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 Europe.
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 Europe.
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
ARABIAIAN 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
Most Loved Workplaces 2024
THE WORLD'S MOST LOVED WORKPLACES ARE REMARKABLE FOR A variety of reasons.
Maya Hawke
MAYA HAWKE WEARS MANY HATS: ACTOR, WRITER,SINGER. BUT FOR Hawke, everything comes down to words.
Jacob Anderson
ANNE RICE'S NOVEL INTERVIEW WITH THE Vampire has a rabid fan base, intensely protective of the story and any adaptations of it.
VOTES OF NO CONFIDENCE
Why recent U.K. election results will ring alarm bells for Joe Biden
BIDEN'S BATTLEGROUND ELECTION
A small number of Democrats PROTESTING the president's support for Israel's war in Gaza could PREVENT him from winning a second term
'It's Time to Treat Addiction Like Cancer'
Both are serious illnesses but, unlike those struggling with substance use disorders, didn’t face shame and stigma when seeking help over my tumors