Meta crash

[MBE2017]

Zuckerberg its leader now has the record for the largest loss of personal wealth in history.

Meta has lost $676 billion this year, a 25% fall in value today alone, whilst Zuckerbergs personal wealth has dropped from an estimated $142 billion to just $31 billion now.

I’m sure he will manage to survive, but the big question is will Meta survive, or become the largest tech stock to be wiped out in history?

 

[Mark T Jones]

The biggest impact is on his ego; like you say he has more money than anyone (except Elon) could ever spend.

That said, market cap is really not a meaningful gauge of anything except opinion on that day.

 

[fisicx]

Investors are now starting to question his plans for the metaverse. He has said it could eat through $100B and still not work.

 

[HFE Signs]

Facebook was in trouble with all the bad press, they decided to rebrand and develop Meta as a bigger and better platform. Meta doesn’t work very well with adds-manager and never has, the system for Facebook advertising isn’t great. I can’t see a full recovery for Meta unless they solve all the issues with iOS and make it more functional for advertisers

 

[thetiger2015]

It's a very disjointed platform/mix of platforms. It seems they've been distracted by this idea of virtual worlds and people having virtual drinking buddies and meet ups in virtual parks. All stuff that was dead over a decade ago, because they've not understood how real people operate.

They need to fix the issues with Instagram/Facebook advertising and making the platform much easier to use for businesses. At the moment, it's just awful and not iOS friendly, not joined up, you have different reporting systems in different places and the advertising dashboard is just way too complex and requires you to log in to your personal account to view your business account. Why? That's awful. Nobody wants that if you're using FB/Insta for business. It's amateur and a poor UX.

They've tried to bring it all under the umbrella of Meta but all the URLs are still FB or Insta links and the dashboards are hidden in each platform separately. It's a mess. That's why the ad revenue is drying up. They're not fixing the current problems.

 

[Financial-Modeller]

Apparently, even Meta staff are not using / beta-testing the platform that they are developing.

I expect Zuckerberg will buy Roblox in due course.

 

[Karimbo]

I dont get it. I am not in tech so this is just my laymans opinion.

We always had something like metaverse it's called secondlife and it's used by a certain type of person who spends all their time in alternate reality world online.

For me services like whatsapp, twitter, facebook exploded because ease of access. They blew up with smartphones. Anyone who has 5 seconds to spare can quickly glance at their phones at catch up.

Metaverse - you need 3D goggle headset and a powerful computer to log in. Nobody is going to do that in public - it's just weird and dangerous.

It can only be a niche platform for a few diehard proponents and just by virtue of that it will be weird and uncool to be on there.

Sometimes you have more money for your own good and you can't do anything but waste in on stupid projects, metaverse and neom project will bankrupt their respective owners. But it wont all be for vain. Construction firms (for NEOM) and 3D peripheral makers (for metaverse) will make a killing supplying this craze.

 

[UKSBD]

Metaverse - you need 3D goggle headset and a powerful computer to log in. Nobody is going to do that in public - it's just weird and dangerous.

Mobile phones used to be the size and weight of bricks, battery packs even bigger and initially car horns were ringers and people sat in their cars to use the phones.

Who knows what devices people will use in the future
We could just be sat in a chair and have a 2-week holiday anywhere in the world.
Just don't go to Mars afterwards.

 

[The Byre]

Metaverse - you need 3D goggle headset and a powerful computer to log in. Nobody is going to do that in public - it's just weird and dangerous.

It could also make visiting porn sites very embarrassing!

 

[fisicx]

It could also make visiting porn sites very embarrassing!

Will they also provide attachments? Asking for a friend.

 

[garyk]

I dont get it. I am not in tech so this is just my laymans opinion.

We always had something like metaverse it's called secondlife and it's used by a certain type of person who spends all their time in alternate reality world online.

Exactly my thinking. Second Life has been around for 2 decades and maybe it was ahead of its time but it never took off massively and just about exists for a niche that are into it. So Zuck had a peek into how viable something like this is.

My own thoughts are he suffers from confirmation bias (delusion?). The problem with hitting your first startup out of the park is that you believe you have the midas touch and so whatever you choose to do after that is definately another winner!

 

[Mark T Jones]

. The problem with hitting your first startup out of the park is that you believe you have the midas touch and so whatever you choose to do after that is definately another winner!

