The Facebook Fast
Facebook Real Estate Marketing
Recently I took 3 weeks away from Facebook to focus on some more pressing projects that need completion. I would probably say that I was more content during those 3 weeks. Also, I realized just how much time Facebook was taking up in my daily routine. Apparently, I'm not the only one spending less time on Facebook. According the the FastCompany.com, Facebook recently saw a decline of 18% of users' time spent on the website, and as much as 24% decline in use per person.
>On the positive side, I have found Facebook offers a great way to market and connect with old and new friends, past clients, and new clients. I don't plan on totally giving it up. Be well!
Update March 19 2018: Was Facebook user data hacked? The New York Times runs an article indicating that Cambridge Analytica harvested Facebook user data. In, another provocative Newsweek article, apparently, Snowden is claiming Facebook is a surveillance society. Upon this news, Facebook stock was down 8%, followed by continued declines over the next few days. News breaks on March 27, 2018 that Mark Zuckerberg may testify before Congress as tensions between lawmakers and legislators mount. The Senate Judiciary Committee has asked Zuckerburg to appear in April over Facebook's date privacy.
Update March 28 2018: Three users of the Facebook messenger app sue Facebook seeking class action status for all users over the unauthorized sharing of users' data. The National Fair Housing Alliance has sued Facebook alleging that Facebook allows land lords and real estate agents and brokers to discriminate in advertising by excluding certain protected classes from seeing ads about housing.
Tim Cook of Apple Inc takes a jab at Facebook privacy by stating, “The truth is, we could make a ton of money if we monetized our customer — if our customer was our product. We’ve elected not to do that.”
Zuckerburg fires back suggesting Cook's comment may have been shallow, "“You know, I find that argument, that if you’re not paying that somehow we can’t care about you, to be extremely glib and not at all aligned with the truth.”
Update: 07/25/18 Facebook stock gets pummelled in after hours trading after reporting earnings.
07/26/18 Where are the buy the dippers for Facebook? The stock is down roughly 20% in regular trading. Facebook's negative earnings forecast for next quarter is the second surprise for the FANGS after Netflix earnings surprised Wallstreet. Quoting CNBC, "Facebook was on track Thursday to post the largest one-day loss in market value by any company in U.S. stock-market history after releasing a disastrous quarterly report.
CNBC goes on, "Facebook's enormous loss in value came a day after the company reported weaker-than-expected revenue for the second quarter as well as disappointing global daily active users, a key metric for Facebook. The company also said it expects its revenue growth rate to slow down in the second half of this year."
And according to the same CNBC article, "Several analysts downgraded Facebook's stock, including Nomura Instinet's Mark Kelley. "With stagnating core user growth, we think there is too much near- to mid-term uncertainty to recommend shares at this point," Kelley, who downgraded the stock to neutral from buy, said in a note."