Is the Long Arm of Silicon Valley Being Cut Off at the Knees?
f you’ve been following what’s been going on lately in tech and focusing on the headlines, you might have missed the forest through the trees.
Silicon Valley Disruption Part 1:
Facebook just lost half a million users, the headlines screamed (out of nearly 2B, and no bigs, you’d think, but a) they’re not growing, b) those users are in the US: prime market, which meant they took a big hit on their profits and c) it’s the first time ever that FB lost users), and the stock was devalued 20%, wiping $200BN off the value of parent-firm Meta. Of course, founder Mark Zuckerberg was quick to come up with the excuses, par usual (ever notice that it’s never his bad?):