Topic: Facebook ("Meta") down 25% in a day (Read 432 times)

That is the way it should be, let users have control over their privacy and decide what they want to share or not, Facebook and other similar companies have predatory tactics on their customers, and this simply not right, they clearly invaded the privacy of anyone that had their apps installed, so I think this is a movement that was long overdue by Apple, I wonder if Android already did the same or if it thinking about it as this could also have an impact on Facebook and its finances.

One should be worried if for example they have investments on this company and they are seeing that the development is also about to stop. But it is not. I don't think Zuck will easily give up his FB project. So that's decline is indeed a very good opportunity for some investors who believe that this company has still a lot to offer. Because in time, they can easily gain their value in the market and you will be the one laughing at them.

I would assume that all those big name investors will probably be picking it up from these low prices and they would be very happy to actually do so. All these drops do not mean anything unless the company is not doing well in the long run. If there is something wrong with the accounts then I would understand a big drop but if there is nothing wrong then there is no reason not to buy it when it is at a such low level as well. It is clear to me that we are going to see a long term great increase from them so there is no point in selling right now.

There will always be big falls, 2008 was a big fall, march 2020 was a big fall, but it always recovers and goes higher. This is enough proof for us to believe that if you buy it, you will be able to get richer by simply holding it. Simply the same strategy as crypto as well, just buy when it is low, hold as long as you can.

We know that behind the meta are people who have influence and a very wide investment network, and not as few companies that have invested large amounts of capital. So when responding to the drop in Facebook's stock yesterday, which fell drastically, there may be overlapping investors who are trying to take unilateral profits. And when the stock sales drop is discarded, then we will see the next increase in Facebook's stock price will be real owned by long-term investors, no more investor hype.

I have similar thread opened >>here<<
What happen to anything that is so dependent on others? A day will appear that you will get denied oe that bridge and if you so depend on it, you will fall so hard that you can break easily.
That's exactly what happened to Facebook and other tech giants, they rely on personalized data to disperse Ads but the new IOS updates isn't helping the companies like then.
I like it though, give privacy power to the owner, allow me to give access to whoever needs it and if I don't, so be it.

But what good thing there is they have already a huge name which can cover up and make people interest became more wider and although they have competitor still they are leading since for sure investors will think about them first to invest next to their competitors. But I also believe that they will bounce back again once they settle all things needed to consider to completely make this project comes to reality.

There were too many things happening against the interests of Facebook which eventually lead to this drastic fall on the price of its shares, Apple changed its privacy policies which made more difficult for Facebook to serve ads, which is their main form of income, the economic crisis made that many business cut down on costs and this included advertising on Facebook, TikTok appeared and it is way more popular among the young stealing users from Facebook, so when we add all of this it is not really surprising that Facebook lost so much money so quickly.

Personally, I don't see anything special about Facebook's stock dropping 26%, as stated in the information and your source. Why is that? The fact is that any drop in prices for shares or other assets says only one thing, that someone sold the shares and cashed out. But more interesting questions, who did it and why? for example, not so long ago, shares of other well-known American companies, such as Elon Musk's Tesla, fell in price. Or maybe the guys are just withdrawing a little money from their companies because they know something not very good? Well, for example, the fact that soon the United States will stop financing such companies by printing new money, which may affect an even greater fall in prices for shares of companies. If so, then not very good events await us in front of us, including for the crypto market.

Who told Mark Zuckerberg to come up with that semi-bald avatar of his while doing that Meta advertisement. I think most people already associate his image with that of a defiant billionaire who had no qualms about the privacy policy of facebook or the incidents like cambridge analytica. They never formally apologized to the users and then their next best idea was to actually surround people in a make-believe world so that they could have more attention than just visual and auditory.

I am glad that the market reacted this way. Nobody uses facebook and then you go around and use a plagiarized name. Could they still go back to calling themselves facebook?

Actually there are two big competitors are being more effective the first one if Google which includes YouTube as well and the next big one is Tiktok which is actually bring the short video concept and became successful big social media all around the world so Facebook is not getting much ads as before so they are not growing as they expected and everything happened suddenly when investors tried to pull out some money.

I don't think Facebook's one-day plummet is because of that, else we would have seen many other companies' stocks dropping in sync, but that isn't what happened. 

