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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Business & Mental Health: An Entrepreneurs Series

The most valuable thing a person can have is their individual peace. With a clear mind you can accomplish nearly anything.

Over the last few years the term “self care” has been thrown into pop cultures vocabulary and associated with spa days for women, and talking to the bros for men. But the real conversation is still yet to happen on a authentic and widely relatable level.

When the topic of self care arises there is often a bullet point list of things to do to help you with your mental and physical health but no one dives into the unthinkable: mental illness and entrepreneurship.

It is said that the world needs more compassion when it comes to mental illness, but truth be told it’s a very complex experience for all involved. On one hand, we have the stigma of what it is assumed to look like when witnessing someone with a mental health impairment, and on the other we have the inside of the mind of someone with such diagnosis.

“If a tree falls in a forest and no one is around to hear it, does it make a sound?” is a philosophical thought experiment that raises questions regarding observation and perception. (Via Wikipedia)

If a man says he is depressed, but never is professionally diagnosed how serious do we take him?

We live in a fake caring culture where so much is politically correct that no one can decide what’s suitable to be correct. And when living with a mental illness it makes this complicated world even more complicated. Instead of admitting that there isn’t always a right or wrong answer we find ourselves debating over who received the most liked answers.

To respect one anothers differences it’s time to acknowledge that mental health self care is not monolithic. Especially when it comes to owning, running or developing a business. Discovering what helps you function with some type of normalcy takes some real deep diving into self discovery.

Managing a business is a challenge in its own, managing a business when experiencing depression, racing thoughts, paranoia, delusions, or mania is like a forced roller coaster ride. You know it will come to an end at some point, but during its intensity it feels like forever.

Therefore, how do you manage to manage? You dedicate yourself to yourself. For yourself. No one can help you better than the person in the mirror. If you want success as someone with a mental health issue you have to dissect your habits so that you will continue to understand your triggers and your best moments.

This plays out to be true for those who have anxiety but still seeks to have a profitable business despite their personal obstacles. And it can be done.

If your mental health is starting to affect your physical health, treat yourself like you are sick and take days off as needed.

‘Business & Mental Health’ will be a series of articles dedicated to the success of those who may struggle with the belief or willpower of winning due to a chemical imbalance.

Articles written are based on human experiences and events. Seek professional medical advice and attention as needed.

Best Regards,
Kadesh Carter-Menes

EarthyRealist.com

Maintaining Your Self-Esteem While On Social Media

In recent days, and according to leaked reports from 2018, it’s been reported that Instagram is considering “likes” count removal, according to prototype. It is said by some that it is to help increase engagement. “Instagram is trying to figure out how to put less of an emphasis on social media validation and wants to take a take a step back and allow users to focus on the content they post, not the number of likes.” Devon Hannan, via ALTPRESS.

We will just have to wait and see if the rumors are true. But, there is the concern of how does social media really make us feel about ourselves. Young users as well as adults.

We spend hours on hours as a global society using social media. For some it’s to stay in touch with family and friends. To see high school buddies nostalgic school photos, or from work outings you were tagged in included.

I personally use it for business and sometimes personal. Why is this? For me I like the fact that you can join groups of interest, local events are posted, and it’s free advertising. Your reasons may be different or even the same as mine.

In recent years there have been reports, depending on where the actual data is being collected, in articles that have stated that statistically the more people use social media the more they (may) become depressed.

Image Via Pixel

Never before were we able to pry into the lives of people we know or people that we have never met, and have a “like” button to approve/agree with that persons (digital) life story. Let’s be honest, no one sits up and likes every single persons posts of the people that they are following. Its too time consuming, and not everything posted is always interesting.

Honestly with the algorithm of social media you don’t even see majority of the people who you are connected with/following even if you wanted to.

Why even follow so many people? More is better to many. And even though there may be a friend or family member who you know that you never speak to online people still like having a high number of who all they are connected to. It just feels good for some to say “I have almost 5,000 Facebook friends.” (Who came up with that number anyway?) Hey keep in mind that this may not apply to you personally.

Not receiving likes, comments, or shares can bring up emotions of self doubt that you are not adequate enough. Jealousy of people you don’t even know just from their assumed picture perfect life, no pun intended. Desires to own a company that someone else owns, but not having any skill to do the same things. Conflicting isn’t it?

Social media is a great resource for networking, not a place to go to make you feel miserable.

In having companies over the years that I would share on my timeline I noticed that family members would like my posts based on other people’s interests (likes and comments) in my work. Never would they share to help spread the word of my works on their own. I recall in my early days of joining social media I even asked 10 family members and friends via Facebook messenger to share a post of the jewelry I designed to their pages. One person did, and she actually over the years would purchase pieces that I made.

It wasn’t that my pieces were not attractive, as I’ve shown in fashion shows, art galleries and boutiques, they just didn’t want to share. As simple as that. Seeing them post memes or other peoples businesses DID bother me. But years later I learned from a very successful entrepreneur who I interviewed that friends and family will be the last to support you. That’s exactly how it was for him as well.

You live and you learn. I began deleting people off of my friends list who I never interacted. This applied to anyone. Some people may think that this is the end of a relationship, but it’s really not. Going down from 2.5k friends to 150 (you read that right) has improved my networking and more people share my work because I share or like theirs. And I am able to focus on my business accounts/pages which each has their own target market. I’ve been given tickets to events from people on my smaller list, I can see and interact with business groups better which has increased my revenue.

Not having so many friends allows me to actually see what the friends I do have are posting. Some people will follow me still though I will not add them.

If someone is making you question yourself, delete them.

If you are going to be nosy (creeping on a persons timeline), but never will like or share someones content delete them.

If you feel that you are not supported by someone that you know in real life, delete them.

If you feel ignored after leaving comments, delete them.

If pages you follow no longer posts content that you find useful, unfollow that page.

Remember, you can call, email or text those who you want to stay connected to. Meeting up in person is always a good idea.

Image Via Pixel

Also, take breaks from social media. If you are an influencer or company, try the optional free version a platform such as Buffer or Hootsuite to create content that you can schedule ahead of time to post to your account(s). I use the weekends to set up my scheduling. You can also use this service for regular accounts.

Preserve your mental health and do not let society or social media dictate your emotions.

Best Regards,

Kadesh Carter