IN FEBRUARY, THE COMPANY FORMERLY KNOWN as Facebook lost $232 billion in value in the stock market—the biggest loss ever suffered by a U.S. company in a single day, a plunge equal to the combined market values of Netflix and Fedex. By the end of April, the stock had lost another fifth of its value.
Meta Platforms, as the company is now formally known, can only wish that a brutal stock beating is its only problem. Meta faces serious threats on several fronts, and any one of them might prove existential. For the first time in its 18-year history, the number of people who use the once-ubiquitous-seeming Facebook social network has been dropping. Privacy protections added by Apple last year to its phone software are hobbling Facebook's bread-and-butter ad business, which depends on keeping tabs on what users are up to. And the all-important youth market is shunning Facebook in favor of TikTok.
Meta is also facing a daunting level of ire, which is splashing over onto the rest of Big Tech-that is, Google, Amazon, Apple and Microsoft. These tech giants and Meta are facing scrutiny from regulators and legislators both in the U.S. and Europe. And they are all objects of an intensifying resentment on the part of the public. A sign of the times: A Democratic Congressional candidate in Virginia, Andy Parker, was, until pulling out in mid-April, running almost entirely on a platform of curbing Big Tech's enabling of bad behavior online.
هذه القصة مأخوذة من طبعة May 13, 2022 من Newsweek.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة May 13, 2022 من Newsweek.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Major League Error
Why baseball fans have long thought Ty Cobb to be a racist when he wasn't
The TikTok Election
With both Donald Trump and Joe Biden now on the app, could it help determine the next U.S. president in November?
Failure to Deliver
Multinational companies embraced Chinese factories to lower costs. Their excessive reliance ended up being a central cause of the COVID supply chain meltdown
The Fight to Ban Child Marriage
Under-18s can legally wed in most U.S. states but young spouses are often left physically, emotionally and economically vulnerable, campaigners say
BEST SPECIALISTS & SURGEONS
FINDING THE BEST MEDICAL SPECIALIST IS A DAUNTING TASK for anyone requiring specific treatment.
SURGEONS MAGIC TOUCH
Americans turn down syringes but go UNDER SCALPELS. What do these doctors know that the rest of medicine doesn't?
ARABIAIN MIGHT
SAUDI ARABIA'S INCREASING STRENGTH MEANS IT NOW HAS MUCH MORE CLOUT WITH ITS PARTNERS, INCLUDING THE U.S.
Bringing Trump's Trial to Life
Sketch artist Isabelle Brourman tells Newsweek what it was like covering the former president's court case
Iran Examines the Nuclear Option
Tehran's rhetoric could spark an arms race in the Middle East like never before
Climate Conviction at What Price?
Fifty years ago experts doubted Americans would pay to save the environment. Only some of their fears are still true