I'm also very confused as to what the real economic situation is.  You say it's weak globally, yet all around me I see businesses that can't find employees.  In addition to that, there seems to be a lot of people with an abundance of cash to spend on frivolous things such as NFTs--plus the stock market is still headed upward.  So nah, I think Facebook's stock drop has everything to do with how investors see them and their prospects for the future.  Social media is a relatively new thing, remember.  Younger members might not remember a time when it didn't exist, but I sure as hell do.  There's no telling whether FB is going to remain dominant in the space or even if they'll remain profitable.

I think they are actually preparing it, to become a pioneer, innovation is needed even though they is only changing the name or from the cover side first.  Their new ideas and ideas were enough to make them the first to attend.  But again, the competition is very promising and competitors are very ready to compete.  So who is in charge, they as the pioneer of Metaverse.

Well maybe they are not prepared for transitioning to Metaverse that's why they struggle that far and in result their share drops and create a huge news among their investors. But I believe all will settleback knowing we are talking about facebook here so for sure they can recover those losses knowing that they are a huge company which many willing investors would love to catch those dips.

This is an opportunity for investors to enter and buy up Facebook shares, I think what is happening to Facebook today is because of the tight competition among social media companies that are currently growing, besides the large number of user data leaks that have resulted in a decline in daily Facebook users what happened was quite significant, so it is clear that this makes Facebook valuation value also decline in the market, reportedly the loss that Facebook is getting is now the biggest loss for a company in America so far, But to be honest, if you look at the magnitude of the influence of Facebook in today modern era, of course decrease it will not last long and maybe they will be able to bounce back in the next few weeks.

The concern is whether the agreement to change Facebook to Meta is actually a wrong decision? because after all when Facebook has not evolved to Meta stability is still fine. In addition, the current hype is also unstoppable, while investors only take advantage of temporary increases to take profits. So it's better for Facebook to stay on social media, which is nothing more than that so that financial stability doesn't drop like this. We all know Hype is being targeted by anyone to raise money and if Hype is finished then inevitably the disposal will be clearly visible.

It's a price drop, users are getting out of Meta so yeah I think that it's definitely a price drop. Metaverse is pretty janky so people don't really buy that it's the future and not to mention that virtual reality rooms have been a thing for a long time already andd Meta introducing Metaverse didn't generate enough hype.

So this could be one of the reasons why Facebook stocks has dump massively the past days. I just learned about the apple issue today, but I already foreseen the possibility that facebook would go downtrend because it is having a hard time staying relevant nowadays that there are already more social media platforms blooming as well as other means of entertainment for the youth and adults to enjoy. I really think it is one of the major reasons why Facebook's stock is declining aside from the usual dump they experience way back. Right now, a lot of competitive and enjoyable applications have been surfacing and most people really patronize it. The number of active users and new users aren't really going up because they are already diversified in other platforms that could keep them entertained and at the same time, updated. I bet Facebook have also predicted it is going to happen in the future which in this case is now. That is why they decided to rebrand the name to Metaverse and have so much plans about projects about it in the future at hand. This could be their way to stay relevant despite the competition and maybe to garner more users in different brackets. I also don't have any idea how Metaverse would work in the future but I hope it's good enough to sustain the economy of Facebook.

Indeed. The losses for Facebook are not a big deal because the Facebook team will try their best to recover from the down. And as a big company, maybe Facebook is already researching why that can happen because their team will make sure that nothing worst happens to them.

After all, Facebook is still a big company that will not let anything stop them from achieving what they want. Facebook can handle those things and recover their losses so there is nothing to worry about.

Personally, I still feel that Facebook is doing well. Currently there is no social media platform that we can say is bigger than Facebook, because these guys own all the big names that you hear in social media space, which includes Instagram, WhatsApp, and Facebook itself. All these three social media platforms combined pulls a greater weight and is bigger than every other social media platform so far.

Having a bad market day isn’t something so serious, because it does happen. In every business there are times that they do experience loss, but as time goes on it picks up immediately. So that Facebook is losing 25% today doesn’t mean that they won’t be recovering the next day or so. So this doesn’t seem like a big deal to me.

IMO, the most plausible reason related to the losses experienced by Meta and Facebook is the increasingly competitive and innovative competitors such as TikTok and the privacy policies implemented by Apple.

And for now, the reason why quite a lot of people are selling their Meta shares is that the "hype" of the Metaverse has disappeared and not many people are interested in getting into this world of Metaverse. And also what Meta displays on their platform does not match the expectations of the users, so many people are disappointed.

