Is Facebook on the verge of downfall?
Horace C. White
Modern Tokyo Times
The Possible Downfall of Facebook
Facebook! Facebook! Facebook! Indeed, that name rings a bell. Even in the remotest part of the world, Facebook is a well-known social media (SM) platform. In fact, this mirrors its unparalleled popularity. As a social network, Facebook has reinvented itself over the years. Just before we x-ray the possible downfall of Facebook, let’s discuss the transformation the company has undergone over the course of years.
Growth from FaceMash to Facebook
Who would have ever imagined that the good old FaceMash, the former name of Facebook, would metamorphose to one of the biggest companies in the world today? Going back in history, in July 2003, two Harvard University students, Mark Zuckerberg, and Eduardo Saverin collaborated to launch a fun site for the university students. From comparing the beauties of stunning female undergraduates, FaceMash then changed to Facebook in February 2004. Two years later, teenagers 13-years-and-above, with valid email addresses, were jostling to sign up to Facebook. Since then, Facebook has grown geometrically. Today, it has become the biggest SM platform, accounting for over 2 billion global users each month. As it continued to grow, Facebook acquired instant messaging app WhatsApp and social network service Instagram. Beyond its unequaled number of online visitors, Facebook reported that it raked in over $16.9 billion in Q4, 2018.
The narratives are changing
While the Facebook team smiles to the bank every now and then, there is something sinister lurking around the company. However, the Facebook team remains bullish on its future, forecasting a positive trajectory. Yet, analysts argue that Facebook may be on the verge of collapse. They buttress their analysis with three salient points:
- Distrust: One of the most controversial tech debacles in recent time is the Facebook/Cambridge Analytica data scandal. The well-publicized privacy controversy compelled governments and users around the world to start having a rethink about Facebook. When the issue gained global attention, many Facebook users shut down their accounts such as singer Miley Cyrus and tech billionaire Elon Musk.
- Competition: Although Facebook is still the champion of the SM space, it is increasingly facing tougher competition from other platforms. Coupled with the distrust of Facebook, these critics argue that many SM users are jilting it for Twitter.
- Discord in the community: One of the biggest challenges that Facebook has had to deal with is the discord brewing among the community. In the United States, for instance, many users see the platform as a tool for spewing hate. As such, users have abandoned their Facebook accounts because they believe that the platform has become a tool in the hands of political stooges. In addition, the possible spread of fake news on the platform increases Facebook users’ worries that the SM site will eventually censor or muffle content information.
Is Facebook about to collapse?
According to many forums, Facebook CEO Mark Zuckerberg has made it abundantly clear that Facebook plans to build a platform that will enable “humanity to connect.” However, if Facebook does not begin to take privacy seriously, or come up with new innovative ideas to help its platform grow, Facebook will surely be on course to become the largest global Internet community ever known to mankind that is on the verge of a possible downfall.
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