Submitted by SUPRVLLAN t3_yf8sns in technology
Comments
VincentNacon t1_iu2caru wrote
Now that's what I'd call a Solid-Progress for the rest of us! :D
shillyshally t1_iu2ceov wrote
Meta Platforms Inc $97.94 Down 24.56% -31.88 Today
quadrangle3136 t1_iu2eo0s wrote
This was inevitable.
Imaginary_Goose_2428 t1_iu2gsur wrote
I'm going with "Faceplant"
Negative-Industry-88 t1_iu2hakn wrote
Add revenue is drying up, Meta being down a while would not be a surprise.
TheMicMic t1_iu2hdw4 wrote
"Grandma's News Source"
InterPunct t1_iu2hmef wrote
The entirety of the software industry shows being an innovator almost always ends in failure until the next guy learns from you and does it a thousand times better.
Zuck is not wrong, this is epic and for the ages. Possibly as big as the Industrial Revolution. Bankruptcy for him and Facebook would not break my heart, though.
[deleted] t1_iu2i6qt wrote
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SuperSimpleSam t1_iu2jejx wrote
Think he thought he could be the rich guy from Enter Ready Player One.
arcademachin3 t1_iu2mnhb wrote
This is the power of Apple. Meta was reaping billions from iPhone data for targeting users with ads, and providing brand analytics teams insights on what ads work best. All on Apples back. So Apple Thanos snapped them so hard FB changed its name and tried to build Ready Player One on the one platform zero people would want to meet ingame. It’s like a missile hitting a helicopter and calling the downward spiral “flying.”
SaintEyegor t1_iu2n5tn wrote
ZucksShucksBux
He needs to be unemployed.
ratcuisine t1_iu2odpl wrote
Yeah me and my friends at FAANGs are predicting a crash in high end tech pay over the next few years. Stocks won’t be refreshed across the industry over the next few years and people will hit their four year cliffs. But then they won’t have anywhere to go to re-up their pay.
It’s been a good couple of decades being overpaid but it had to end at some point.
745395 t1_iu2onv0 wrote
I swear you mfers act like Apple rules the world. The world is better than the US market.
[deleted] t1_iu2opc0 wrote
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arcademachin3 t1_iu2pwoj wrote
I am not even an Apple fan per se. I have all kinds of devices. But I have worked in advertising for 20 years and I know a kill shot when I see it.
jeffyoulose t1_iu2u9qd wrote
It's going to pop once news hits that the fed might be slowing down or stopping the rate hikes. All these stocks are going to pop. So better to buy the dip now.
jeffyoulose t1_iu2uhju wrote
Don't rule out Zuck yet. He has smart people working for him. Metaverse isn't something you can easily replicate -- without all the hardware. Patents will also prevent competitors from scooping up the innovation. Especially wrt the VR hardware.
jeffyoulose t1_iu2uqjj wrote
Netflix was going to name the DVD rental business "Qwikster" but it got soon quashed after the stock over corrected. Funny how nowadays the mail in business is completely gone like Blockbuster
tonytexe t1_iu2v80w wrote
Ever heard of this company called Apple?
flippzeedoodle t1_iu2vt0i wrote
The future metaverse winner will be made by some teenager in their basement making the next Minecraft, and it will win because of a feature involving dancing puppies with interchangeable outfits.
Its_Por-shaa t1_iu2x9ej wrote
Facebook is a cesspool that most people would agree that their life would be better if FB never existed. My only concern is what the replacement is.
baddadjokesminusdad t1_iu2xh81 wrote
metastasized
[deleted] t1_iu2y0y4 wrote
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ratcuisine t1_iu2yggf wrote
Not a bad idea. Wish I had stockpiled more before all this crazy inflation hit.
[deleted] t1_iu2z4qn wrote
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SylvesterStallownage t1_iu2zsn2 wrote
Ready Player One* nitpicky I know 😔
jdmcnair t1_iu316ib wrote
Stockpile, yes, but I don't think going for a secondary skill is necessary. It's not like people in tech are going to suddenly not be able to find work in tech, it'll just be less lucrative. I'm willing to bet it'll still be more than most people in other industries will make.
Edit: I mean, I guess there's always the post-apocalyptic scenario, which isn't out of the realm of possibility. If that happens it may be helpful to have secondary skills in making football pad armor or knowing how to make fuel from pig shit. But, as long as civilization still stands, I don't think tech people need to start hedging their bets by skilling up as an accountant or something.
strangeapple t1_iu31n7l wrote
Methlab?
[deleted] t1_iu31nyp wrote
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jdmcnair t1_iu323bo wrote
See edit above. I think it speaks to some of that. People in tech may make less than they have been, but they'll still be in demand for tech, and still make much more than they would by pivoting to a new career.
anonperson2021 t1_iu388lf wrote
Zuck will be fine even if meta goes down the drain, no? Partial exit and all?
Innovation spikes and falls, but a partial exit is enough. Even MySpace Tom made enough to never have to work again (the man likes to travel, I hear).