Currently, most Meta investors are looking at this platform in the long term because of course the Metaverse technology will evolve. And it is estimated that Meta stocks will be heavy to rebound shortly (https://www.forbes.com/sites/sergeiklebnikov/2022/02/03/facebook-faces-an-existential-moment-after-230-billion-stock-crash/?sh=7e4e7906359b).

The reason why stocks like Netflix, Snap, Facebook, Amazon are trading like altcoins these days where they have 20-30% days which is unheard of in the stock market world is due to the VIX and liquidity.

VIX is just the volatility index. When stocks go down, they go down faster than they go up. So this is related to liquidity. When VIX is up the liquidity is down. Which is not ideal. Because there are less bids and more offers and we got these crazy 25% down days.

Can't really call it price drop if you look at the chart in the long term because if you check it during the last 10 years of the market you will see this can be considered just as a little break, so that's not a big deal for the long term investors and the price movement is still uptrend in longterm but in the hand, the price did a sharp movement to lower price level I would say the Meta-metaverse  can be the reason for it there should be a relation between these two, but the most interesting thing for me during these price movements in centralized markets is no matter if you are talking about a big market like Facebook or small market like a newcomer altcoin there is still the chance for both cases to lose the price sharply only in one day.

What's interesting (and bizarre at the same time) is that META real estate prices are going up. If that's not proof that we live inside a simulation, I don't know what is XD. It seems to me that FB is just getting overrun by competition that is appealing to younger generations. I mean, FB always seemed like it's meant for the older generation, even tho it overthrew MySpace, it did at a time when MySpace users got older and grew away from that platform onto the next one that actually brought together not just people from the previous platform, but also people that never got into it in the first place. Now FB is facing a similar situation, it's just getting outgrown by its users.

TikTok is owned by Chinese company ByteDance, not by Facebook/Meta.

It's existed since 2014 and is used by millions of people in hundreds of countries. Fortunately, it is beyond the scope of a single government to shut it down.

All the more reason to be using an app which is open source and community developed such as Signal, as opposed to a closed source proprietary app like WhatsApp.

I wonder how long this will last, because the authorities do not like the fact that there is an app that is an ideal platform for secret communication of bad people (of course, eternally present terrorists) that they can not control. I sincerely doubt that such an app can exist in today's world without in some way cooperating with one of the most famous security agencies.

In case we go back and look at how the Signal was actually created (with whose money) then we see that these are the same people who have connections with FB or WhatsApp. I may be wrong, but if someone lends someone $50 million or even double that amount, that money must be returned somehow, of course with the corresponding profit. It reminds me of how the FBI tricked hundreds of criminals around the world with its anonymous app that was supposed to be secure and impenetrable.

Even though Facebook's stock fell but Tik Tok users actually went up, even though it couldn't cover Facebook's decline, the decline in assets that occurred was very significant. but this is how the market is, with this decline there will certainly be a time for a bullish trend, so that in a short time an increase in assets can occur. I think this is a normal occurrence

Smart investors will surely view this as a good investment opportunity because at the end of the day, The company is still "Facebook" which pretty dominated the social media industry with all it's subsidiary social media apps company like tiktok and instagram. This 25% loss is just a result of the current economic weakness globally. I'm pretty sure they will bounce back strong as soon fear is already clear. Only facebook bashers will gonna celebrate about this minor down fall.

Lol obviously it's not good for them, but it's not as uncommon as you think.

You might want to look at the numbers instead of making assumptions: https://s21.q4cdn.com/399680738/files/doc_financials/2021/q4/Q4-2021_Earnings-Presentation-Final.pdf

The metaverse thingy sure is a huge bet, but they're definitely nowhere close to dying.

Not a good time for any tech stocks.

When interest rates are rising, there is a tendency for these companies to sink to the ground with their PE ratios.

I would say that they are pretty fairly priced, though. They still have some of the best employees out there and a vast abundance of information, so this could potentially be a good entry point for investors.

It isn't weird at all if those "others" (like Facebook) are pure fucking evil incarnate.  Sure, that might be my overwrought opinion, but I know I'm not alone in holding it.  Even the inception of Facebook involved deception on the part of Mark Zuckerberg, hence the lawsuit against him by the Winklevii twins--and everything the company has done since then has been geared toward gathering data on people and working with the government to censor views that differ from those in power--just check out this video for one example.  Ugh.  Personally, I'm one of those who'd be happy if FB went belly up.

