Facebook lost 123 billion dollars in just two hours after it announced its slowest-ever user growth rate indicating that its revenue growth would go down. It’s share price fell by more than 20 percent (huge) after it announced its Q2 results.This has happened before but not to this extent.
The stats that led to this fall
Facebook’s monthly user count grew just 1.54, compared to 3.14 last quarter
Daily active users grew even slower at 1.44 percent, compared to 3.42 percent last quarter
Monthly user count in Europe, from 377 million to 376 million. It got stuck at 241 million in the U.S. and Canada after pausing at 239 million in Q4 2017 (Europe, U.S and Canada are it’s most lucrative customers).
Why people aren’t going on facebook anymore
They prefer other social networks such as Instagram , Whatsapp and Snapchat.
New privacy controls and new experiences like Stories others say too much politics
Here’s is what 123 billion means to Zimbabwe:
It’s almost 10 times our GDP. Our country would need almost 10 years to cover this loss.
It could employ everyone in Zimbabwe and pay them minimum wage for almost 2 years. Or instead just buy everyone 2 basic ex jap cars.
It could cover all our national debt. Infact we could be reckless and make our debt 10 times more and 123 billion would still cover it.
It could buy all the companies on the Zimbabwe Stock Exchange. Actually it could buy 10 similar Zimbabwe Stock Exchanges (if you know what I mean). I am pretty sure it could buy all the companies in Zimbabwe.
Don’t let me get to our annual budget. It could actually sustain this country for 20 years.
The only thing that can try to match up to this loss in Zimbabwe is corruption. Corruption can make 15 billion dollars disappear like nothing…..