IPFS News Link • Business/ Commerce
Facebook Is Learning That You Reap What You Sow
• http://theeconomiccollapseblog.com by Michael SnydBut if you treat people like garbage long enough, it is going to bite you in the rear end. Executives at Facebook apparently thought that they could viciously shut down free expression on their various platforms without damaging their financial performance. Well, they were wrong. Vast hordes of really good people have been leaving Facebook and Instagram permanently, but for a while growth from overseas was balancing that out. Now overseas growth is drying up, and the latest numbers the company just released were do disastrous that it caused a violent reaction on Wall Street. In fact, Facebook just had the single worst day that any company has ever had in the history of the stock market…
The 26.4% wipeout in Meta Platforms, as Facebook's owner is now known, erased more than $230 billion in market value, easily the biggest one-day loss in history for a U.S. company. The stocks of other social media companies including Twitter and Snap also fell.