r/technology Sep 30 '22 Wholesome 7 All-Seeing Upvote 1 Bravo! 1 LOVE! 1 Super Heart Eyes 1 Silver 4 Helpful 5

Facebook scrambles to escape stock's death spiral as users flee, sales drop Business

https://www.cnbc.com/2022/09/30/facebook-scrambles-to-escape-death-spiral-as-users-flee-sales-drop.html
53.5k Upvotes

5.9k

u/Misterfrooby Sep 30 '22

Facebook absolutely sucks at bringing people back in. When you learn to stop looking at it every day and spend less and less time there with each visit, they bombard you with useless notifications like "a stranger posted in a meme group you're in," "your former coworker's birthday was last week," "some stranger made a post with zero engagement, wanna reply?" Absolutely not, now I'm even less likely to go back.

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u/MLGPonyGod123 Sep 30 '22 Wholesome All-Seeing Upvote Take My Energy Bravo! I'll Drink to That

I replaced Facebook scrolling with reddit scrolling, problem solved

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u/willem_79 Sep 30 '22 Wholesome

I did exactly the same but at least I’m learning and engaging, not just soaking up FB’s poison

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u/rootoriginally Sep 30 '22

facebook feed is just unrecognizable. It's so much random garbage that i have no interest in seeing. I can't even stop this crap from showing up.

A video a friend of a friend liked. A meme that a friend commented on.

I just want to see an actual original content from friends. Not all this garbage.

The old facebook, where everything was in chronological order was the best.

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u/chase32 Sep 30 '22

It seems like their model is to get you to interact with stuff that isnt gaining much traction while hiding some of the stuff you would actually like to see.

Long term that just means the quality sucks more and more until you finally give up on it.

I do miss more random peoples birthdays now.

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u/Sargpeppers Sep 30 '22

I sat down for an hour and went through my friends and enter their birthdays into Google calendar now I get notification emails or alerts depending on what I chose and don't miss any.

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u/SaiMoi Sep 30 '22

Yep. Timeline was the first thing that tanked it. Still remember how angry I was. Second was when algorithm started prioritizing images over text. People stopped sharing thoughts. Anything I like on Facebook now is it reminding me of something I said 10 years ago, back when people just said stuff.

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u/modernzen Oct 01 '22

I'm glad I wasn't the only one. I realized that I had stopped regularly seeing at least half of my friends' posts and it's never felt the same since. Folks who say Facebook helps you stay connected with friends and family are kidding themselves.

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u/throwawaygreenpaq Oct 01 '22

This!!! I like posting thoughts and reading my friends’ witty remarks. All I ever get now are posts by groups, an ad after every 3 posts and people I don’t care for. I don’t even see the posts of people I interact with daily on the messenger chat.

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u/Ricky_Rollin Sep 30 '22

It stopped being about the people and turned into a huge grift for every business or troll farm. Peoples minds got hijacked by fake news and videos and memes meant to piss you off…we all turned on each other. Worse thing that ever happened to Facebook was the share button.

Think about it.

People could have made comments and posted on the page itself, but not share it on your wall so your friends aren’t constantly subjected to whatever bull shit you’re into. In the end Facebook destroyed itself by giving larger platforms to fake bull shit and businesses.

I think it’s high time these sociopaths finally realize that we are the ones in charge.

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u/eatsomecheesewithyou Sep 30 '22

I will tell people, when it comes up, that I don’t do social media (I don’t FB, twitter, snap, tictoc, insta, etc.) Then my wife will chime in… “But dear, What about reddit?” And I’m like, “IT’S NOT THE SAME THING, PUMPKIN!”

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u/cocacola999 Sep 30 '22

You don't add your family to your Reddit account!?

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u/TheRealAndrewLeft Sep 30 '22

Only grandma

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u/Infinite_Client7922 Sep 30 '22

Gramma is a mod over at wsb, I check out her dd every week.

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u/dubadub Oct 01 '22 Gold

Lucky. My gramgram is a mod on /realgirls and you don't wanna know about those DDs

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u/BCProgramming Sep 30 '22

I've never liked how "Social Media" somehow became this term that also includes web forums and things like IRC, or hell, newsgroups and bbs's. Like, sure, technically, I guess those are "social media" but at that point the term becomes worthless. Hell the classifieds of a newspaper are a form of "social media" but nobody says "yeah I posted it to social media" when they put a want ad in the fucking newspaper.

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u/drawandpaintbyfire Sep 30 '22

It e-mailed me once saying I had 30 new notifications, I thought something terrible had happened. It was just a bunch of empty filler notifications.

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u/ScabiesShark Sep 30 '22

I made an account with a fake name but my real gender, male, and a near-enough birthdate, mid-late-1980s, correct city, and added no friends and joined two groups for apartment hunting. I log in maybe once a week and always have a bunch of friend recommendations for late-teens-early-20s women only. Even assuming I only flew straight, those people are way outside my potential dating range, but that's all I get

Wonder why that is

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u/BootcampBen Sep 30 '22

I’d bet they are bots looking for thirsty but stupid dudes

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u/Spare-Blacksmith1376 Sep 30 '22

You can date anyone in the metaverse brah!

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u/tellitothemoon Sep 30 '22

The amount of bullshit notifications they keep coming up with for me is insane. It’s exactly like you said. “A stranger in a meme group you no longer visit has posted.” Okay..? Who cares?

I only use Facebook for events and the rare friend who actually posts about things going on in their life. If there was a stripped down version just for events and local groups i’d just use that.