It's a valid point. At a mundane level second round VCs will frequently remove the founders from the board, as the skills required are very different

 

[The Byre]

It's a valid point. At a mundane level second round VCs will frequently remove the founders from the board, as the skills required are very different

What got you here won't get you there! Written by Marshall Goldsmith, published by Profile. I've got it somewhere stashed. Good book!

On the wider point of Meta - Mr. Zuckerberg has more than enough money and all that wealth is not real money anyway - shares are just a vague promise of wealth that may (or may not!) happen. You have to sell them and convert the proceeds into something of value - then you have real wealth!

But he is looking forwards to a future that will not use goofy headsets and mobile phones, but what is called AR - augmented reality. Glasses that translate from any language straight into the ear, that add information to everything you see, that recognise people's faces - even the ones you have never met before, that allow you to read a paper or watch a programme - anything and everything that you can see and hear.

There is even research into getting that all into contact lenses - power supply being the largest problem yet to be solved.

But the smartphone is very much an interim technology. Like the CD player and the cassette and those dreadful digital tape video machines and cameras, they were always doomed to be very popular and then quickly forgotten!

 

[MBE2017]

Meta earnings down by almost 50% in the last year, rumours of potential high job losses for the companies 87,000 workers.

 

[Bob Morgan]

Good heavens! If Twitter and Facebook disappear, what will the Police do all day?

 

[HFE Signs]

Good heavens! If Twitter and Facebook disappear, what will the Police do all day?

I think it's fair to say the world was a better place before social media

 

[Bob Morgan]

I think it's fair to say the world was a better place before social media

Definitely . . . Bring back the days of Local Newspapers! - With gripping headlines such as 'Vicar Grows Beard' and 'Woman Slips on Mossy Patch!'

 

[The Byre]

"Said he came to read meter!" sobs Sidcup housewife.

Then there was the saga of Trevor Norkit, verger at a local church, who got a two-year suspended sentence for "Exposing himself at a window in an sex act that involved a jar of Bovril, a length of string and a lighter."

Where are these incurable romantics in this, our hour of need?

 

[The Byre]

I nearly forgot the story that got a half page in the Inverness Courier about local undertaker Andrew Ferguson, who was visited by a saleswoman from Yellow Pages.

He stated that he was ready to sign up to a display ad for another year and left the room to get his favourite pen.

He returned wearing nothing but a plastic mini-kilt and carrying a whip. He then proceeded to expose his buttocks to the startled saleswoman and handed her the whip with the words "Beat me, Mrs. Robertson! I've been a naughty boy!"

 

[Bob Morgan]

The 'Mossy Patch' headline is from the Pontypridd Observer. The 'Bearded Vicar' I believe is from the Bodmin area - The cutting edge of journalism!

However, my all-time favourite is from the Sunday Sport. I was in hospital at the time after stomach surgery. The newspaper had to be removed as I could not stop laughing . . . "Alien is the father of my child but my husband calls me a.slag!"

 

[Fagin2021]

"Chip pan fire in Aberystwyth" - Cambrian News
"Man fined for driving with broken headlight" - Tivyside Advertiser

You lot need to try harder to beat us here.

 

[IanSuth]

Also rather than teenagers holding their phone at 45 degrees for a selfie we could back to the days of the local photo journalist taking a picture of a housewife with a scowl in front of whatever the offending story was about - either stood arms crossed on chest or pointing at it in an accusatory way

 

[IanSuth]

or how about this current belter

Why you might see a man jumping into cold water every morning

JUMPING into cold water every day sounds like most people's idea of a perfect nightmare.

www.gazetteandherald.co.uk

or

Bradford on Avon Council probe fireworks display that couldn't be seen​

 

[Bob Morgan]

Also rather than teenagers holding their phone at 45 degrees for a selfie we could back to the days of the local photo journalist taking a picture of a housewife with a scowl in front of whatever the offending story was about - either stood arms crossed on chest or pointing at it in an accusatory way

Quite unbelievably the Daily Fail still does that!

 

[simon field]

Quite unbelievably the Daily Fail still does that!

Known in our local press as ‘Sad Compo Face’

 

[intheTRADE]

Access Restricted

----------------------------------------

Meta is planning to begin mass sackings that will affect thousands of workers from this week, adding to the mounting job losses across Silicon Valley.

