{"id":7838,"date":"2022-02-03T22:00:32","date_gmt":"2022-02-03T22:00:32","guid":{"rendered":"https:\/\/garfnet.org.uk\/cms\/?p=7838"},"modified":"2025-02-06T17:21:16","modified_gmt":"2025-02-06T17:21:16","slug":"facebooks-fortunes-on-the-turn","status":"publish","type":"post","link":"https:\/\/garfnet.org.uk\/cms\/2022\/02\/03\/facebooks-fortunes-on-the-turn\/","title":{"rendered":"Facebook&#8217;s fortunes on the turn&#8230;"},"content":{"rendered":"<p><strong>Social networking platforms come and go. Does anyone remember Myspace? or Bebo? Granted, Facebook has enjoyed a longer run than most. But today saw parent company Meta&#8217;s shares plummet by a staggering $226 billion. That&#8217;s the biggest one-day loss for any US company, ever.<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/www.theguardian.com\/technology\/2022\/feb\/03\/facebook-stock-shares-meta-mark-zuckerberg\">https:\/\/www.theguardian.com\/technology\/2022\/feb\/03\/facebook-stock-shares-meta-mark-zuckerberg<\/a><\/li>\n<\/ul>\n<p>This comes on top of news last month that a lawsuit to break up the Meta group can proceed.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.theguardian.com\/technology\/2022\/jan\/12\/lawsuit-aiming-to-break-up-facebook-group-meta-can-go-ahead-us-court-rules\">https:\/\/www.theguardian.com\/technology\/2022\/jan\/12\/lawsuit-aiming-to-break-up-facebook-group-meta-can-go-ahead-us-court-rules<\/a><\/li>\n<\/ul>\n<p>Not forgetting a class action lawsuit for $2.3 billion on behalf of 44 million British Facebook users, claiming that Facebook is, &#8220;<em>Exploiting users by taking their personal data without properly compensating them for taking that data.<\/em>\u201d&nbsp;<\/p>\n<ul>\n<li><a href=\"https:\/\/www.theguardian.com\/technology\/2022\/jan\/14\/meta-sued-for-23bn-over-claim-facebook-users-in-uk-were-exploited\" target=\"_blank\" rel=\"noopener\">https:\/\/www.theguardian.com\/technology\/2022\/jan\/14\/meta-sued-for-23bn-over-claim-facebook-users-in-uk-were-exploited<\/a><\/li>\n<\/ul>\n<p>And one should not forget the <a href=\"https:\/\/www.newstatesman.com\/science-tech\/2021\/07\/apple-vs-facebook-how-war-between-silicon-valley-giants-changing\" target=\"_blank\" rel=\"noopener\">ongoing corporate war between Apple and the Meta group<\/a> either.<\/p>\n<p>Personally, I vowed never to have anything to do with any product owned by Mark Zuckerberg, after I learned that that the jumped-up little squirt referred to his early users as &#8220;<a href=\"https:\/\/www.theregister.com\/2010\/05\/14\/facebook_trust_dumb\/\" target=\"_blank\" rel=\"noopener\">dumb fucks<\/a>&#8221; for trusting him. Facebook&#8217;s subsequent security breaches, its tolerance of far-right extremism and that disgusting business with <a href=\"https:\/\/en.wikipedia.org\/wiki\/Facebook-Cambridge_Analytica_data_scandal\" target=\"_blank\" rel=\"noopener\">Cambridge Analytica<\/a> reinforced my views.<\/p>\n<p>However, IMHO, the main factors in Meta&#8217;s downfall can be summed up in two words: &#8220;<em>Toxicity<\/em>&#8221; and &#8220;<em>Demography<\/em>&#8221;<\/p>\n<h2>Toxicity<\/h2>\n<p>What seems not to be widely understood is that Meta&#8217;s <em>users<\/em> are <strong>not<\/strong> its <em>customers<\/em>. Meta&#8217;s users are effectively its <strong><em>product<\/em><\/strong>. In Mark Zuckerberg&#8217;s own immortal words, its users are &#8220;<a href=\"https:\/\/www.theregister.com\/2010\/05\/14\/facebook_trust_dumb\/\" target=\"_blank\" rel=\"noopener\">dumb fucks<\/a>&#8221; &#8211; neatly trussed-up to have their personal details, buying habits and voting preferences extracted and served-up to its <em>real<\/em> customers, i.e. Meta&#8217;s <em><strong>advertisers<\/strong><\/em>.&nbsp;<\/p>\n<p>For many of its users, Facebook has become a vile toxic cesspit of hatred and human misery. Plenty of stories abound regarding how <em>toxic<\/em> Meta&#8217;s services have become. Worse, Meta&#8217;s customers also include the likes of Cambridge Analytica, often funded with <em>dark money<\/em> and\/or extremist political groups. Whilst certain wealthy hedge-fund operators seem to enjoy this sort of stuff, mainstream advertisers certainly do not.