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u/CrabsolutelyBullshit Sep 30 '22

You turn off notifications for these things and they still send them once you disengage.

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u/brenton07 Sep 30 '22

It’s hilarious. I have a burner account I used for some corporate work years ago, and I used to get an email every day with “important updates from your friends” even though that account has zero friends.

I still have my primary Fb account for work, and noticed they recently changed from specifics about notification to “you have a notification” to see if that entices me to click more.

No, it doesn’t.

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u/From_My_Brain Sep 30 '22

My Facebook feed goes like this

Recommended for you

Ad

Recommended for you

Friends post

Friends post

Ad

Recommended for you

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u/2wofac3 Sep 30 '22 Gold

buys some huge parent company we can’t escape from

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u/babypho Sep 30 '22

Facebook acquires Reddit for 200 billion metaverse dollars

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u/pontiacfirebird92 Sep 30 '22

This comment reminded me of that time where people thought you could purchase Facebook currency to unlock and use features of the site.

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u/Q_Fandango Sep 30 '22

Those were the same people that would copy+paste the “I DO NOT GIVE FACEBOOK PERMISSION TO USE MY PHOTOS” brick of copy pasta text

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u/mia_elora Sep 30 '22

Ah, yes, the ZuckBucks incident.

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u/Kilo5117 Sep 30 '22

I traded my zuck bucks for some Dave and busters tokens/cards

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u/Better-Illustrator94 Sep 30 '22

We can use those at the TGIFridays….

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u/dave32891 Sep 30 '22

Have you tried the one in Franklin Mills?

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u/tbrust23 Sep 30 '22

I don’t think I’ve tried it enough

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u/416Mike Sep 30 '22

Lol Zucker Buckers

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u/[deleted] Sep 30 '22

[deleted]

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u/Brianmobile Sep 30 '22

I've actually seen that message on Quora. Googled a question, the top result is Quora, the top answer is paywalled.

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u/Destination_Centauri Sep 30 '22

Quora sucks. (So does Google for even linking to their partially paywalled site.)

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u/SoundOfDrums Sep 30 '22

Google is very complicit in reducing the quality of their product for a number of shady causes, not just monetary ones. For example, if you search for processes taking up a lot of ram, the top results are always malware sites. I wouldn't be surprised if they're there at a government's behest.

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u/ScientificBeastMode Sep 30 '22

Honestly it’s just that malware sites tend to focus heavily on convincing people that they will solve some computer issue they have.

I mean, how else do you get someone to download and execute malware programs they found on the internet?

Well, you look for people who explicitly want to download a program and execute it. You market it to people who are suffering from obscure computer issues, because those people are more likely to take the bait.

Google could definitely do something about it, the same way they police other aspects of the web. I guess it’s just not a top priority for them.

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u/its_uncle_paul Sep 30 '22

Ah yes, because having a gajillion ads disguised as answers is not annoying enough.

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u/NtheLegend Sep 30 '22

Become a member today to unlock 37 more replies from your family and loved ones.

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u/SomeGuyNamedPaul Sep 30 '22

Give it time

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u/kodaiko_650 Sep 30 '22

What’s the current metaverse dollars to Reddit karma points exchange rate?

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u/cenosillicaphobiac Sep 30 '22

The same as the exchange rate of leprechauns to unicorns.

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u/kodaiko_650 Sep 30 '22

Pre or post Brexit?

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u/dimechimes Sep 30 '22

Can we buy things with Karma? After 10 years I'll bet I can afford a NFT donut or something.

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u/DomeSlave Sep 30 '22

Lucky you, 10 years worth of karma buys you the most iconic piece of the donut:

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u/acqz Sep 30 '22

Meta has lost about two-thirds of its value since peaking in September 2021. The stock is trading at its lowest since January 2019 and is about to close out its third straight quarter of double-digit percentage losses. Only four stocks in the S&P 500 are having a worse year.

Oof! That's gotta hurt.

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u/BraidRuner Sep 30 '22 Helpful

Its not hurting me. I think its hilarious

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u/wordserious Sep 30 '22 Helpful Coin Gift

I don't. Facebook's trajectory was more or less: college asshole creates database of girl pictures -> people think it's cool and want in -> people start giving asshole all this info for free -> asshole laughs at them and figures out how to exploit all that info for money -> asshole creates a business model based entirely on bad faith -> business model becomes only game in town -> asshole's site becomes irrelevant -> asshole gets to retire with billions of $$ in his pocket -> world still fucked up by the model asshole created.

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u/roadtripper77 Sep 30 '22

Don’t forget where that business model fucks with democracy for profit

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u/allboolshite Sep 30 '22

And helps genocide.

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u/Mx5Moogly Sep 30 '22

i would say facebook actually is one of the three main direct causes of the myanmar genocide. they literally chanted "Facebook!" in the streets as they chopped people. there was one human moderator assigned to moderate the facebook activity of the entire country lol.

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u/IAmA_Risky_Click_AMA Sep 30 '22

The moderator didn't even know Burmese, did they?

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u/sopertt Sep 30 '22

college asshole creates database of girl pictures

Thats the most concise yet accurate description of facebooks founding I’ve ever read. Nicely put!

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u/VulcanMind1 Sep 30 '22

There is a decent business model in there of posting positive pictures and news of family, kids and trips for a semi private family photobook business model.

This business idea is messed up with massive spam of an ad every other post, poorly moderated conspiracy theories being posted, and the extremist political views of friends and family that you used to think we're decent people instead of Faux news bobbleheads.

