Facebook stock plummets 8%, wiping out $50 billion in market value

Instagram is likely helping a lot on the younger demo.

I know a lot of GenZ kids who don’t even realize insta is Facebook.

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If you have some kind of retirement account, Facebook stock’s likely to be embedded in some mutual fund, target-date fund, or ETF.

But now I see that even an ESG fund like DSI, for example – which is supposed “to track the investment results of an index composed of U.S. companies that have positive environmental, social and governance characteristics as identified by the index provider” – might have Facebook holdings. DSI’s underlying index “aims to select companies with the highest ESG Ratings in each sector and maintain sector weights similar to those of the parent index. In addition, it excludes companies incompatible with a common set of values screens: alcohol, tobacco, gambling, civilian firearms, military weapons, nuclear power, adult entertainment and genetically modified organisms (GMOs).” But the index’s second-biggest investment is in Facebook, which is not what I figure DSI meant by “Social ETF.”

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I don’t have that kind of income yet. Technically i do but my debts require i prioritize them above 401K

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Ha, right? I have encountered that irony: Screw Fuckbook, man! That’s why I’m on Instagram!

Many also use Whatsapp a lot, which is also a Facebook asset.

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So very glad I never signed up for this. It has never stopped being creepy to this particular introvert.

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It doesn’t matter whether or not you signed up for it. If you live in a country where fb is popular at all, then it’s likely your friends and family have volunteered enough data about you that fb has created a shadow profile that is being sold around to target ads at you.

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BB regularly serves me up ads for plus-sized ladies wear and swimsuits for full-figured women. I’m 150 pounds of man, baby.

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:man_shrugging:

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The day they stopped letting you use messanger on your phone’s browser to force you to install one of their apps I had a come to Jesus moment and deleted every comment, every post, every photo, every friend. Kept the account dormant like that for a year and then deleted it. The day they bought Whatsapp, that $#@% went in the bin as well.

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“Ads? What ads??” said this user of uBlock Origin.

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He won’t get the message, but this is great.

I am super fuck3d off with Brexit and am prepping strategies. This is great news - one strategy was to build a big base of spoofers and ad-clickers to reverse-engineer the advertising model on FB and spike expenses for advertisers so they kick back hard.

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Facebook coughs up $550m to make AI photo tagging lawsuit vanish. How ever will it survive on that $17.9bn left over?

Any time I have to use the internet without an adblocker, I wonder how people cope. Online advertising is so obnoxious!

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Dangerous too.

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Hooray! I’d post this to Facebook, if I didn’t delete it in 2016.

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Facebook Container will presumably mitigate this by blocking “Like” buttons, “Login with Facebook,” etc. on other non-Facebook webpages. (And if you do visit Facebook, it will only run within the Container.) Unfortunately it doesn’t work on Firefox for Android (nor, from what I gather do any containers). But one of the blocking lists in uBlock (which does run on Android Firefox) has something or other about blocking social media; just not sure whether it works in the same way (or as well as) the Facebook Container.

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For real, I want to get off Instagram for the same reasons I got off Facebook, but at this point I’m like, whatever sites I end up using, will Facebook just buy them too? I don’t have any social stuff other than Insta and Pinterest. I’d like to not be a complete hermit though.

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Does this site count? Thing is, I don’t know anyone who’s on this website in person, and vice-versa.

Please use proper scare quotes with the phrase “market value.”

I consider this place more like a forum than social media.

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