The Facebook owner could begin the layoffs as early as Wednesday, the Wall Street Journal reported. It has already told employees to cancel non-essential travel from this week.

In September, chief executive Mark Zuckerberg outlined plans to reorganise teams and reduce headcount for the first time following a sharp slowdown in growth. He said Meta will likely be smaller in 2023 than it was this year.

 

[Karimbo]

oh wow, it's really going down then. I've never seen a company do mass layoffs and then rebound and grow. Has amazon or ebay does mass layoffs in their growth?

Sure there were a few periods of firings but these were always intended to fire and replace new workers to take the company towards a new direction.

 

[Financial-Modeller]

"Chip pan fire in Aberystwyth" - Cambrian News
"Man fined for driving with broken headlight" - Tivyside Advertiser

You lot need to try harder to beat us here.

I usually try to substantiate posts with links but you'll have to excuse me for not doing so on this occasion...

I recall the front page of Stroud News a few years ago ran: "Dog mauls Sheep"

 

[Bob Morgan]

We shall soon be talking about Facebook and Twitter in the same way as Supercalc and Wordstar!

 

[MBE2017]

Facebook fire 11,000 staff.

 

[IanSuth]

We shall soon be talking about Facebook and Twitter in the same way as Supercalc and Wordstar!

I have a copy of Vu-Calc for 16k ZX81 on cassette here if you want it (honestly it is sat within 3' of me)

 

[simon field]

I have a copy of Vu-Calc for 16k ZX81 on cassette here if you want it (honestly it is sat within 3' of me)

Don’t suppose you’re interested in a 48k ram pack?

 

[IanSuth]

Don’t suppose you’re interested in a 48k ram pack?

Will it fit my Spectrum+3 (that is 128k already) - i think the only 48k ram packs for the zx81 were from a company called something like MemPak - they were white with a dark horizontal stripe

I also remember if anyone trod too heavily in the room the 16k sinclair OE ram pack would wobble a bit and the machine crash losing whatever you were doing

 

[Karimbo]

I thought you two talking about really cutting edge stuff, I thought 16k, 48k 128k were pixels.

 

[Bob Morgan]

I have a copy of Vu-Calc for 16k ZX81 on cassette here if you want it (honestly it is sat within 3' of me)

If nothing else, Clive Sinclair and the ZX81 got people into using computers. At that time during Uni Days we had to prepare Heat Loss/Gains for Project Buildings. The Maths and Logic were sound. However, the 'Computer' we used looked like a 'Turing Relic' from Bletchley Park! - A printer sat chattering away in the corner, as if were about to churn out the Football Results. I had studied some computing before Uni, learning a little FORTRAN and BASIC - WITHOUT COMPUTERS! Manual Coding Sheets from ICL were used.

The Uni Colossus Machine became too much of a liability as it was unreliable, so I devised a series of Manual Worksheets, and crunched the maths on a calculator. During a period 'Resting' and with a hand-me-down ZX81 (Complete with Wobbly Extended Memory) I transferred the Worksheets into BASIC. It was something of a 'Light-Bulb Moment' as this brought together Mathematical, Boolean and Logical Functions - Now it all made sense!

The structure of the Uni Programme, and the Worksheets was the basis for the BRE Energy Rating Calculation we use today. ZX81 Basic gave way to IBM BASICA and then eventually everything was compiled to Spreadsheets, which I still use today.

As with your VU-CALC cassette, I still have the ZX81 BASIC Manual on my Bookshelf.

 

[Bob Morgan]

I thought you two talking about really cutting edge stuff, I thought 16k, 48k 128k were pixels.

You had to use your television as a monitor back then, and a Disc Drive came in the form of a Cassette Recorder! - That was 'Cutting Edge' for 1982!

 

[PCD]

I still have my ZX81 and 16K ram pack but I have not tried to use it since 1985 when I got my Amstrad CPC464. I doubt the ZX81 could be used now as I don't have a cassette tape player and could it even be connected to a modern TV.

 

[johndon68]

I still have my ZX81 and 16K ram pack but I have not tried to use it since 1985 when I got my Amstrad CPC464. I doubt the ZX81 could be used now as I don't have a cassette tape player and could it even be connected to a modern TV.

As I recall, it connected to the TV via the aerial socket so it should still be possible.