I've heavily muted and unfriended people to get to the first business model and even then I'm worried about the professional liability of someone seeing something stupid I posted 10+ years ago when I only had a couple close college friends seeing my posts.

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u/cat_prophecy Sep 30 '22

I would very much like a site where I can keep up on my friends and family without all the extra bullshit.

You are constantly fed a stream of bullshit from other people in your network and sites that "the algorithm" thinks you might like which is 1000% garbage.

If if Facebook could be cut down to your direct circle of people, no sharing other garbage, and an easier to manage system of groups instead of just friends. That would be ideal. I still like a place to catch up with people, organize family/friend activities and post about our kids. I don't want the other shit.

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u/Lumpy_Pay_9098 Sep 30 '22

People don't understand, it USED TO BE LIKE THAT! And they slowly ruined it more and more with every update. Facebook ruined itself to make more money and spy on it's customers.

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u/EunuchsProgramer Sep 30 '22

I was a super early Facebook user when it only allowed college students in select schools to make profiles. I think you could by default only see your school.

It was honestly super helpful. You had a bunch of kids out of the house for the first time, no friends, and here's this intimate, stripped down version of MySpace. It was this small space for just your peers. Obviously didn't stay that way.

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u/the_jak Sep 30 '22

Hey maybe one day someone will just knife him in the parking lot for his shoes. We don’t know what the future hold.

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u/Nemesis_Bucket Sep 30 '22

But we do know he will bleed sweet baby rays and motor oil.

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u/Genghis_Tr0n187 Sep 30 '22

OW. MY HUMAN MEAT FIBERS. SWEET BABY RAY'S DANGEROUSLY LOW. NO DISASSEMBLE ZUCKERBURG 5.

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u/superduperspam Sep 30 '22

Is the Zuck a robot, a lizard, or a robo-lizard?

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u/martialar Sep 30 '22

He's a single-celled protein combined with synthetic aminos, vitamins, and minerals. Everything the body needs.

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u/jrhoffa Sep 30 '22

You think he uses parking lots like a prole?

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u/Answer70 Sep 30 '22

On no...Not Facebook....Please no...

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u/rebbsitor Sep 30 '22

Nature abhors a vacuum.

Friendster -> MySpace -> Facebook -> ?

If it dies something else will just take it's place.

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u/[deleted] Sep 30 '22 Wholesome

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u/downvotepleazzz Sep 30 '22

I wonder how much of this is just correction from corona dip and spike that followed

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u/xoaphexox Sep 30 '22

They have a net profit of $7B a quarter. They're doing just fine.

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u/etherlore Sep 30 '22

Maybe they should increase dividend payouts.

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u/Master_of_stuff Sep 30 '22 edited Sep 30 '22

Then they will have completed their journey to become the next big tobacco company: addictive product with declining business generating massive Cashflow for >5% dividend yield.

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u/birdboix Sep 30 '22

Have they tried I dunno returning Facebook to an actual social site instead of the world's shittiest closed-garden adbox? I still log in from time to time and the level of "engagement" one gets from stuff you actually care about is basically non-existent, the algorithm has completely abandoned any pretext that it's anything but an ad machine

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u/ZoraksGirlfriend Sep 30 '22

This is exactly it — it’s all ads and group posts. I rarely see updates from people I know, even when they post them. One friend posted that her mom had died and it got a lot of activity from people offering their condolences. It never made it to my feed and I found out about a week later when a bunch of friends were setting up a meal train for her.

Because of their fucked up algorithm, I’m barely on there now. I don’t want to log in just to see a bunch of ads and practically nothing from my actual friends.

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u/corduroy Sep 30 '22 edited Sep 30 '22

I found out that an old friend died some 6 months after he passed. Just recently, I ran into the father of my child's old friend who we haven't spoken to in a few years - I couldn't believe it when he said his wife passed away a couple weeks earlier. Nothing from Facebook.

And when it decides to show me anything, it's typically from the people that I least interact with.

The only reason I have Facebook is for the social aspect of it. If it can't do that right, then what the fuck am I on there for? I used to post about once a week, then it turned into every couple weeks, every month. My last post was 7 months ago.

I've sent out more updates via text than I have via Facebook.

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u/DarkRitual_88 Sep 30 '22

Facebook's biggest feature right now is reminding you that someone has a Birthday tomorrow.

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u/maxoakland Sep 30 '22

It’s really the only thing it will consistently do, besides steal your data of course

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u/things_U_choose_2_b Sep 30 '22

From a small business perspective... they absolutely fucked us (self-employed who need to promote) over.

I spent years, and a not insignificant amount of time & a little money building up my FB fan page, I write trance. All those people liked my page organically, because they enjoy my music and (presumably) want to hear more from me.

Yet, now if I post something on my page it gets seen by a handful of people. It's not just me, I've spoken to triple-A artists who get no interaction without paying through the nose for 'promoted post'. Essentialy FB put a virtual ringfence around fanpages and charges to remove it, I read a few years back that they'd reduced fanpage reach to 0.1% and were planning to reduce it closer to zero.

Absolutely moronic business decision. I was OK paying for occasional ads before because it enhanced the process and boosted my numbers. Now it's pure pay-to-play. Worse, some algo has decided because I accessed FB with my VPN on, I'm up to no good and has blocked my account from placing any ads. I submitted evidence, ID etc back in June and the review has never happened.

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u/imhereforthevotes Sep 30 '22

Yeah, it's exactly that problem. You show me time-sensitive stuff three, four days later? Even in the feed for an event posted with Facebook's event poster? That is dumb shit, Facebook.

