:officer-down:
36% loss in net income. :inshallah: may their demise be swift and painful.
When you look at the millenial share of the wealth in the USA its depressingly low. Then you find out Zuckerberg represents like 40% of that.
:gui-better:
I was curious about this. It's only 2% for Zuck alone, but if you take just the top handful 40% is about right.
https://minnesotareformer.com/2021/08/11/millennials-are-the-largest-workforce-and-the-least-wealthy-why-politics/
If you had worked hard and deleted your moral compass you too could be as rich as almost half of your generation.
Genocides were organized on FB in languages FB had no moderators in, no one went to prison, and Zuck owns half of a Hawaiian Island now.
Fuck that, how is that even possible?
But web 3!
Fb is basically a forum for me. No one i actually knows uses it still. I'm just using it like i used forums in the early aughts
Me and a friend tried getting one of our chat groups to migrate to a different platform, mentioning the ethnic cleansings that have been facilitated on the platform, but a couple of the people are huge libs and didn't respond. :doomjak:
Just start talking on the other one. ‘Oh, sorry, we arranged that over on Signal/Telegram/Bebo’.
Keep using your new platform. When the incumbent platform falls or goes too far for even the libs to tolerate people will switch to whatever has the least friction and most name awareness. This is how shit platforms become monoliths in the first place, noone is sitting down and analyzing the options they are going with whatever the first thing a friend suggests or they vaguely remember hearing about and then being weirdly loyal to that platform forever.
I’m so happy I got my friends to switch to Discord, I haven’t had a Facebook account at all in like 3 years
Of the tech giants, maybe one of the most surprising one that people invested heavily into. Like their maintained success is a complete anomaly in social media, and largely dependent on them buying the next big thing. The other tech giants (maybe netflix excluded) are in businesses where it's tough to start a competitor and the user base isn't particularly fickle, they also have massive government contractors. Besides the immediate returns on investment, how did people thing facebook would have similar staying power?
Facebook has owned Oculus for a while though. The bought their way into a fledgling industry before it was popular in order to dominate it.
the manifest insecurity of trying to get everyone to identify them with their new reality-shattering sci fi platform before they had any kind of product to show. it's like if Google had gone all in and changed their name to Orkut.
I mean Google did change their name, to Alphabet, and it similarly hasn’t stuck at all
MARK ZUCKERBERG is going to BINGE on a thick bottle of SWEET BABY RAY’S
i think the next Big One will be the collapse of the entire "tech" industry as one by one the various avenues for the potential Next Big Thing fail to yield returns for investors, and advertisers begin to question whether they're getting their money's worth from the data brokers.
Unfortunately I don't think that much will happen because there just aren't enough tech workers compared to the rest of the economy. It will be funny to watch the seething on hacker news though.
There also aren't enough nurses or medical assistive staff, but that hasn't really meant that conditions haven't been turned to shit. Companies will inevitably make every working class person part of the precariat in due time.
I wonder what will happen if suddenly their situation becomes just as precarious as other workers.
I'll probably be fucked.
I agree, the advertising is the key part. Like half of the internet economy is built on the idea that online ads are a good way to market. If people lose confidence in that, a lot of tech companies are disappearing.
Okay so is this where the harsh part of the crisis starts?
They didn't even lose money, they just made less money and that's somehow a catastrophe for them.
Capitalism is the most efficient and logical system.
reminds me of
“[Capitalists] act as if they are being chased by a bear,” wrote Zhang Lin, a Beijing political commentator, in response to these comments. “They are powerless to control the bear, so they are competing to outrun each other to escape the animal.” [14]
