Tuesday, October 15, 2019

Facebook's rough week

Lately Facebook has been having very rough weeks and this one is no different.

These are just three stories Business Insider reported on today:

1. TikTok is Mark Zuckerberg's worst nightmare and now it's reportedly poaching Facebook's employees too

TikTok appeals to a younger demographic that Facebook has been unable to capture and now, they are also poaching FB employees.

2. Facebook’s Libra cryptocurrency plan just got formalised, but a quarter of its backers have now dropped out

The only way Libra will be successful is if they are able to become the standard platform and bring all companies in - well this week they lost Visa, Mastercard and Stripe. This news just made Libra more challenging.

3.  Mark Zuckerberg responds to report he's been hosting private dinners with prominent conservatives like Tucker Carlson and Lindsey Graham by telling people they should try listening to 'a wide range of viewpoints'

Lastly, Mark Zuckerberg is showing how worried he is of some of new regulation coming his way. To the point that he's meeting with very unsavory people to "hear them out".

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