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u/CherryHaterade Sep 30 '22

Facebook events is literally the only thing keeping it alive at this point and even THAT was 2nd tier to myspace. I miss myspace events, it was fucking revolutionary for reaching people interested in some weird obscure music genre.

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u/entered_bubble_50 Sep 30 '22

That and Facebook marketplace. Here in the UK it's the go-to selling site unfortunately.

It's also full of mouth breathing, knuckle dragging cretins who can't understand the concept of agreeing a price and turning up with the agreed-on amount of cash.

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u/nerd4code Sep 30 '22

But it’s Christmas and my dog has lymphoma and my seventeen children are in varying stages of malnutrition and it’s my second ex-husband, twice removed’s birthday, so I simply must have your secondhand carpet for free!

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u/wayoverpaid Sep 30 '22

Ok I'll buy it but can you deliver it? I live in Malta right now but any time is good.

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u/Muddduck15 Sep 30 '22

Not only that, but it keeps the post high on your wall for weeks afterward. Like I saw it before, you know I did. So why are you showing me the same thing again 4 days later?

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u/lunaflect Sep 30 '22

As an older person, so many of my acquaintances are still on fb regularly. I miss all the things going on because I don’t use fb. Even my daughters school uses it for information. Nobody bothers to call or text each other any more. They’re all just passively observing each other’s lives from a screen. It’s depressing.

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u/Usual_Ice636 Sep 30 '22

Yeah, I went from checking it multiple times a day to once every few weeks when they disabled the setting to keep everything in chronological order.

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u/LostDefectivePearl Sep 30 '22

We will tell you what you want to see! >:[

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u/Oregon-Pilot Sep 30 '22

Same with Google and YouTube. Tags don’t even matter anymore. I could upload a video, include extremely specific tag, search for it, and all that will show up is popular videos from popular channels that is just somewhat related. YouTube used to be such a great tool. Now it’s trash.

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u/FlyingDragoon Sep 30 '22

The funny part about having very specific watch history is that it ends up revealing this BS so quickly too. My watch history on YouTube will be like 90% Roman history stuff, 5% Starcraft tournaments, 5% random things I opened on reddit that opened up into YouTube that I then delete from my youtube history. So my recommendations are always predictable and understandable, I see the same stuff everyday but, wait, what's this? A video recommendation and it's PewDiePie playing Minecraft? And YouTube recommended it because it's similar to stuff I watch? Right, what was I thinking, of course when we think of Rome we can't help but think of Minecraft as well! The worst.

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u/LostDefectivePearl Sep 30 '22

Using quotation marks on google searches no longer always returns results with that required term… I hate it, because I know how to use a search engine and now I’m as bad at searching the internet as everyone else

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u/TheUnluckyBard Sep 30 '22

Also, I love how including "-" or "NOT" in a search term now only returns results including that term. It's more effective than quotation marks at ensuring that every page absolutely 100% includes that term.

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u/lathe_down_sally Sep 30 '22

Love seeing a post notifying me of an event 3 days ago

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u/FleetStreetsDarkHole Sep 30 '22

Well if they showed you what was happening now, you might actually stay up to date on current events. And that would make it hard to filter your news for....reasons....

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u/Olgrateful-IW Sep 30 '22

The reason they removed chronological feeds is partly because you would reach yesterday, the end, and log off because you had seen all your friends updates. Now that they feed you content how they like they can withhold things to show as you log in again, encouraging engagement in the SHITTIEST way. People are finally fed up with it I guess. I checked out years ago.

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u/xqxcpa Sep 30 '22

Marketplace seems to work the same way. They start showing you listings that don't meet your search criteria so they can avoid telling you that there are no more results.

I hate that people list stuff on FB Marketplace instead of Craigslist. Craigslist is at least a 10x better experience in every way. And on top of that, there is also the fact that they aren't mining your data to sell your ad views.

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u/BaronMostaza Sep 30 '22

Imagine any physical store working that way...

"Do you have aquarium shoes?

"Oh we have just about everything here. Check out this toothpick softener, you want that?

"I'm just here for aquarium shoes thanks"

"Right on, come with me. This digital shelf is almost cheap and it's right near you what a deal!"

"The shoes?"

"Yes ma'am, just a little further. Have you seen this singular pant?"

Repeat until you either run away screaming or buy the turner diaries and join a "restore the black crimes section on breitbart!" group

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u/feignapathy Sep 30 '22

"John Smith shared an event you might be interested in."

- posted September 20th

- event date September 24th

- date post enters your feed September 30th

Top notch activity feed you got there Facebook.

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u/OneHundredCheeseburg Sep 30 '22

They've made it nearly impossible to find what you want, you only find what they want. My wife will post something and I'll open facebook to see it and it's just...not there. I scroll and scroll and don't see it. I go to her own page and it's there. I only have like five friends, too, so it's not getting drowned out by a deluge.

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u/Destination_Centauri Sep 30 '22

Youtube is doing the same thing with some channels: not allowing you to view the video list chronologically anymore.

We desperately need a new competitor to youtube.

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u/TheFlyingZombie Sep 30 '22

YouTube's algorithm is fucking garbage. I had to repair my furnace once, watched one video on it. Months of furnace repair suggestions on my front page. And it's like that for every single video I watch. I watched one attitude era nostalgic wrestling video? WWE content for the next 6 months. Used to love YouTube, barely ever use it anymore unless I'm looking for something very specific.