Word.  I can't remember exactly when MySpace lost the face to FB (and I'm too lazy to look it up), but I think it was just before mass data collection and selling of said data became an enormous issue.  But I can't imagine that if MySpace had emerged the winner of the duel that they'd have acted any differently; selling that data is tremendously lucrative, and neither MySpace nor FB were conceived out of charitable feelings, if you know what I'm getting at.

Say what you like about MySpace, but at least they never sold your data to third parties and governments and spent millions lobbying against privacy laws.

There's already a better chat application. It's called Signal. It does everything WhatsApp does and more, is free, open source, fully encrypted, supports voice and video calling, and won't spy on you or sell you out to governments like Meta will. Literally the only reason people ever give for not using it is because "All my friends use WhatsApp". So convince your friends to switch. Why would you willingly choose to be spied on?

Nokia was basically the only mobile phone people wanted to have at one time. I am not saying that Meta products will be gone or anything, all I am saying is that they do not have some sort of superpower that keeps them high. Facebook is used, that's true but it could be replaced by something else, instagram is used and I doubt it would be gone anytime soon but in the future, 5-10 years later, who knows?

Whatsapp is great, people still use it every single day, but who knows? Maybe in 10 years a better chat application will come out, I prefer telegram over whatsapp for example. All in all I have to say that there is a good amount of situation where we could see Meta going bankrupt, doesn't mean it will happen, it just means Meta is not untouchable.

That's weird if someone is happy with the fall of others but i think the one that is happy the most are the owner of the rival company because they can now finally won the competition but the users of the platform were sad because they cannot access their accounts again and it looks like the karma have finally come to facebook. They are now doing what they can to be able to save their beloved company.

They even changed its name because they think people will embrace it but it seems that it was still not enough. On the other hand I do not think paypal is also going to die because there are still users of it and bitcoin or cryptos is not yet accepted on most online stores.

The rebranding itself would have been meaningless if it not were accompanied by a declaration of Zucky saying that they will spend 10B in becoming the Metaverse company. Perhaps the declaration or the rebranding in standalone would actually not given enough confidence, let's see if they put the money where their brand is as promised (to themselves mostly).

If you think of it, there canno tbe an universe without a mean of exchange and some short of in-built economy. A tax on that (e.g. owning the coin) is a tax on growth in the purest W. Buffet style.

But losing 25% of their company value in few hours isn't not a joke though!

Anyway Facebook realized their platform is becoming ghost day by day that is why they moved to the futuristic vision so called metaverse which is still far from implementation hope it will save Mark and his co.

Facebook has remained muted in giving further information on privacy policy and it implementation.

This is one of its greatest fear now, some say it loosing users due to the rush on tik-tok but metaverse remained controversial as Facebook tend to loose stand in the nearest future to metaverse and its meta is part of its own research towards metaverse.

While it doesn't show the age groups that constitute their Daily Active People (DAP) indicator, here's an interesting side from their latest Q4 report[1]:




Do note that these numbers are only regarding Facebook and do not include other products of Meta (Instagram, WhatsApp, Messenger, Oculus...). A good article that explains why Facebook is considered a high-growth company can be seen here[2] but, in sum, anything that shows that Facebook isn't growing as expected is bound to generate a market behavior such as the one we've just seen...

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[1]https://s21.q4cdn.com/399680738/files/doc_financials/2021/q4/Q4-2021_Earnings-Presentation-Final.pdf
[2]https://medium.com/@10xre/facebook-the-story-of-a-high-growth-company-b8ad6f0793d6

Interestingly, no one wrote that FB failed or died, which is written for Bitcoin in the past two weeks intensified, and in the past 10 years with more or less intensity. When an investor loses 25% overnight on a stock then we pretend it is part of a normal investment, when he loses 10% on Bitcoin then he is a fool who fell into the Ponzi scheme.

For me personally, that company is almost worthless, but someone from the US intelligence community once said that it is the greatest tool for gathering information voluntarily - something like "we used to force people to tell us something, today they do it quite voluntarily". I wonder how Cuckeberg felt when he woke up in the morning and discovered that his personal shares were worth as much as $32 billion less than the day before

Investors were not impressed with the "metaverse" thing that brings nothing than a childish dream. The experience wasn't good, the graphics suck, just a bit better than minecraft. This VR thing will not be mainstream, as long as the device still using a small TV in front of the user's eyes and the environment isn't fully 3D. Probably 20 years from now, we may have the technology to do proper VR. Investors just don't want to wait that long. Moreover, the FB et al. advertisement revenue isn't doing well because of recession.