Either way I don't think Zuck is anywhere near bankruptcy, and never will be unless he does extremely stupid things with personal finance.
[deleted] t1_iu3d0g1 wrote
erotic_sausage t1_iu3i4mh wrote
Lets stop shitting on Zuck and his metaverse. He might finally come to his senses and pull the plug, and facebook will continue to be a cancer on our society.
nicuramar t1_iu3l8me wrote
> most people would agree that their life would be better if FB never existed.
I'd really like to see some numbers to back that up. I highly doubt that's true.
Albertsongman t1_iu3piwz wrote
Zuck is a cluck. 🐔🫤
nicejaw t1_iu3vd45 wrote
It’s okay if tech salaries drop because the pandemic and remote working has created a new trend: dual employment.
AuthorizedShitPoster t1_iu3xcu9 wrote
When are we gonna stop refering to Meta as "Facebooks parent"?
jeffyoulose t1_iu3z409 wrote
Apple doesn't have any VR hardware. In fact they haven't really had an innovative product since Job's death. iPad. Was the last big product. Now they are just milking off iphone and ipad.
slowslownotbad t1_iu42ji8 wrote
Rumour is the Apple VR product launches next year.
If they focus on professional work rather than BS social media I can think of a few use cases that’ll be big.
SuperSimpleSam t1_iu43ed2 wrote
No, that's a fair correction.
[deleted] t1_iu4dlq5 wrote
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pinkthermoses t1_iu4fr7f wrote
What was it that Apple did that fucked over Meta so bad?
jeffyoulose t1_iu4hrwl wrote
Yeah like in construction and architecture. Being able to annotate a building with instructions to the builder on how to frame, plumb, ventilate would be great.
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tonytexe t1_iu4xj5s wrote
Honestly I think it will be live sporting events that will change things. If camera tech can get there, you’ll feel like you’re sitting courtside… if Apple nails that, then yea…
arcademachin3 t1_iu4zjdy wrote
Someone can explain better than me but they made it so everyday people have to agree to Facebook tracking rather than just by default. Sadly (or not) this change melted facebooks business model.
DxLaughRiot t1_iu5cliv wrote
They hide your device ID by default now.
Essentially this means Facebook cannot build up a comprehensive profile on you and sell it to advertising agencies/data brokers/etc without asking you for your permission.
This is meta’s entire business model so it was a huge gut punch.
DxLaughRiot t1_iu5dbrh wrote
This is pretty much my take.
I got an oculus and have been playing with it and it’s pretty damn fun. There are loads of issues, it’s glitchy af, and right now it’s pretty empty but overall I see loads of promise. And the way it’s being built is so that others will build on top of Meta’s work and make their own money. They want to build a platform that people can make a living off of. It’s huge.
The problem is Zuckerberg has killed all good will people have with him now. There’s no way he’s going to build the cool new internet because his name is just toxic. They really need another face in front of it, or someone who knows how to sell the vision better because when I hear that lizard robot tell me this is the future I want to run the other direction.
melted_cheese t1_iu5s6uw wrote
Meta is halting hiring for all of 2023? Source?
domino2064 t1_iu5tdzs wrote
Probably, but I do agree. I just can't believe they went all in on VR and the metaverse just as other companies, studios, etc were cutting back due to lackluster demand and the fact that the lack of standardization has made it difficult for studios to guarantee that content will work across different VR setups - ie Oculus, Vive and Windows Mixed Reality (ie everybody else), often leading to proprietary or semi proprietary content that either works on a single device or only a couple of devices.
With that said, the average person isn't buying a headset... So why did meta think they could talk said average person into dropping $300+ on theirs?
ThestralDragon t1_iu5tn1n wrote
Its an exaggeration, the apple change affected meta by like 4%(not exactly a killshot), their valuation is in free fall because
Most tech companies are seeing a reduction in their valuation
They're burning Billions in their VR/AR R&D
skinlo t1_iu5uvxf wrote
> ragged up tech worker pay as much as it did the last decade.
Not necessarily a good thing (for the country, great for the tech people).
arcademachin3 t1_iu5vrvn wrote
FB is uniquely vulnerable to the decline in MAIDs available for mobile advertising. I’m curious where the 4% comes from?
xeen313 t1_iu66t4a wrote
I would agree the world would have been better off without them. Like reddit, it's built on engagement and the system is self reinforcing on negativity. Perhaps there's data that show the vast majority of people prefer to be in that state but shouldn't we push for the opposite? Perhaps myself and others would have seen a lot less murders because society doesn't glorify these kinds of actions and push others to copy cat so they can 5 minutes in their sun on there way to hell. I don't know I'm just some guy...
lostpawn13 t1_iu7tfui wrote
He really thought that a crappy bootleg version of second life would save his company. I hope he wastes more money on that failure.
TotalCharcoal t1_iubk1rv wrote
They're not halting hiring. They're keeping headcount flat in 2023. They'll hire to replace those that leave.
Other tech is doing the same thing.
ohnourfeelings t1_iu2a09o wrote
Good let’s go margin calls on the hedgies