back to article We're feeling pretty anti about these social networks

Social networks, once thought to have all-encompassing power to change our mood or voting strategy, have been hitting wall after wall this week. On Wednesday came the news that Meta's Facebook and Instagram are facing a ban on their personalized ad business in the EU unless they sort themselves out. Meta's also under the cosh …

  1. Omnipresent Bronze badge

    I'm currently perusing a thread

    about 80's greatest music, and not one bot has mentioned Madonna. Not one. That tells me everything I need to know: It's all a lie. Everything digital is fabricated.

    1. Dave559 Silver badge

      Re: I'm currently perusing a thread

      Well, obviously. That's what happens when you're not living in a material world…

      1. This post has been deleted by its author

    2. tiggity Silver badge

      Re: I'm currently perusing a thread

      Why would a thread on great music feature Madonna?

      .. I will give her huge credit for great marketing though, gained lots of success with fairly mediocre music.

  2. Groo The Wanderer Bronze badge

    It takes a truly special gift for business to lose half a megacorp's value in a single year... :)

    1. Winkypop Silver badge
      Devil

      As Bachman–Turner Overdrive once sang

      You ain’t seen nothing yet.

      1. the Jim bloke

        Re: As Bachman–Turner Overdrive once sang

        Seeing more and more nothing every day...

    2. 43300 Silver badge

      Or alternatively, the alleged value was massively over-hyped in the first place (which might well apply to a lot of big tech businesses)

      1. Pete Sdev Bronze badge

        Valuation

        I've wondered about that.

        Normally a company's worth is it's assets + potential future profits.

        Twitter didn't as far as I know have any tangible assets of note - infrastructure like offices and servers were rented.

        It had intangible assets in it's skilled workforce - which has been vastly reduced for no benefit apart from slightly reducing running costs, and it's data - how much of a subjective value that has is anyone's guess but likely to be far less than $44 Billion.

        Running costs were (and probably still are) greater than income from advertisers, so unless something drastically/magically changes there's no potential future profits to be factored in.

        The valuation probably was, and still is, off by several orders of magnitude. I wouldn't have paid more than £44 ;-)

        1. AbortRetryFail

          Re: Valuation

          Most of Twitter's value was in its goodwill, userbase, and advertisers willing to advertise to that userbase. Musk curled a big one off on all of that.

          So, yes, perhaps it was overvalued but Musk has also actively devalued it at every step too.

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