‘Meta’ loses $500 Billion After Re-branding

Is Facebook Going Down? Probably not.

‘Meta’ loses $500 Billion After Re-branding

Austin New, Writer

After its rebranding last year, Meta, formally known as Facebook, has lost $500 billion. 

Late last year, Facebook changed its parent company’s name to Meta, a nod to their new Metaverse venture. The Metaverse, for those who are not in the know, is a large online platform where people can talk to friends, play games, etc. It’s the new version of social media, kind of. However, it’s nothing new. Rec Room, VR chat, and even GTA Online can be seen as metaverses, as you create a character and can live a life different from your own.

The difference between these “metaverses” and Meta’s Metaverse is that it’s still Facebook, the king of stealing data and mental illness.

However, that may all change. Meta has lost a ton of money, for multiple reasons.

For one, the platform Facebook had lost around 500,000 daily users in Q4 2021, a first for the platform. Because of this, Meta’s stock price went from 336.35 points at the beginning of the year to 202.08 as of the writing of this article and is expected to fall even more. 

Secondly, Meta’s main source of revenue, their collection of their user’s data, is in jeopardy. Google and Apple have begun allowing users to “opt-out” of data collection.  This spells bad news for Meta’s huge data collection, which takes users’ data so they can show you personalized ads. 

Personalized ads work like this: You look up “Best Air Fryers for under $100”, Facebook sees this and will give you ads for Air Fryers. Some have even reported that Facebook even listens to their conversations, often showing them ads for things they have not searched online, but merely talked about. 

Facebook knows this, and has done everything short of begging its users to turn on data tracking to “keep Facebook free”. But, do take my advice, reader. If you use Facebook (for some ungodly reason) or Meta’s other platforms, such as Instagram and Whatsapp, or any other free platform that tells its users it may have to go pay-to-use, call them on their bluff and do not give in. Oftentimes, going paid will be detrimental to their platform. It’s an empty threat. 

Even though Meta lost money last year, it is unlikely it will ever go away. They are one of, if not the, biggest media companies in the world. There are places in the world where the term “Facebook” and the “Internet” are used interchangeably. So yeah, don’t be too worried that Meta/Facebook is going anywhere. In fact, with the advent of the Metaverse, I would be more worried about the fact that Facebook is here to stay…