Go Back   English Forum Switzerland > Off-Topic > Off-Topic > International affairs/politics  
Reply
 
Thread Tools Display Modes
  #1  
Old 27.07.2018, 14:45
Guest
 
Posts: n/a
The beginning of the end for the Social Media Giants?

Facebook tanked yesterday on the stock exchange, Twitter following suit today after confirming a decline in user figures (I guess that's what happens when you indiscriminately ban people ). Is this the beginning of the end for the social media giants? Are people's habits changing? Only anecdotal, but on the rare occasions I do log into Facebook these days I find that there aren't that many posts made by my friends and that my timeline is just full of random stuff - adverts, posts made by friends of friends etc. Will be interesting to see how this plays out.

Twitter Shares Plunge 17% as Monthly Users Decline
Over $119bn wiped off Facebook's market cap after growth shock
Reply With Quote
The following 6 users would like to thank for this useful post:
  #2  
Old 27.07.2018, 14:49
Forum Legend
 
Join Date: Dec 2010
Location: ZH
Posts: 5,328
Groaned at 58 Times in 48 Posts
Thanked 2,696 Times in 1,612 Posts
SOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

Hallelujah!
Reply With Quote
The following 4 users would like to thank SOBEIT for this useful post:
  #3  
Old 27.07.2018, 14:53
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,086
Groaned at 486 Times in 405 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

it was hideously over valued so you could just say its a normal market correction
Reply With Quote
The following 3 users would like to thank bigblue2 for this useful post:
This user groans at bigblue2 for this post:
  #4  
Old 27.07.2018, 15:00
Guest
 
Posts: n/a
Re: The beginning of the end for the Social Media Giants?

If Facebook would just stop pissing about with their algorithms, maybe fewer people would abandon it?
Reply With Quote
The following 10 users would like to thank for this useful post:
  #5  
Old 27.07.2018, 15:12
Forum Legend
 
Join Date: Jun 2008
Location: Zurich
Posts: 8,035
Groaned at 291 Times in 220 Posts
Thanked 18,179 Times in 6,370 Posts
k_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

I see two main risks for any kind of social media:
1. Stronger focus on data privacy, both in terms of legislation like GDPR but also increased privacy consciousness in society, including people's awareness that they are actually the product instead of the client.
2. for the algorithms, the balance on the thin line between censorship and filtering out truly bad stuff (whatever that might be) while protecting freedom of speech

Facebook doesn't do really well in both areas and will be doomed to fail in the long term.
Reply With Quote
This user would like to thank k_and_e for this useful post:
  #6  
Old 27.07.2018, 15:22
MusicChick's Avatar
modified, reprogrammed and doctored²
 
Join Date: Feb 2008
Location: La Cote
Posts: 16,307
Groaned at 346 Times in 239 Posts
Thanked 18,806 Times in 9,793 Posts
MusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

Quote:
View Post
I see two main risks for any kind of social media:
1. Stronger focus on data privacy, both in terms of legislation like GDPR but also increased privacy consciousness in society, including people's awareness that they are actually the product instead of the client.
2. for the algorithms, the balance on the thin line between censorship and filtering out truly bad stuff (whatever that might be) while protecting freedom of speech

Facebook doesn't do really well in both areas and will be doomed to fail in the long term.
We will be seeing more FB fans shortly, looking for more unsanitised platforms (with more viewpoint diversity).
Reply With Quote
  #7  
Old 27.07.2018, 15:24
Forum Legend
 
Join Date: Dec 2010
Location: ZH
Posts: 5,328
Groaned at 58 Times in 48 Posts
Thanked 2,696 Times in 1,612 Posts
SOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond reputeSOBEIT has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

No sympathy for the suckers who signed up for it tbh.
Reply With Quote
The following 3 users would like to thank SOBEIT for this useful post:
This user groans at SOBEIT for this post:
  #8  
Old 27.07.2018, 15:26
Guest
 
Posts: n/a
Re: The beginning of the end for the Social Media Giants?

