Facebook took a hit on the stock market, like big time, record setting stuff. I’d like to take credit for that, since it came within a week or so of my announcement that I was Phazing Out Facebook, but I’m not sure that I have that much influence.

The core problem appears to be decelerating revenue growth, fuelled by user base stagnation in Europe and the US, where Facebook makes the bulk of its advertising revenue. During the earnings call the company revealed that growth would continue to slow down throughout the second half of 2018, moving the company from a long period of “hyper-growth” (more than 40% year on year) to just high growth.

It’s the biggest ever one-day drop in a company’s market value, falling from a record high of $619bn on Wednesday to just $501bn in early trading on Thursday.

from Facebook Stock Price Falling

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Jonathan Erdman

Writer. In the summers, I live and work in the incredible state of Alaska, in the bush community of McCarthy, as the Executive Director of the Wrangell Mountain Center. When not in McCarthy, you'll typically find me in the Santa Cruz Mountains of California, writing and working with local activists. My primary writing project right now is a novel set in remote bush Alaska, of the magical realism genre wherein an earnest and independent young woman finds a mysterious radio belonging to her grandmother, a device that has paranormal bandwidth and a disturbing ability to mess with one's mental stability.

One thought on “Faceplant”

  1. If the movement of a butterfly’s wings on one continent can cause a tsunami on another continent, well then maybe….. maybe you did this. Do you feel badly about destroying something so socially important?

    Liked by 1 person

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