Will Facebook survive the storm?
It started with an outage no one expected.
An outage that saw Facebook deleted from the internet, with sister sites Instagram and WhatsApp, may spell the end of the social media giant’s domination, some believe.
In a couple of hours, Mark Zuckerberg lost US$ 07 billion with the outage. Facebook lost a revenue of around US$ 65 million during the outage.
But even more than the loss of revenue, loss of reputation, status and integrity is on its way to undermine the success of the mammoth social media site.
Worse still, a whistleblower who blew the lid off Zuckerberg’s algorithm related issues. There were concerns about misinformation and mental health concerns.
Has time come for the world’s largest social media platform to be regulated?
Many seem to think so.
As Zuckerberg may face probes and investigations over the alleged Facebook missteps, the world is waking up to the story of how a smart young techie captured the world with the social media app he designed for his college mates.
What really will happen to Facebook?
What is very clear is that no longer can it play God – choosing what the people must see and what they shouldn’t.
Frances Haugen, the whistleblower former Facebook employee, has the necessary data to back up her allegations about the social media giant knowing many negative things but holding them back from its users.
In other words, Facebook decides what you get to see and what you don’t.
For an example, Haugen cited that Instagram content was harmful to the mental health of teenage girls.
Or deliberately holding back information , amplifying hate and political misinformation. Haugen’s research backs up the accusations.
Haugen talks about how Facebook prioritised what was good for the company over what was good for the public.
Facebook is a social media app like no other – millions share information on it daily and stay active. They are exposing themselves constantly to what the social media giant decides should be seen and shared.
How did it become this way?
When social media apps started, they were not so monetary driven as they are today.
This is particularly true about Facebook. In fact, it has now become the norm to see more Facebook ads or sponsored content than actual content shared by friends or interest groups.
When revenue becomes a priority over all else, often enough it signals the beginning of the end.
For Facebook and Zuckerberg, the explosive growth signalled the beginning of a new era of communication.
No one has tested the waters of engagement as Facebook had – and the resulting revenue was too good to be true.
What next for Zuckerberg and Co?-
Chances are that this will not be taken lightly.
Will Facebook survive the storm?
Legislatures have tried previously to take Zuckerberg down many times – it has been tested.
This time, with the data to back up claims like never before, chances are that regulations and restrictions may apply to Facebook – or may even bring it down altogether which analysts do not rule out.
But the fact remains that Facebook is too big to see a decline too soon.
It may eventually come as more and more people move away perhaps – the Facebook outage saw many move to Twitter and some who were using WhatsApp to Signal.