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Mark Zuckerberg and Facebook Deliver Very Bad News

Meta Platforms  (META)

The performance of Get Meta Platforms Inc. Report is poor. The social media behemoth, which is the parent company of Facebook, Instagram, and WhatsApp, has been emitting ominous signals for some time.

Its market valuation has decreased by around $545 billion this year after it was kicked from of the top 10 most valuable firms in the world.

The market value of the shares dropped by $57.5 billion between July and September as a result of the third quarter's impending 15% share price decline.

Facebook Makes First Head-Count Reduction 

The billionaire addressed staff on Sept. 29 at Meta's customary weekly Q&A session that the company was entering a new phase characterised by slow development.

 This entails taking a number of steps, including freezing employment, restructuring some teams, and reducing budgets—even for teams in industries that are growing.

For instance, Zuckerberg advised staff that Meta should not replace departures and would let go of those "who aren't succeeding."

'Not a Lot of Light Until We Get Into 2023'

According to several analysts, who believe the company is facing significant challenges, Meta appears to have lost its bearings.

Very few 18 to 25 year olds still use Facebook; instead, they flocked to TikTok, he stated. So I believe you also have a problem with competition.

Recession, Tiktok Rivalry Threaten Ad Revenue

The money that Meta derives from its core Facebook advertising business is threatened by the economic slowdown and a potential recession.

The short-video platform TikTok has recently grown in popularity among brands aiming to reach millennials and Generation Z.

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