Mark Zuckerberg’s Facebook Post Cost Him $3.3 Billion

Mark Zuckerberg’s Facebook Post Cost Him $3.3 Billion

Even though he dressed the decision up as a way to be socially responsible (and, to be fair, I think that is indeed part of it), the changes he's making may actually attract back users who have all but abandoned the site. Like me.

In addition to the privacy nightmare, which I work hard to keep in check, the main reason I stopped using Facebook is that I'd open it and there would be a 5-mile scroll of shit that I couldn't even figure out why it would be in my feed. I'm an expat. I use Facebook to kind of keep tabs on what friends and family in the US are up to. If I go there and all I see are a bunch of fucking inspirational videos and sketchy news articles, then the site does not fulfill its purpose.

I find that if I actually want to find out what a friend is up to, I have to put them in the search field and go directly to their page. I will never see most of what they post. Instead, I'll get a hodgepodge of out-of-order nonsense.

Just... It's a shitty site that is annoying and useless now. If he can return it to a list of all my close friend's goings-on, I'll use it more.

How tragic for him to only have 74 billion now!

Same. I don't want to see news posts on Facebook - i just want to see posts from friends and family

All i see when I open that disaster of a site are ads for things I dont want, and political posts from people I don't need.

I think they are suffering more than thry will let on, when it comes to changing their models.

"...cutting Zuckerberg’s fortune to $74 billion"

The poor little thing... I do hope he has enough to survive the winter.

I dont know why Zuckerberg is getting so much hate here. He is actually trying to make a change to Facebook to make it better for its users and so they dont get bombarded and brainwashed by bullshit coming from the big corporations.

The stock went down because this change is going to make Facebook better for users at the cost of corporate stakes and ad revenue - yet people are hating him because he has money?

Yup, I logged out a while back for the same reason. Every time I viewed the site, it was bullshit I didn't care about. I rarely saw posts from the people I did care about. Eventually I just stopped caring and stopped visiting. I think Facebook has noticed the number of accounts who have dropped off in the last year...

I thought you were joking. Holy hell how is that possible?

Heaven forbid a social media site be geared towards social media

Zuckerberg: I'm gonna fix facebook

Investors: There's something wrong with facebook!?! sell sell sell!!!

Not actual money. His worth is 74 billion but if he actually tried to cash out all of that it would naturally fall

Don't forget frivolous fucking status updates on myspace-esque backgrounds.

I'll give you a hint why: no one actually read the article to see why he's lost money.

Oh heavens, won't somebody think of the shareholders!

The other thing that facebook does that drives me nuts is that if my friend comments on or likes a post it'll show up my feed as "John liked this post" or "John commented on this post". And half the time John's comment is just tagging someone that they thought would like the post, I don't care what John is sharing with his friend that I've never even met. Facebook, if John had wanted to show me that post he could have, why are you showing it to me?

I actually disagree I no longer use Facebook as is because it's frankly a bit of a shithole but I use messenger because it's a very easy way to access friends and create group chats.

Hear, hear.

I only found out someone was pregnant yesterday. I was confused why I hadn't seen anything about it, so I went onto their profile and looked.

Turns out she's 6 months along, and there were posts almost weekly about her and her baby. Somehow, I hadn't seen anything about this even though she's been posting for 3 months straight about it (announced when 3 months along).

Thank god I've seen the same copy-pasted straight from reddit without credit shite though.

Usually when people talk about bubbles they are referring to assets whose value is not based on anything but speculation. The expectation that past irrational growth will continue. Etc.

FB, Google, Microsoft, and Apple all have very boring and mundane stock price vs profit ratios these days. This is not the early 2000s where unprofitability is chic.

I'm 39, and maybe don't understand Fb as much as the rest of you. But I've only ever see like 5 post from People on my friends list, then an ad and repeat another 5 post from friends. Where do people see all these news post etc at? I've never seen one.

Facebook also enjoys an online advertising duopoly with Google with no signs of potential antitrust intervention. Honestly I don't see how feed changes affect their bottom line as they ramp up the data mining of people's messages and interactions with each other better for more targeted advertising. Lower quantity of ads sure, but with a higher clickthrough-rate? Could be even better. All while making the platform at the surface level "better" because there's fewer ads? Increasing the amount of time people spend on Facebook? Could be a win.

Tech stocks are a crazy bubble right now.

People like to share articles to their news feeds and what not and it becomes clutter. That's my guess I haven't used Facebook in like 3 years

This is true for pretty much every billionaire if I'm not mistaken.

This would be fantastic. Next could they please merge the messaging back into the main app.

C'mon. That's about as dumb as having a Music Television channel that plays music videos.

The bubble didn't pop. Their user base left them. You wouldn't say the Apple bubble popped if everyone switched to Android. You'd say they lost a step in their business. That's what happened to MySpace. A better business came along

That's the issue.

If you don't keep it currated to your current interested and friend group, it's machine learning gets fucked up.

People who got into it in highschool and middle school don't give a shit about the 400-2000 "friends" they used to covet so dearly.

People who didn't actively keep following/unsubing from new people and old pages will not care that a kinda-cute-kid-i-knew-in-11th-grade liked her 3rd husband's opinion on some out of context quote from 2 weeks ago.

Stepping away for just a half year makes it a major pain in the ass to use and get back to what you want, and a lot of people at that point have already gone 5.5 months without caring, so what if they don't go back.

And the good damn adds. Holy shit. Every 3 posts, even with an ad blocker. Source: personal experience.

This is why i like instagram now just photos of what my friends find interesting a couple ads and a couple random meme pages I find funny to look at while I poop

I like Instagram, but the ads are just obnoxious these days, it's like 1 every 3 posts.

