According to experts, Facebook is about to end

A.D

the essentials in short

• In just nine months, Mark Zuckerberg lost about half of his fortune.
• The future of his social network Facebook also doesn’t look good.
• If it doesn’t change course soon, it’s likely a thing of the past, according to an expert.

For Facebook CEO Mark Zuckerberg, things are far from rosy: in just nine months his fortune went from 127 billion to 56 billion. At the same time, Facebook’s parent company Meta is only in the red. Zuckerberg then announced budget cuts and hiring freezes. What does this mean for Facebook’s future?

Social media expert Mike Schwede is convinced: “In a decade, Facebook may no longer exist like this.” The social network has degenerated into a platform for over 50.

These kinds of so-called “central networks” no longer have a future anyway: “Facebook is currently still a cash cow.” But: “If the network is to continue to exist, it should rely on decentralization.”

This would mean that users generate their own content regardless of the platform. These would then be made available in a decentralized way for various platforms. Content and followers remained the property of users, who would have benefited from advertising revenue.

“But that would mean Facebook would have to do away with its business model.” And with such established companies, it’s common to hang on to concepts that have proven themselves so far. Swede: “At some point it will be too late and Facebook will eventually.”

The industry expert sold his Facebook shares last year. Schwede says, “Microsoft or Snapchat, for example, are better positioned for the next Metaverse.” Facebook could become the “new Nokia”.

Not just Facebook threatened: Metaverse a total failure

This is especially true of the Metaverse, which consumes billions of funds: “The project comes five to ten years early and is developing beyond the market.” On the one hand, the technology for virtual reality is not that advanced and there is no need for the customer.

On the other hand, no one in the West wants to sink into virtual realities. «In Africa and Asia, things are different: here users want a place of retreat. A virtual world where forests and lakes they do not have at home can live. We in Switzerland, on the other hand, have everything in real life ”.

Do you use Facebook?

24%

No, but I use other social networks. –

2

No, but I use other social networks. –

40%

Social is not for me. –

3

Social is not for me. –

However, Instagram, which also belongs to parent company Meta, has better cards. “Young people aged 25 to 40 are particularly active here”. This social media platform is also doing relatively well against TikTok.

Basically, TikTok and Insta aren’t exactly competing: “The two platforms tend to complement each other. If they do, they rip users off Netflix and YouTube. “