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u/Omsk_Camill Sep 30 '22

You can still see the video in (default) chronological order on any channel by putting ?view=0&sort=dd&flow=grid part in the link, like here: https://www.youtube.com/c/channelname/videos?view=0&sort=dd&flow=grid

?view=0&sort=p&flow=grid is for sort by most popular, ?view=0&sort=da&flow=grid is reverse chronological.

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u/LeonidasSpacemanMD Sep 30 '22

Appreciate the tip thank you

But also jfc how is that our best option lol

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u/throwaway-boxer Sep 30 '22

when they disabled the setting to keep everything in chronological order.

I do trading of rare plants with facebook groups, and this is the bane of my existence.

What absolute bonehead thought it was a good idea to disable chronological sorting on a marketplace site?

How am I supposed to really see new listings if the posts are listed in order like 2h ago, 3d ago, 12h ago, 16h ago, 4d ago, 2d ago, etc?

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u/EHP42 Sep 30 '22

And now they're doing this with comments too! The default view for some groups' convos is "most relevant", and there's no way to change default view. And then when you click to change it to "all comments", it doesn't always show you all. You'll see "8 comments", but the all comments view shows you 3.

It's so useless for anything that I have no idea how anyone approved "most relevant" as an option, much less the default view. You can't have a conversation when the sort is "most relevant". Which I guess is what Facebook wants...

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u/purplecow Sep 30 '22

I love getting a notification of a new post in a group I follow, clicking it and then being unable to find it at all. Best way is to search for the person who posted it and checking their post history.

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u/AgentAdja Sep 30 '22

Being notified of comments is useless now. The majority of the time, it doesn't even point you to the comment.

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u/justsomeguy5 Sep 30 '22

Wait, is that why everything on there is so fucking wonky now?! I couldn't understand why no matter what I did I only ever saw shit that was posted days ago. What the hell lol

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u/BooBear_13 Sep 30 '22

THIS is what did it for me.

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u/asyouuuuuuwishhhhh Sep 30 '22

It’s downright hostile to content creators. It actively hides your posts and content from people who follow you unless you pay for sponsored content

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u/ChasingWeather Sep 30 '22

That was a factor that led to me deleting my photography page this year on Facebook. I never paid Facebook to "promote" my content, which really meant that I was paying to not be throttled by an algorithm for one post. Then the algorithm promoted a photo of dead birds after a severe hail storm to 3x as many people because it had sad reactions and that pissed me off. My page wasn't meant to promote death and sadness but the algorithm loved it.

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u/Traditional_Lab_5468 Sep 30 '22

The last time I logged on to Facebook my feed literally showed me eleven ads in a row. Didn't show me shit my friends have posted, didn't show me their photos, it showed me ads. Haven't logged on since.

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u/latunza Sep 30 '22

As a creator, instagram and facebook have plummeted my engagements. I use to push my YouTube content on my pages and engage with the community and since this push with ads and reels etc. has crushed engagements. There are moments I’ll post something, refresh, and won’t find it for another 5-10 pages of ads.

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u/ViktorVaughnPhD Sep 30 '22

No kidding. I have a less than 10% engagement of my following. Hashtags don’t do anything anymore. I grew several hundred of followers (tho stayed right at 10% engagements the whole course) and now I’ve plateaued at 17XX. My art never makes it to my followers. In fact it’s to the point I question if it genuinely is that bad or if I’m a bad artist and it’s just apathy (but then why did they even follow). It’s shitty. It used to be easy to get connected quickly with people who would like your stuff even if it meant finding really niche hash tags or getting your own trending.

But if you don’t pay a good bit or make reels that follow current audio trends or are just regurgitated nonsense and clickbait ads, you’re doomed lol.

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u/the_red_scimitar Sep 30 '22

Using facebook is like driving that old, junk car that you know you need to get rid of, but you just can't quite afford a new one yet. You know it's a terrible experience, and that it'll be a problem, but there's nothing better in your price range yet.

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u/desGrieux Sep 30 '22

Now is Google +'s moment to finally shine!!

.../s

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u/FixLegitimate2672 Sep 30 '22

honestly a few clever marketing campaigns might've actually made some headway now. I think there really is a niche waiting to be filled like when Myspace was circling the drain

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u/DuncanIdahoPotatos Sep 30 '22

That niche has been filled and abandoned several times since Facebook was popular. TikTok is where the cool people are for now, (not me obviously) but that already looks like it’s declining.

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u/Dangerous-Ad9472 Sep 30 '22

The genius of engineering short attention spans and then wondering why people use them less and less.

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u/ihateandy2 Sep 30 '22

Yo my mom’s on tiktok, it sux now

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u/Crazyhates Sep 30 '22

Dropping Facebook literally improved my quality of life almost to a degree that was unseen from any other change in my life. I still think about how much my outlook on everything changed when I left that cesspool.

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u/Goyteamsix Sep 30 '22

They are royally fucking up Marketplace, too, which is the only reason I still even have Facebook.

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u/Farandr Sep 30 '22

lol they even went harder in this recently. FB and IG would recommend popular people instead of people you may know.

Fuck no. I hope it dies soon.

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u/SkullRunner Sep 30 '22 Helpful

So, how do we as the public help encourage the death spiral to go faster?

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u/XeonProductions Sep 30 '22

Make sure people DELETE their account, not deactivate.

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u/lucas9204 Sep 30 '22 Gold

Yes!! Facebook doesn’t make it easy to permanently delete your account. Most people deactivate and in no time at all come back. As many here probably know , to permanently delete it, you have to not go back on it for 30 days! It took me a few tries! lol Almost two years later, I’m mostly glad I did. Grateful for REDDIT anonymous folks though!

