In response to the recent news of Facebook's massive drop in stock value and first ever decrease in active users on the platform, what are your thoughts on Facebook and it's future?
If you haven't seen the articles check here.
As the article above mentions, they're still profitable but betting heavily on the "Metaverse" working out and becoming the next big thing.
Personally I don't use Facebook anymore beyond Messenger and social event planning and I don't see many of my own friends doing much more on it beyond that.
Add to that all the ethical and PR disasters they've been involved with in recent times and it paints a pretty negative picture.
However, it's undeniable that they still have a ridiculous amount of user data that I'm sure could produce profits for quite some time even as users slowly pull away.
On VR and the Metaverse, I am admittedly tempted by the lower price and simple setup of the Oculus Quest 2 versus the other alternatives.
But it's still $479 for the device and more money to buy an elite/3rd party head strap to improve comfort.
Add to that the games and apps and you're easily spending $500+ on a device that ties you to Facebook/Meta's VR ecosystem.
I also wonder how long they'll be able to sustain their push into the market with VR considering that as per the article above " that division lost $10.2 billion last year".
While admittedly I'm not the most social person - most of the people I know that are into VR don't own the Quest 2 and instead have a HTC Vive/ Valve Index or PSVR.
These are all more "tech savvy" gamers and not the typical internet user, beyond that I haven't heard of any other people I know go out to buy one.
When you put that perceivably slow adoption rate of their new platform, along with iOS' update to ask for tracking permission and the beginning of a decline in Facebook userbase it seems like the Zuck is in a bit of a pickle.
What are your thoughts? Do you think they'll survive and thrive or be gone in the next decade?