Because it is iconic of the wealthy, and for good reason. 80% of the stock market's value is held by people at or above the 90th percentile in income. The actual breakdown works out like this:

Top 1%: 40%

90%-99%: 40%

Everyone else: 20%

It would be reasonable to conclude that the non-rich don't invest.

Exactly. And besides the clutter, I’m now expected to rank my friends and family to see which one first. How about I see who last posted, in chronological order, in real-time? You know, like they used to have it?

It’s hard to choose. I don’t have a huge friend list so I would like to see what everyone is posting. Instead I get bombarded with one person’s last 5+ posts in the past week getting top billing over everyone else. It’s not working right and it’s frustrated me right out of using Facebook altogether.

Edit: mobile spelling fixed.

Every person out there who has an index fund their 401(k) is affected by this.

it looks like there was a larger drop in NOV/DEC

Who cares about Zuckerberg? It also cost stockholders 4.5% of their investment.

he might have to settle for 5' high walls rather than 7' ones next time he wants to secure his privacy from the prying eyes of the natives whose aboriginal lands he hijacked

Their sorting algorithm is also stupid. It shows you "recent" posts from a select few people that are from days ago. That isn't "Recent" Facebook! Before their stupid news feed turned into random shit post central, at least it kept things current.

I'm pretty sure he's just ramping up for a presidential run.

Messenger is so annoying

This will fix that. https://en.wikipedia.org/wiki/UBlock_Origin

Not Gabe Newell..

If you make a text post, you can pick a background if you want. Basically makes the post some kind of 'picture of text' post. It's as pointless yet annoying as it sounds.

Except the change he is talking about, by in large, is what exists now. You only see posts from your friends that you engage with the most by clicking like, share, or commenting. So, if you just want to read your feed a bit - that is what is in your face. If you have a 150 friends, and you only clicked like on 5/150 statuses, then you'll end up seeing posts from weeks ago by one of those 5.

Rather than something new.

They implemented this algorithm to instagram and it basically killed all small pages overnight. There is no growth anymore. People who are friends with you, or follow you, on either platform aren't just served your data. They have to go looking for it now.

If you respond to those text messages, it automatically posts it as your status, even on a deactivated account. I responded “fuck no” bc I’ve been off fb for years and then I got texts from aunt Shirley saying I need to “think about my life choices if I’m using such language”.

Fuck Facebook and fuck aunt Shirley, sanctimonious bitch.

Going back to Zuckerberg is like going back to an abusive, manipulative boyfriend. Don't do it. He hasn't changed.

yep this is exactly the problem for me too... log in to Facebook and it's just all complete bullshit and links to other garbage, none of the actual stuff that I want to see so I stopped going

He’s still up from [where he was a month ago] just realized the reddit app wouldn’t let me add pictures. Seems like a major oversight reddit.

I hate how it keeps suggesting mr friends which I can't shut off on my phone unless I'm signed off it. So I never sign in anymore.

Why doesn't Reddit get this. It's like everyone thinks that stockholders are just guys in tuxes and top hats on wall street peering down on the poor workman through their monocle

It didn't cost anyone anything if they didn't sell. It's not like their money is gone forever, as long as the stock continues to rise. Stocks go up and down and FB is still up 41% in the last year. You only lose or gain when you sell.

I'm sick of seeing everyone's likes rather than what they actually post which happens way less. I don't want people seeing my likes either, why does it need to be a thing? Just junks everything up and made me unfollow pretty much everyone's updates. Fb now is just where I keep some friends for when I need to pull anyone out for a chat.

Edit: typo/autocorrect

So I am not the only one. Here I thought that my FB was not updated or something since I do not even see friends posts or alike and just see bunch of garbage.

"Mark Zuckerberg spends $3.3 billion of Facebook's money on future political currency."

That's what it should say.

Hell, today I got a notification from facebook that some random lady I have never met before is now on facebook and I should send her a friend request. Like. What the fuck. This wasnt her adding me, this was facebook itself telling me I should add her.

He's doing me no favors. I run facebook purity every time I log into that thing. I dont play well with ads and cookies. And that 'Top Stories' selection is a goddamn joke. Default to 'Most Recent' or gtfo

No he won't.

Our Lord and Savior.

Uhh, what backgrounds?

This is an ethical move, good for him.

Instead of it being a 1kb chunk of data, it's now 500 times larger just for some color. Shit like this is why the WWW browsing is still as slow as it was 10 years ago even though the average user's bandwidth has gone from ~1mbit/s to ~75mbit/s.

That was literally the majority of the tech industry. Look at every large tech company from Square Cash to Amazon to Navida to Netflix. Companies in particular industries will typically follow the same pattern especially when there's a huge gap up or down. The drop in Nov/Dec was a mix if uncertainty of tax reform, end of the year sell off, and a minor correction from a year of record breaking stock performance in this industry.

At least he is going to try and fix this exact situation. Less media bullshit on Facebook reduces chances of their misleading sensational headlines from influencing the sheeple majority.

Yeah we might be too lazy. But that's not on me in this case. That's on the business trying to monetize my site traffic.

In fact, he's getting the 12' walls.

Or a Learning Channel that moved away from educational television to show reality TV crap

Where's the outrage in Facebook losing market value?

Literally. If you care it's because you own stock. And if that's the case, I don't care. About the stock or Facebook. I'm fine with both of then burning.

It is a good idea, but for people that have been on the site for almost a decade it seems to have changed a lot. I think a lot of people are turned off by that.

I don't know how others use Facebook, but the only thing I see there is posts from family and friends. It has never occurred to me to get news from Facebook: that's not what it's for. At least, it's not the way I use it.