Quote:
View Post
We will be seeing more FB fans shortly, looking for more unsanitised platforms (with more viewpoint diversity).
Who cares about viewpoint diversity?
Reply With Quote
The following 4 users would like to thank for this useful post:
  #9  
Old 27.07.2018, 15:28
Treverus's Avatar
Forum Legend
 
Join Date: Dec 2007
Location: Luxembourg
Posts: 11,841
Groaned at 299 Times in 256 Posts
Thanked 22,324 Times in 8,106 Posts
Treverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

Quote:
If Facebook would just stop pissing about with their algorithms, maybe fewer people would abandon it?
The truth is that FB has become very hard to abandon and while I see the occasional person leaving it... its way too practical and there is honestly no comparable alternative (except of WeChat in one single market on the planet). With practical I mean:
- a lot of social events, restaurants and everything not corporate lives exclusively on Facebook. Because creating and promoting and event or a small business there is easier than doing a whole website.
- a lot of websites use "log in with facebook" as the easier choice to have another 500 accounts on some ecommerce website you only ever buy something once...
- I have lived in a couple of countries and I love to stay in contact with people I do not see every day or even year. Before FB would I simply lose the contact to somebody who moves as often as I did.


That's just the most obvious ones...


Bottom line: GDPR rightfully pisses right into FBs business model. That must hurt and it should, because their business model is ridiculous. But they still have a huge potential for advertisers and are there to stay... even if they collect a little less data. If FB would do a bit better in their PR and react a little better to the critics... they could have dropped way less than they did.
Reply With Quote
The following 11 users would like to thank Treverus for this useful post:
  #10  
Old 27.07.2018, 15:30
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,086
Groaned at 486 Times in 405 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

they won't be folding anytime soon, recently been trying to get sponsorship from companies for our group, first thing they wanted to know was how many instagram followers we had, what was our facebook page etc
Reply With Quote
This user would like to thank bigblue2 for this useful post:
This user groans at bigblue2 for this post:
  #11  
Old 27.07.2018, 15:32
The_Love_Doctor's Avatar
Forum Legend
 
Join Date: Aug 2009
Location: Zugerberg, Zug
Posts: 3,274
Groaned at 77 Times in 60 Posts
Thanked 3,697 Times in 1,745 Posts
The_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond reputeThe_Love_Doctor has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

Easy come easy go... anyone remember MySpace??

I’m still probably one of the few people without a Twitter account. I don’t see the need for having one and probably will never have one.
Reply With Quote
This user would like to thank The_Love_Doctor for this useful post:
  #12  
Old 27.07.2018, 15:32
Forum Legend
 
Join Date: Feb 2010
Location: CH
Posts: 9,976
Groaned at 336 Times in 275 Posts
Thanked 14,557 Times in 7,479 Posts
greenmount has a reputation beyond reputegreenmount has a reputation beyond reputegreenmount has a reputation beyond reputegreenmount has a reputation beyond reputegreenmount has a reputation beyond reputegreenmount has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

Quote:
View Post
- I have lived in a couple of countries and I love to stay in contact with people I do not see every day or even year. Before FB would I simply lose the contact to somebody who moves
.
Same here.
Reply With Quote
The following 2 users would like to thank greenmount for this useful post:
  #13  
Old 27.07.2018, 15:44
AbFab's Avatar
Forum Legend
 
Join Date: Sep 2006
Location: Zürich
Posts: 8,001
Groaned at 339 Times in 230 Posts
Thanked 11,345 Times in 3,925 Posts
AbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

Of course Facebook can‘t expand forever and along will come the `next big thing`- as it will - and FB will go the way of `Freinds Reunited`.

Today‘s Social Media Giants will fall to the sling of a new David. (Wow that was kinda poetic.)
Reply With Quote
The following 4 users would like to thank AbFab for this useful post:
  #14  
Old 27.07.2018, 15:48
Treverus's Avatar
Forum Legend
 
Join Date: Dec 2007
Location: Luxembourg
Posts: 11,841
Groaned at 299 Times in 256 Posts
Thanked 22,324 Times in 8,106 Posts
Treverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

I don't think so. Their data is worth billions and targeted ads will remain a thing. So if people for whatever reason use less of the original social network will they use their financial power to buy stuff that helps them to collect more information on people. Lets say a popular messaging app like WhatsApp, or some photosharing service like instagramm. The network is not the core of the business... its just the tool to collect user data. The actual business is to sell advertisement. Not just within Facebook but anywhere online.
Reply With Quote
  #15  
Old 27.07.2018, 16:09
martin959's Avatar
Forum Veteran
 
Join Date: Oct 2009
Location: St Gallen
Posts: 1,244
Groaned at 26 Times in 17 Posts
Thanked 561 Times in 317 Posts
martin959 has earned the respect of manymartin959 has earned the respect of manymartin959 has earned the respect of many
Re: The beginning of the end for the Social Media Giants?