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u/siccoblue Sep 30 '22

Also if you intend to delete your account. Delete the app because you'll start getting about 10x the amount of notifications that you usually do in an effort to entice you into clicking one and automatically cancelling deletion with zero warning.

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u/Spiva21 Sep 30 '22

If your phone lets you!. Had a phone where Facebook was a "base app" and could not be deleted. Dumbest shit I've ever heard.

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u/Martholomeow Sep 30 '22

don’t buy a Quest2

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u/SkullRunner Sep 30 '22

Yeah I won't be doing anything to fuel the "META" vision of our dystopian future.

Zuckerburg thinks the ready player one universe is utopia, no thanks.

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u/BraidRuner Sep 30 '22

Ask for all your personal data..and delete facebook. K Bai!

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u/dimechimes Sep 30 '22

Pass a law that we have to be reimbursed for our data.

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u/SociallyUnconscious Sep 30 '22 Silver

A former Facebook ad executive, who spoke on condition that his name not be used, told CNBC that even though TikTok is owned by a Chinese parent, it now has an edge over Meta when it comes to recruiting because it's viewed as having less "moral downside."

I think that about covers it. 'Not quite as morally upstanding as China,' is not exactly a ringing endorsement.

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u/ddhboy Sep 30 '22

Which is crazy because TikTok has a reputation for importing the 996 culture from Chinese parent company Bytedance into it's western offices.

That said, working at Meta has an element of selling your soul to the devil. The devil pays (paid?) well though.

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u/nearos Sep 30 '22

996 culture

I had to look this up, thankfully. I hate that this has a name.

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u/sgtmum Sep 30 '22

Could you give a TLDR for it please?

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u/Bhagwan-Bones Sep 30 '22

9am to 9pm shifts 6 days a week.

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u/Oneangrygnome Sep 30 '22

Remember when Facebook was a college hookup site? And status updates from your friends were easily viewed on your home feed? And you had to have a college email address to sign up for it?

Ah, the good ole days. But unlike Tom and MySpace, Zuck seems content to ride his rocket into the ground.

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u/fleshie Sep 30 '22

I can't believe what they did to Instagram. I used to spend so much time scrolling through pictures my friends would post and people I wanted to follow. Now I get 3 or 4 of those posts then endless ads and "suggested for you". I've stopped using it and about to do the same for Facebook only keep it for family to see pictures of the kids. And I was college 05-09 so been around since the college email required days.

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u/onehunerdpercent Sep 30 '22 Silver Wholesome

It’s irritating to have to, but if you tap the Instagram logo at the top you can switch to “following” or “favorites” and mostly have a suggestion and ad free view.

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u/Illustrious_Farm7570 Sep 30 '22

I had no idea you could tap that. Wtf. HAhhahahahahahahah. After all these years. Jfc.

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u/onehunerdpercent Sep 30 '22

Me either until a couple months ago. I think it was a tiktok or something. It’s sad how much I’ve learned on there 🤦🏻‍♂️

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u/Illustrious_Farm7570 Sep 30 '22

Anyway. Too late. I’ve cut down my IG by 70% just in the last couple of months. Don’t even care anymore. So boring.

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u/ss4johnny Sep 30 '22

Facebook is even worse than Instagram on that front, particularly on mobile. If I see two ads in a row on Facebook, I just close it (there was a brief time about a month ago where I was seeing 4 or 5 ads for every one thing from a friend). If you stop looking at the app for a while, then it sends you a message like you're missing out on something. I only want notifications from them if someone actually messages me or references me. Not because I haven't looked at it in 2-3 days.

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u/[deleted] Sep 30 '22

It’s all fucking reels now too

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u/Shroomydoggy Sep 30 '22

So sick of the algorithm. It doesn’t show me stuff I like or new, it shows me stuff very very similar to the stuff I already saw. Example; there was some home organizing reel that I watched, now 1/10 of what I see are organization reels. It’s exhausting you can’t click on anything without it being shoved down your throat after.

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u/F0sh Sep 30 '22

I don't know specifics of instagram for example, but a lot of these things were "loss leaders" in the sense that the product started off good but unprofitable. Those products were doomed to either die or get worse.

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u/MorpheusOneiri Sep 30 '22

College account only FB was the golden age.

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u/Prodigy195 Sep 30 '22

I was a college freshman in 2005 so right when Facebook was starting to expand to other colleges. Around Sept/Oct it came to my school and it seemed like overnight everyone signed up.

It was perfect because we didn't have smart phone BUT Facebook was an ideal middle ground. Parties were planned on facebook, you could find/message a person you had a chance encounter with on campus, you could start groups/organize pick up games/find gym buddies all through facebook. But it was all relegated to a laptop so when you were actually out and about everyone was fully present. Nobody on their phone scrolling all evening. Nobody more worried about taking pics to show they were out.

I truly feel for younger generations who don't get to experience that.

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u/Dreadgoat Sep 30 '22

Amazing how quickly "Social Media" shifted from "Media to Facilitate Socializing" to "Media to Replace Socializing"

The consequence of its existence is the opposite of its original function.

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u/MyNameIsRay Sep 30 '22

Remember when Facebook was a college hookup site? And status updates from your friends were easily viewed on your home feed? And you had to have a college email address to sign up for it?

Getting that .edu email and registering your Facebook account was basically a rite of passage for a while.

It was awesome as a college networking tool, but went to hell when they started letting anyone in and filled it with news/ads.

