Facebook Stock Crash

[Fuzzy Necromancer]

Mark Zuckerberg lost $119 Billion dollars on the stock market on (7/26/18). This is the largest loss of wealth in a single day in modern stock history.

This will literally not change his lifestyle or effect his livelihood at all. He is still a multi-billionaire.

If I worked every single day, for the rest of my life, at $15/hr - which is more than twice the national minimum wage - I would never make even 1/1000th the amount of just the money that Zuckerberg lost today.

If I worked every single day, for the entirety of the time that anatomically modern humans have existed (200,000 years) - at $15/hr - I would still not make one tenth of the amount of just the money he lost today.

And he is still a billionaire and will lose literally zero luxury or well-being from what happened today.

And he will probably still whine about it and blame Millenials or Gen Z for ruining his industry.

[SlackerinDeNile]

That's hilarious in my opinion, but I don't know, it sounds like a pretty serious loss for him, although given the kind of person he is he'll probably make it back somehow. :\

[Fuzzy Necromancer]

How serious can it be when he still has more money than a thousand millionaires?

[LittleRaven]

Yup. The Gilded Age had nothing on us. While it's not the sole cause, I suspect our massive wealth imbalance is significantly contributing to the problems that Western Democracies are currently wrestling with. Brexit, Trump, the rise of irrational extremist movements...these are signs that our system is getting dangerously top-heavy.

There are only two ways this ends...reform, or collapse. Historically, our country has gone with the former, but examples of the latter abound.

[Antiboyscout]

Mark has been dumping his personal shares of stock in Facebook for quite a while now.

Twitter is not too far behind.

I wonder if the crash has something to do with Giant Tech Monopolies who no longer face any competition growing decadent and deciding to use the power and influence they wield to push politics; thus, moving away from the original design of the service/product provided without generating any new interest but generating a lot of negative push back?

[TGLS]

People are upset with hearing the truth. Before, people were happy to use Facebook to do whatever the hell they do with it. Now that people are hearing about how Facebook trades in personal information, they are upset, and this will affect usage, which will affect advertisers spending.

[Karha of Honor]

Yup. The Gilded Age had nothing on us. While it's not the sole cause, I suspect our massive wealth imbalance is significantly contributing to the problems that Western Democracies are currently wrestling with. Brexit, Trump, the rise of irrational extremist movements...these are signs that our system is getting dangerously top-heavy.

There are only two ways this ends...reform, or collapse. Historically, our country has gone with the former, but examples of the latter abound.

Like the Establishment is not irrational and extreme.

Mark has been dumping his personal shares of stock in Facebook for quite a while now.

Twitter is not too far behind.

I wonder if the crash has something to do with Giant Tech Monopolies who no longer face any competition growing decadent and deciding to use the power and influence they wield to push politics; thus, moving away from the original design of the service/product provided without generating any new interest but generating a lot of negative push back?

How will people get shamed out of existence over nothing without Twitter?

[SuccubusYuri]

Mark has been dumping his personal shares of stock in Facebook for quite a while now.

Twitter is not too far behind.

I wonder if the crash has something to do with Giant Tech Monopolies who no longer face any competition growing decadent and deciding to use the power and influence they wield to push politics; thus, moving away from the original design of the service/product provided without generating any new interest but generating a lot of negative push back?

Actually there was a cause, both FB and Twitter purged thousands of "dummy" accounts, many Russian bots, and those accounts Facebook and Twitter created to sell their advertising services by giving buyers reams of fake followers. It's an ugly truth that no one really wants to be true; the value in these companies is, certainly in part, with the trash accounts, and the illusion of transparency without actually delivering it.