Meta loses $730 billion & fires 11,000 employees
Full video: https://youtu.be/8m9TXp4Ovyg
Video transcript:
The parent company of both Instagram & Facebook is losing tons of money.
I mean they were a trillion-dollar company not to long ago, but currently they’re worth around $300 billion.
Of course, that is still a stupidly high amount, but just to be clear they lost over 700 billion dollars in the past year.
And with them bleeding money like crazy the CEO Mark Zuckerberg’s now firing 11,000 employees.
Meta says this is due to spending a lot on VR & the Metaverse which is very unprofitable, not to mention them also losing tons of advertising money due to Apple & various new laws…
And of course, TikTok taking away a lot of the eyeballs from Instagram.
And I mean the company was also probably incredibly overvalued to begin with.
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