<\/p>\n<ul>\n<li><a href=\"https:\/\/www.thecanary.co\/trending\/2018\/03\/21\/behind-cambridge-analytica-scandal-dark-money-british-us-elites\/\">https:\/\/www.thecanary.co\/trending\/2018\/03\/21\/behind-cambridge-analytica-scandal-dark-money-british-us-elites\/<\/a><\/li>\n<\/ul>\n<h2>Demography<\/h2>\n<p>Then there&#8217;s good ole&#8217; <em>demography<\/em>. Facebook is increasingly regarded as <em>a site for old people<\/em>. It&#8217;s almost 20 years old itself. Its dull stodgy persona was neatly summed-up by UK IT mag <em>The Register<\/em> as &#8220;<em>Hotmail with knobs on<\/em>&#8220;. Unsurprisingly, it seems young people prefer the likes of <a href=\"https:\/\/tiktok.com\" target=\"_blank\" rel=\"noopener\">TikTok<\/a> instead. Though the expression &#8220;<em>out of the pan and into the fire<\/em>&#8221; rather leaps to mind in the case of TikTok. Nevertheless, advertisers inevitably <em>follow the money.<\/em> They want to get their grubby mitts on all that nice young <em>disposable income<\/em>.<\/p>\n<h2>The end?<\/h2>\n<p>Fortunately, it seems that an increasing number&nbsp; Zuckerberg&#8217;s users share my disgust as over a million have recently ditched Facebook. This is Facebook&#8217;s first ever significant drop in daily usage numbers. Hopefully it won&#8217;t be the last. I personally look forward to millions more enlightened Facebook victims ditching the platform in droves, as Facebook becomes as irrelevant as MySpace and Bebo.<\/p>\n<ul>\n<li>Meantime, those wishing to quit Facebook might find this helpful&#8230;<br \/>\n<a href=\"https:\/\/medium.com\/anti-social\/how-to-ditch-facebook-a-guide-part-1-hit-them-in-the-wallet-f8a505c0485a\" target=\"_blank\" rel=\"noopener\">https:\/\/medium.com\/anti-social\/how-to-ditch-facebook-a-guide-part-1-hit-them-in-the-wallet-f8a505c0485a<\/a>&nbsp;<\/li>\n<li>Though personally I&#8217;d advise you to ensure that you have the contact phone number and\/or email address of everyone you care about. Then simply close your FB account altogether. I&#8217;m sure it will make you a happier person. \ud83d\ude42<\/li>\n<\/ul>\n<div class=\"replyContent\">\n<p>In any event, for me, the Facebook question always has been <em>brutally<\/em> simple:-<\/p>\n<ul>\n<li><strong>Do I want to give my personal data, and that of those about whom I care, to a large foreign data-harvesting corporation, whose CEO described his users as &#8220;<a class=\"external\" title=\"This link will open in a new window or tab\" href=\"https:\/\/www.theregister.com\/2010\/05\/14\/facebook_trust_dumb\/\" target=\"_blank\" rel=\"nofollow noopener\">dumb fucks<\/a>&#8221; for trusting him?<\/strong><\/li>\n<\/ul>\n<p>The answer is an equally simple: <strong>no<\/strong>.<\/p>\n<\/div>\n<blockquote>\n<p class=\"said\" data-quote=\"luxtenebris\">&nbsp;<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Social networking platforms come and go. Does anyone remember Myspace? or Bebo? Granted, Facebook has enjoyed a longer run than most. But today saw parent company Meta&#8217;s shares plummet by a staggering $226 billion. That&#8217;s the biggest one-day loss for any US company, ever. https:\/\/www.theguardian.com\/technology\/2022\/feb\/03\/facebook-stock-shares-meta-mark-zuckerberg This comes on top of news last month that a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":7839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_kad_post_transparent":"default","_kad_post_title":"default","_kad_post_layout":"default","_kad_post_sidebar_id":"","_kad_post_content_style":"default","_kad_post_vertical_padding":"default","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[19,6,1488,18],"tags":[],"class_list":["post-7838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","category-journal","category-politics","category-technology"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Facebook&#039;s fortunes on the turn... - GarfNet<\/title>\n<meta name=\"description\" content=\"Social networking platforms come and go. 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