Facebook has lost $500 Billion since transforming into Meta and announcing its own Metaverse project. It is stated that the biggest reason for this is Facebook’s wrong policies.
Facebook has suffered serious financial losses since it became Meta and underwent a radical change, including its name and logo. So much so that we heard in the past weeks that the number of users of Facebook fell for the first time in the history of the platform. Now, according to the news of New York Mag, Meta is among the 10 most valuable companies in the world in terms of market value. Berkshire Hathaway lost to Chinese technology giant Tencent. It is stated that the loss of income of the company since embarking on the Meta adventure is 500 billion dollars.
Things are not going well for Facebook Meta
Things have not been going well for the last 4-5 years for Facebook, which was once the world’s largest social media platform and broke new ground. After Zuckerberg’s incorporation of Instagram into Facebook, there were hours of access to both platforms due to a crash in the headquarters.
One of the reasons that trust in Facebook/Meta had waned was that they started making it clear that they were making money by selling our personal data. It is stated that Meta has lost 30 percent of its income at the beginning of this month. On top of all this, it can be said that Meta’s not understanding the concept of “Metaverse” correctly (at least for now) and trying to place systems that will secretly track advertisements and users there, destroyed the trust in the company.