Facebook, Twitter learn important lessons about growing up in very special DNRUM
Well, let’s calm down here – it’s not that special. You still Do Not Read Until Monday.
Fake News Fight Strikes Profits for Facebook, Twitter
As quarterly results roll in across the tech landscape, we’re generally treated to the same winners and losers. Amazon and Google routinely kill it, Twitter’s usually a toss-up and Faceboo—wait, Facebook tanked?
Indeed. Mark Zuckerberg’s mighty social-tech machine faltered for what seems like the first time in forever, with many attributing its failure to continued controversies across the past several quarters.
Facebook missed revenue goals, and monthly and daily active users declined significantly in major markets. The effect was staggering: A $124 billion decline in value – or about 25% – for the largest stock market tumble ever. Like, forever ever.
After over a year, I feel like I’m allowed to recycle jokes.
Facebook wasn’t alone in its woes either, as Twitter took a hit as well, but in its case, this was viewed more as effects from its efforts to clean up the platform. Twitter actually turned its best profit yet – $100 million – but saw a million-user decline. Twitter’s value declined 17% after the announcement. However, CEO Jack Dorsey said the company’s playing the long game, assured that quality users over quantity will help healthy and profitable platform growth.
While it’s unlikely this will be Waterloo for either company, it is a clear indication that social responsibility will hamper unbridled profits, but also that neither firm is flinching in the face of that prospect.
Odds + The End
- LinkedIn continues to ask ‘can we’ instead of ‘should we’ and launched voice messaging.
- I mean, 28 seems kinda low tbh.
- Twitter’s supposed ‘shadow ban’ has produced some unlikely bedfellows – President Trump and sex workers.
- OK, maybe not that unlikely.
- Also, “shadow ban” sounds like something a 7th-level mage might do; Twitter of course denies it has such spellcasting abilities.
- In the same week, Facebook and YouTube both dropped bombs on InfoWars, with Alex Jones getting a 30-day Facebook ban, and four videos removed from YouTube for hateful and violent messaging.
- Snapchat lost its glasses … division leader.
- In a world where people inexplicably think it’s OK to operate a generator indoors, one government Twitter account is hoping to prevent some Darwin Awards.
- Google Drive probably has a billion users.
- Elon Musk has risen above at least one controversy: He’s reached an agreement to compensate that dude who drew the farting unicorn. #priorities
- Slowly but surely, Apple is building its customer service iMessage offering.
- Samesies on the HomePod, which may be able to make calls soon.
- RIP Snapcash. 💸
- Uber passed 10 billion trips taken.
- YouTube’s trying to enhance content discovery through an ‘Explore’ feature and emphasizing hashtags.
- Facebook has combined two tried-and-true forms of idleness – watching videos and checking social media – into a brand new one: Watch Parties.
- Slack remains the hot chat app, besting HipChat and garnering investment from Atlassian.
- Spotify stays a step ahead of Apple in streaming with 180 million users, but also took a pretty nasty quarterly loss.
- In a strange twist, Netflix’s BoJack Horseman is headed to Comedy Central (!).
- July 27, 2018