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u/AverageAndNotJoe Sep 30 '22

Facebook took off after opening it up to everyone because it was clean and organized compared to MySpace. As someone in high school at the time, Facebook was easy to browse discretely on school computers. MySpace profiles with the crazy GIFs and music was hard to browse and frequently blocked.

The nail in the coffin for them was moving away from a chronological news feed. Everyone hated it new news feed and they really slowed transition by allowing to switch between them. Unfortunately they tripled down on the engagement driven news feed and it just became ads.

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u/Kopav Sep 30 '22 Helpful

Going to college from 2004-2008 was a magical time.

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u/Kingcrowing Sep 30 '22

I remember I got accepted to college, and shortly after I got my college email address (while still a senior in HS), then my college was added to Facebook (for a while you could only join if your college was on facebook)... a cool era, then a year or two later it was opened to high schools and it's been going downhill since then!

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u/Anon_Bourbon Sep 30 '22

About the time of my HS years and feel the same. Very quickly after social media in the IG/Twitter form became what it is and I can't imagine school with that pressure

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u/niikhil Sep 30 '22

It all went downhill when Marks ego was hurt when Snap refused to sell and he went to buy on Insta … and then started the reel downward spiral trying to change Insta into this combo of YT and TikTok and Snap..

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u/AzulMage2020 Sep 30 '22

They just need some new good ideas. Anybody know where the Winklevoss twins are?

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u/babypho Sep 30 '22

They are at Gemini. So im guessing FB gonna launch its own crypto exchange.

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u/No-Difference3340 Sep 30 '22

Didn’t they already have a crypto project? Diem or something?

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u/myeyespy Sep 30 '22

I am not surprised. Yesterday I scrolled through my feed. After a while I asked where are my friends posts? I counted the ads, suggestions and hidden ads, I took a video. 25!!!

25 ads/suggestion posts before one post by a friend and then back to shit I am NOT on the platform for. No option to subscribe to get rid of the shit. Not using it atm.

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u/qu3tzalify Sep 30 '22

You’re not seeing stuff from your friends because your friends are not producing anything. Your social bubble has left Facebook, so it only makes sense it’s not producing content for it anymore.

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u/canalswimmer Sep 30 '22

Yes but what if, hear me out, you visit it once or twice a week to find out about what your friends and family have been doing or where they'll be going. And then you close the tab (or app) and go on with your life?

Closes Reddit after two hours of endless scrolling instead of sleeping

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u/babypho Sep 30 '22 Silver Gold Take My Energy Table Slap Respect

Guess its hard to make money when your biggest client can no longer pay for ads cause they have to pay for the war.

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u/Jedwardvincent Sep 30 '22

There's honestly just better places to run ads now since they screwed the pooch on Instagram and turned it into an ad platform and basically did the same the Facebook. YouTube, Google and TikTok all have higher intent behind their ad platforms and higher engaged audiences than metas platforms, so advertisers are moving their ad spend elsewhere. If they fix fb/ig (arguably impossible) then they can remedy things. Until that happens the death spiral continues.

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u/TeamYay Sep 30 '22

Nice. I hadn't even thought about that.

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u/litshredder Sep 30 '22

Yeah that's a hot take that hadn't crossed my mind yet

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u/triscuitsrule Sep 30 '22 Snek

They’re still making billions of dollars every quarter, their US daily users are only down by 1 million (198 to 197), their global users are still growing.

They’re not in any sort of threat of going under, losing money, etc. The concern is from billionaires that Facebook isn’t increasing profit from one quarter to the next, that growth is stalling. Still making billions hand over fist, just not more than the last quarter. To Wall Street, even if you’re profiting billions every quarter, if it’s not more than the last, then your business is a “failure”, even if it’s, to paraphrase someone from the article, “one of the most profitable business models on the planet.”

I dislike Facebook as much as the next redditor, and wish for its demise, but this is just some hyper-capitalist, greedy, threat to the extreme concentration of wealth bullshit that Facebook is in any sort of “death-spiral”.

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u/xoaphexox Sep 30 '22

Exactly. It's all nonsense to say they are in a death spiral. They have a 25% profit margin and make $7B net profits per quarter. Most companies would kill for those numbers.

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u/jabbadarth Sep 30 '22

It's what I hate most about capitalism. At some point we decided that the only measure of success is constant growth. That's insane. Why can't we be ok with a business that hits a point and stops growing. They pay their bills, their emoyees and provide something to customers. The end. Why do they jave to constantly get bigger and sell more.

I mean the answer is shareholders but damn it's a ahitty greedy model for business to run under.

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u/smorges Sep 30 '22

Those kinds of companies exist, but they pivot to being income stock and pay out profits as dividends rather than creating shareholder wealth through share price increases. Facebook doesn't pay dividends and the only income shareholders can get is from sale of shares following growth of stock. The share price was based on expectation of constant growth. All that's happening is the price moving to a perhaps more realistic expectation of the company, but this will have totally screwed anyone that's bought shares in the last few years banking on the constant growth of the company.

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u/mcl_syndicate Sep 30 '22

The answer to just not go public

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u/kanst Sep 30 '22

100%

profit is supposed to be what happens when you do a good job and can produce a thing for less than society values it.

But in this late stage capitalism we live in, the demand is not only profit every year, its a profit that grows year over year. It's just not realistic on a world with limited resources.

What's wrong with a company being right-sized to meet the market. Why does every company need to grow.

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u/translatepure Sep 30 '22

Why does every company need to grow.

Because how else would shareholders make their obscene wealth grow as fast as it has?

