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Is Facebook Dying?
Doom?
With Facebook’s new focus on the MetaVerse and ultimately VR, not only is the stock struggling but users are flocking towards other platforms such as Tiktok and Twitter. That being said, is Facebook on the way out? Let’s digest that a little bit on both sides of the argument.
Yup
Facebook both as a company but also as a platform has had an outstanding run, but it’s time for someone else to pick up the mantle and take over what we consider to be the world’s most popular social media platform. It’s clear that Meta is losing steam in terms of user growth and that is partly due to the fact they are shifting their research and development towards VR and the eventual MetaVerse. This ultimately allows their competitors to swoop in and attract Facebooks previous users by implementing new and exciting features while Facebook is getting distracted by other technologies. Looking at Twitter’s growing implementation of crypto and Facebook’s failed attempt of Libra/Diem, it’s clear to see that Facebook isn’t all that interested in competing with new and exciting technologies for Facebook. Perhaps they’re focused on their other products and services in hopes of later implementing them back into Facebook when they’re mature enough with either the user base or the technology but by then we may all be sending out Tweets instead.
