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.

Continue Reading

Luxury Brand Prada To Launch First NFT

Prada is releasing its first NFT in partnership with Adidas: a crowd-sourced digital artwork in a Beeple-style collage, in luxury’s newest iteration in the metaverse.

From 24 January, anyone can register to submit a photograph using a specially-designed filter, that will be manipulated, scrambled up, and 40 per cent of the image removed, so as to be anonymised. Three thousand of the individual photographs will be selected by raffle, and minted by Adidas as unique NFTs for free. The individual who submitted the artwork will remain the owner, able to sell their NFT on the secondary market. The selected images will then be combined as tiles into one mass patchwork NFT, designed by digital artist and creative coder Zach Lieberman. That one-of-one NFT will be auctioned online on digital art marketplace SuperRare, and displayed as a large-scale installation in Prada and Adidas flagship stores. The patchwork style is similar to Beeple’s $69 million “Everydays: The First 5000 Days,” which set a record for a digital artwork at Christie’s auction.

Continue Reading

Las Vegas Online Group Seeks Artists & Businesses: Increase Your Global Visability

Las Vegas Arts & Handmade Businesses is an online community found under the social network company Meta. The group features local artists, designers and hand fabricated business owners. But you don’t have to be a local to join, if you are one of the many from around the world who travels to the city this is a great way to stay updated on the latest trends, events, and unique finds.

  • Learn Business Skills
  • Promote Your Company
  • Track The Latest Trends

Recent Articles

Get new content delivered directly to your inbox.

Trade Accurately With A Cryptocurrency Investments Logbook

Trade cryptocurrency with accuracy and professionalism by documenting your purchases in the Cryptocurrency Investments Portfolio. 

Learn from your trades and earn more as your portfolio grows. As a trader, it is easy to forget how much you initially invested, making it confusing when determining how much you gained or lost. Write down your emotional mental state to monitor personal trading behaviors. The portfolio can be used by beginning and advanced traders of cryptocurrency.

Features:

  • Gloss Cover
  • 8.5 x 11 Inches

Get new content delivered directly to your inbox.

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


Get new content delivered directly to your inbox.