As we can see from recent incidents world needs a new social media model! People care about their social media profiles and data privacy more and more. Don’t You think so? Ask Mark Zuckerberg about it!
Facebook has lost $138 billion of value in under 2 hours..
Facebook lost more value than most startups and even public companies are ever worth!
Why this is happening?
Privacy And Well-Being — Q2 saw the debut of Europe’s GDPR that forced Facebook to change its privacy policies and get users to agree to how it collects data about them. Wehner blamed GDPR for Facebook loss of users in Europe. That law and Facebook’s Cambridge Analytica scandal led the company to have to improve its privacy controls. These could make it tougher for Facebook to target people with ads or show their content to more people.
Meanwhile, Facebook has continued to adopt the “Time Well Spent” philosophy, removing click-bait news and crappy viral videos that lead to passive internet content consumption that studies say is unhealthy. Instead, Facebook is pushing features like Watch Party where users actively interact with each other. Those might not produce as much time on site and subsequent ad views, but CEO Mark Zuckerberg said the changes are “positive and we’re going to continue in this direction.”
Slowest-Ever User Growth Rate — Facebook’s monthly user count grew just 1.54, compared to 3.14 last quarter. Daily active users grew even slower at 1.44 percent, compared to 3.42 percent last quarter. For reference, 2.18 percent was its previous slowest DAU growth rate back in
Blockchain and decentralization the solution for it!
As we might see now, old social media model needs a lot of improvements and people started to fight with it. Provoco team believes that we have solutions to current social networks issues!
We see an opportunity to bring our new social media model as we see demand for changes.
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