Would be glad to include such statistics for a particular period of time bout this coz there are lots of younger people here in my country uses facebook more than any social media websites and lesser percent for older ages.

Edit: Found this from statista^[1], 25-34 seems not an older age to me.

[1] https://www.statista.com/statistics/376128/facebook-global-user-age-distribution/

Are we forgetting that billions of people worldwide are still using Meta Platforms' products lol? They literally just had a single bad quarter and people are already calling for their obsolescence lmao this can't be serious.

Facebook is going to be the next Nokia? Or atleast that is what people compared when this incident happened and probably they are right too. Also Facebook blamed Apple company for their advertisement revenue loss still we can't deny thw fact people are losing interest on Facebook and probably Facebook os surviving with WhatsApp and Instagram.

There is a lot of air built into the share price of these so-called "FAANG" companies, but it's very easy for them to deflate the second growth starts to slow or tumble. People are buying such companies with the hope that they continue to grow at 10-20%, which would help make the sky high valuations more palatable in a year or two. It's unsurprising to see such a reaction, but Facebook seems to have a few other problems going on - Apple adding restrictions recently will put a dent in the mobile advertising revenue and there is a lot of bad press about Facebook & Mark Zuckerburg recently, hence the name change to "Meta". They are also trying to pivot into this metaverse thing, which could drain a lot of money and nobody is quite sure how it will pan out, an all round recipe for disaster really.

FB lost users for the first time and they heavily invested in the future of META which don't look like a good bet to me. All I see is a dead company which refuses to acknowledge its status. Companies rise and fall all the time. People cheered up a lot when Myspace died and FB took over... Guess what, FB is not invincible neither. Something else is killing FB. (Tiktok?) Paypal is also dying and leaving lots of sorry af bagholders behind.

There are too many of those overvalued companies in the markets. One down, many left.

I remember this news, and it's a very valuable lesson for crypto users: no matter how big the market valuation is (or, in case of a crypto, its market capitalization), the price can drop significantly over panic selling, and no amount of institutional investors can fix it. And it happened over something as stupid as lower growth than expected! So it wasn't even anything major, and even the revenue was there. The price hasn't recovered, by the way, and actually continues falling. It's now -32% from a month ago, and -34% from 6 months ago. Bitcoin, in comparison, is doing way better.

Just by seeing how facebook and IG trust on trends and all, they are bound to be overtaken sooner or later. Just by doing a bit of searching you will be able to find out that there are a lot of people that has stopped using facebook and Instagram and same goes for stock holders. Just so happened that the downtrend triggered the ALREADY existing fear factor. Big stock holders aren't dumb so to not see a huge plummet coming, and so the domino effect took place. It's not beyond recovery though with proper marketing, it's just that it won't be as easy as before when facebook was on top.

This will hurt Meta in the short-term, but it most probably won't hurt it in the long-term based on its historical performance. They have been trying to reinvent themselves again and again in order to get rid of their anti-privacy image which clearly isn't working yet.

Personally, I was never a Meta addict since I am not obsessed with social media and I don't really care much about this site to be honest.

I fully appreciate I'm not exactly in the right demographic here, but it seems the trend now is for "instant content" on platforms like SnapChat and TikTok. The people I do know with Facebook accounts only use them to find local businesses or sell things on the marketplace, and no one actually cares about posting content on it anymore. Hopefully this is an ongoing trend and Facebook continues to lose users. The sooner it fades in to irrelevance the better for everyone on the planet.

It's also revealing as to just how much Facebook thrives on spying on you and selling your data when a simple privacy change from Apple can have such a massive effect on their share price. Make no mistake - Facebook aren't a tech company; they are a data mining company.

It's the same thing that happened with Netflix - the stock was priced with an assumption that the user growth will hit certain targets, it failed so the stock crashed. Facebook knew this is going to happen, probably years ago, which is a large part of the reason behind their recent rebranding. Facebook userbase has been growing older and older, what started as a site for college students turned into a site for middle-aged and old people, and there's nothing Facebook can do to get the younger generations back. The much-hyped metaverse is also a part of their plan to diversify their userbase.

While it's definitely a mixture of multiple things, I'm guessing that the reason for the huge drop was mostly this metaverse thing. Institutional investors like predictable growth, whereas this metaverse bet brought a lot of uncertainty on how much revenues the company will have in the future.