It will go up again, its not the first time this happens... one way or the other they will drag back the people...
Reply With Quote
  #16  
Old 27.07.2018, 16:21
MusicChick's Avatar
modified, reprogrammed and doctored²
 
Join Date: Feb 2008
Location: La Cote
Posts: 16,307
Groaned at 346 Times in 239 Posts
Thanked 18,806 Times in 9,793 Posts
MusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

FB will die of low traffic, because it slows their data harvest. Old data is good for sh... for nothing. FB only lives off new data so it can stir attention to current advertisers. Internet heros, echo chambers and stalking friends and family is starting to bore people, so traffic slows. I know it is not as extreme but people's interest in entertainment is fickle, you can only pay so much attention to so much drama..
Reply With Quote
The following 3 users would like to thank MusicChick for this useful post:
  #17  
Old 27.07.2018, 16:25
Guest
 
Posts: n/a
Re: The beginning of the end for the Social Media Giants?

Quote:
View Post
FB will die of low traffic, because it slows their data harvest. Old data is good for sh... for nothing. FB only lives off new data so it can stir attention to current advertisers. Internet heros, echo chambers and stalking friends and family is starting to bore people, so traffic slows. I know it is not as extreme but people's interest in entertainment is fickle, you can only pay so much attention to so much drama..
Drama? What kind of shite are you following on Facebook?

I get linguistics memes, holiday photographs and pictures of bookshelves. There's more drama in our kitchen at breakfast time than I get on Facebook!
Reply With Quote
The following 2 users would like to thank for this useful post:
  #18  
Old 27.07.2018, 16:27
MusicChick's Avatar
modified, reprogrammed and doctored²
 
Join Date: Feb 2008
Location: La Cote
Posts: 16,307
Groaned at 346 Times in 239 Posts
Thanked 18,806 Times in 9,793 Posts
MusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

Quote:
View Post
It will go up again, its not the first time this happens... one way or the other they will drag back the people...
How?

Memes?
Reply With Quote
  #19  
Old 27.07.2018, 16:35
Treverus's Avatar
Forum Legend
 
Join Date: Dec 2007
Location: Luxembourg
Posts: 11,841
Groaned at 299 Times in 256 Posts
Thanked 22,324 Times in 8,106 Posts
Treverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

Quote:
View Post
How?

Memes?


Communication is a basic human need. The tools change, the need stays the same. The current big tech players have an unbelievable amount of cash, we are talking about comparable levels of the total economy the British East India corporation had in its best time... no matter what the next tools will be, the current guys can buy them. In the past did big companies often make the mistake to not predict the future well. So far did Google, Apple, Facebook and Microsoft everything to not prevent new tools to emerge but to simply buy stuff up and control them. Just think of how disruptive some start up called Skype once was and what it is today...
Reply With Quote
This user would like to thank Treverus for this useful post:
  #20  
Old 27.07.2018, 16:53
MusicChick's Avatar
modified, reprogrammed and doctored²
 
Join Date: Feb 2008
Location: La Cote
Posts: 16,307
Groaned at 346 Times in 239 Posts
Thanked 18,806 Times in 9,793 Posts
MusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond reputeMusicChick has a reputation beyond repute
Re: The beginning of the end for the Social Media Giants?

I'd think Skype is out of fashion, my vid conferences are on Zoom. I can't picture FB attention engineers failing to predict/control traffic so much that it tanked so much these past few days, FB also got a really big fine a week ago or so, I forgot why. I don't think it is just the recent data protection business doing it. People need privacy, FB doesn't really give it, when you think about it. Insta livestyles...gets old? Oversaturation?
Reply With Quote
This user groans at MusicChick for this post:
Reply

Tags
facebook, stock, twitter




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
The beginning of the end for Geneva? McTAVGE Daily life 55 09.06.2015 19:22
Travel to the UK AT THE END OF THE MONTH cheaply & in comfort anyone? Hausamsee Transportation/driving 0 17.07.2013 14:58
The social media strategy generator. Treverus Jokes/funnies 8 05.08.2010 14:09
Collapse - The beginning of the end Castro General off-topic 48 21.05.2010 18:39


All times are GMT +2. The time now is 12:51.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0