires to carry out your buy. There are some exchanges which processes trades instantaneously, while others can take anywhere from days to weeks.

5. Trader Experience

User friendliness for traders creates the best experience. When starting to trade cryptocurrency an exchanges operation system is a key element to take into consideration. Platforms with good trader ratings typically are higher when they have a system that is direct and easy to follow or learn. These exchanges attain the most growth in transaction volumes, making their market value higher. Some platforms provide traders with vaulting options, staking, and/or give out free tokens.

Types of Crypto Exchanges

To choose the best exchange for your needs, it is important to fully understand the types of exchanges.

Centralized Exchange

The first and most common type of exchange is the centralized exchange. Well known exchanges that are in this category are: Coinbase, Binance, Kraken, and Gemini. They are private companies which provide platforms to trade cryptocurrency. These exchanges require Know Your Customer (or Know Your Client) registration and proof of identification.

Coinbase, Binance, Kraken, and Gemini each have enthusiastic trading, superior volumes, and liquidity. Centralized exchanges operate on their own private servers.

These popular centralized exchanges are known for being the simplest starter places for new traders. On their websites they state that the provide some degree of insurance if their platforms are ever compromised. When cryptocurrency is purchased on these exchanges, it is stored within their custodial wallets but you can always transfer to your own.

It is suggested to withdraw any large sums and practice safe storage since the insurance that is provided is only valid if the exchange itself is at fault.

Decentralized Exchange

A decentralized exchange does not have central point of control. Working in the same manner that Bitcoin does. Think of it was multiple computers connected and if one of these computers turns off, it does not disturb the network.

A system that is extended and decentralized in this way is drastically more difficult to attack.

These forms of exchanges cannot be subordinate to the policies of any one governing organization, since no individual person or alliance is operating the structure. Members come and go, meaning that those trading on the exchange do not need to provide their identification with the option to use the platform (legal or not) in whichever method they decide on.

Article By K. Crystal Carter


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