I think that Facebook has come to a point,after which it's going to fade away slowly.
How many people around the world have a Facebook account?A few billion?There's no room for growth and Zuckerberg realizes that his company will have to focus on other projects,in order to stay relevant.
The Facebook stock was pretty overvalued and such 25% dump was pretty much expected.
I don't think that Zuckerberg is going to get worried about the stock price dump.
I'm not a big fan of this metaverse thing,but I'm sure that it's going to get really hyped in the upcoming years.

May I add a bit of information regarding this drop - it mostly boils down to two (huge) factors (that I'm aware of):

• Apple recent privacy changes[1] - Facebook business model is all around advertising and sell you what you need / want. If they are no longer able to track you - which was something that Apple implemented by allowing their users to select if they want to be tracked or not[2];
• For the first time ever, Facebook monthly active users remained flat and the daily active users decreased in the time period between Q3 and Q4[3]. Since Facebook wants to grow and attract new users whenever it can (again, to fuel their business model), investors saw this as perhaps a warning that Facebook may not grown as expected in the upcoming times.

I'm a bit skeptic regarding the recent project that Meta has entered - the so called metaverse - and how it will pay out in the future. They already spent $10 billion[4] on it and I'm unsure how they wider audience will embrace this kind of technology. I guess it remains to be seen...

PS: This drop in price is also considered the biggest wipeout in US corporate history - In one single day $240 billion[5] simply were erased from the company stock value...

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[1]https://www.nytimes.com/2022/02/03/technology/apple-privacy-changes-meta.html
[2]https://www.nytimes.com/2021/04/26/technology/personaltech/apple-app-tracking-transparency.html
[3]https://techcrunch.com/2022/02/02/facebook-isnt-growing-anymore/
[4]https://www.nytimes.com/2022/02/02/technology/meta-facebook-earnings-metaverse.html
[5]https://www.businessinsider.com/meta-q4-earnings-largest-ever-one-day-wipeout-190-billion-2022-2

That's a pretty big drop in price, but if you look at Facebook's 10-year price chart it really doesn't seem so bad--especially since the stock will probably recover in no time:



I'm not even sure why single day performance of any stock is newsworthy or why in a market like today's where pretty much every stock is overvalued everyone is looking for explanations.  Honestly, I'd say the S&P and NASDAQ are both due for a 26% one-day drop.  This has been the longest bull market in stocks ever if I'm not mistaken.  I remember when it started, too, right after that massive crash and subsequent recovery in 2009.  I'm sure there are a lot of younger members here who weren't old enough to care about something like that, so that's one hell of a sustained bull market!

But these kinds of markets never last forever, not in stocks, not in crypto, not in any market.  And with a company like Facebook, which hasn't been around as long as other companies with massive market caps, volatility like what we saw on Thursday is kind of to be expected.

AFAIK, they still got the Meta-metaverse project but about Libra, as linked above it's no longer going to pursue. This dump that has happened to Meta can be compared to bitcoin and those that have been talking drivel about bitcoin for being volatile, welcome to the reality in the stocks.
And with this news[1], there goes the Amazon enjoying their highest gain, breaking Apple's old record of $181-B gain in a day.
[1] Amazon surges with record $190 billion gain in value

According to the above link, Facebook stock plummeted 26%, I have not been following stocks but this is surprising.

This could be off-topic post, Facebook or Meta or what have you has pulled off from Diem or formerly called Libra project and sold it to Silvergate Capital Corporation

Mark Zuckerberg’s stablecoin project Diem officially shuts down
Vale Diem: How Facebook’s ambitious stablecoin project came to an end

I totally agree to this if I get you correctly, Meta will not even only be for Facebook, life is competition.

Also off-topic post. About this Meta, I have seen signs of self-centeredness (never mind, I could be wrong), changing its name to Meta to create Metaverse.

https://www.cnbc.com/2022/02/03/facebook-shares-plummet-22percent-after-reporting-weak-guidance.html

If I told you this was going to happen the day before you would have thought I was out of my mind, yet there it is. All it took for Meta (previous known as Facebook) to wipe out one quarter of its market value was to have less than expected growth in number of users. I never had much faith in Facebook particularly if you compare the trendy type of business with something like Amazon, Google or Microsoft who do not depend as much on staying fashionable.

Now, there is an opportunity if Libra or something similar comes out and their version of the metaverse works. Hint: They are going to have to reinvent themselves and face a fierce competition.