Originally published at: Facebook/Meta shares lost nearly half their value in six months | Boing Boing
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Good. The sooner this toxic company dies or is relegated to the status of AOL, the better.
As for this metaverse play, their ability to deliver on the promises made in that stupid and cringeworthy video will either come too late or (due to the laws of pesky old physics) not at all. Only the stupidest investors won’t understand that.
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I ain’t crying over Zuck losing money, and never will.
Pay your taxes dead beat billionaire.
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I would say “good,” but stock price doesn’t have much of a relation to the health of the company itself, and I’d really like to see Facebook itself deflate by (at least) half.
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If you have a FB account, now’s the time to delete it. I did it 5 years ago and it still feels great.
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The economy is nonsense.
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That’s an understatement.
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The company’s executive management is completely rotten, from the one who just got fired for inappropriate and graphic communications with a 13 year old…
…to the ones who get promoted (although admittedly Zuckerberg couldn’t have found a better candidate for Chief Executive Stooge than Nick Clegg)
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I don’t think this will help
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…except in one notable way - I have personally believed that a sizeable number of folks still working for Facebook (a workforce in excess of 70k) have remained on because of their stock options. I am now hoping this calamitous decline causes them to re-examine their life choices more closely.
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They’ve stuck in there this long, despite everything else… though I suppose because they’ve stuck in there this long, despite everything else, the stock options might have been the only thing keeping them there. Well, fingers crossed.
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But it doesn’t matter to Zuck because the stock retained its value in his meta verse.
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Losing your life savings will do that to you.
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Cory makes, IMHO, a compelling comparison to the fall of Myspace…
https://pluralistic.net/2022/02/17/live-by-the-swordlive-by-the-sword/#unfriending-tom
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That’s very meta.
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Honestly for some devs, they may have been holding 100k or more in unvested stock, and that’s a pretty hard thing to walk away from, which is why companies do this strategy. With every other tech company hungry and ready to hire, this absolutely is a huge impact to their ability to retain employees unless they do something crazy to compensate.
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