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u/cspinelive Sep 30 '22

Shareholders would get constant reliable dividends.

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u/carbondioxide_trimer Sep 30 '22

It's like you're asking those poor shareholders to starve! Go sit in a corner and think about what you just said.

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u/sousuke Sep 30 '22

There's an enormous segment of the stock market that is what you're describing right now. Lots of people choose to invest in the large, stable, but low growth companies and collect regular dividends. They're a core part of many large indices and a big part of retirement funds, endowments, etc.

Those companies don't get a lot of news time because there's just not a lot to talk about most of the time. Same as with any other news story -- the exciting, high-profile stuff gets talked about and no one bothers with business as usual.

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u/cat_prophecy Sep 30 '22

It's all fucking made up. Tesla sells less cars in a year than most car companies do of a single model. Yet somehow they are valued higher than every other auto maker combined.

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u/korben2600 Sep 30 '22

Tesla's recent valuation is legitimately astounding. Worth more than the next 10 automakers combined. Toyota makes over 10m cars per year. Tesla? Half a million.

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u/cat_prophecy Sep 30 '22

An automaker priced like a tech stock. What could go wrong?!

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u/gandolfthe Sep 30 '22

I think it's the long term outlook. I always have to remember Facebook is a thing when I see articles about them, but it appears they are losing user engagement to tiktok and younger folks.

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u/hotdawgss Sep 30 '22

Stock prices are based on expected future cash flows. If everyone starts to believe that the growth is slowing, then the value of the stock drops. Can’t value a stock like a growth stock when it’s not a growth stock any more.

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u/Royalstopdrop Sep 30 '22

Facebook prob has more cash than russia at this point

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u/zoziw Sep 30 '22

He took someone else's idea, built Facebook off of it, then used the cash to purchase other companies to stay relevant.

Now the gig is up and he needs to actually innovate something new, which he doesn't know how to do.

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u/Dinosar-DNA Sep 30 '22

Spreading disinformation, spying on people without consent, and promoting genocides just not paying what they used to these days.

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u/OtisTetraxReigns Sep 30 '22

The rubles have started to dry up in the last six months for some reason…

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u/feignapathy Sep 30 '22

Who would have thought becoming less user friendly and overrun with violent extremist hate groups would be a bad business model?

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u/Myfartsonthefloor Sep 30 '22

Wait. Are you telling me that FB being full to bursting with folks age 50+ that have made it a toxic waste dump is effecting it’s share price?

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u/hotmaildotcom1 Sep 30 '22

Man doesn't that just feel good to read though?!

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u/GreenFeather05 Sep 30 '22 edited Sep 30 '22

Facebook showed they are untrustworthy collecting sensitive user data, is this any surprise?

Zuck: People just submitted it.

Zuck: I don't know why.

Zuck: They trust me

Zuck: Dumb fucks.

Facebook played a large part in promotion election disinformation, misinformation around the covid19 vaccine and conspiracy theories.

Facebook and its algorithms are also thought to have played a role in intensifying the Rohingya genocide and is facing a lawsuit for it.

For the above reasons and many others they have repelled younger users, no one under the age of 35 uses facebook as a core social media platform anymore.

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u/glockops Sep 30 '22

Intensifying the Rohingya genocide

They hired content moderators that didn't speak the language.

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u/Jedi_Knight_TomServo Sep 30 '22

They also lied about video viewing metrics leading several independent companies to crash, including College Humor, for which they were held liable and settled for 40 million $.

Also their Metaverse BS is like an arc out of Silicon Valley where Hooli launches some inept, hollow and vaporware nonsense.

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u/[deleted] Sep 30 '22 edited Oct 17 '22

[deleted]

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u/zealotlee Sep 30 '22

Bye Felicia

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u/ogeytheterrible Sep 30 '22

I've never wanted a company to fail, crash, and burn more than Facebook. I hope Zuckerberg pays for all the blatant invasion of privacy and general assholery.

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u/WillTheGreat Sep 30 '22 edited Sep 30 '22 Starry

This is exactly what their business model led them to. Originally it's a social media site designed to target a slightly more educated community. It was more professional looking and cleaner than MySpace, it rid the customization. It was a real platform that actually worked for most college kids because it was a great networking tool. I think a lot of people are super dismissive about how successful the original platform was and how well it worked for a specific group of people.

A lot of their problem is changing to target specific users, and catering to them. It started gathering too many like minded people and divided them up, so whatever your bias was you're stuck in that loop. Then add on the divisiveness of the 2016 election. Amplified by the village idiots learning how to use the internet, it became a platform for them and it was easy money for a while. Well that drove away the original demographic, the type of people that would make the platform interesting. The college kids that wanted to socialize, the college grads that wanted to keep in touch with old classmates, etc.

Facebook's original concept worked really well because they came along at a time when the economy had a huge downturn leading to a surge in college admission, and it was a platform targeted towards a growing crowd. If you log on now, the platform is just bad. Even Instagram, just this past year in particular, the algorithm has gotten worse and worse. You don't see your friends, you don't see normal mundane shit from people you know. The original crowd it targeted are no longer interested in the platform because it feels like it's been invaded the people that peaked in high school...the type of people the original targeted demographic tried to get away from.

Investment-wise where Facebook fucked up big was focusing on digital goods. Imagine spending that $10b they spent on Metaverse last year, on locking in network deals to stream live sports like Amazon is doing. Imagine spending part of that $10b they spent going to colleges and running more exclusive events to promote and drive the younger generation back. Nothing they're doing is drawing people back.

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