For more than 10 years, the world has been spinning in the chaos of social media, which has transformed tangible life into a virtual one. Its events take place behind screens and in a context replete with "codes", symbols and challenges related to the world of sociology, politics and economics.
Among the most prominent modern means of communication, "Facebook" and "Twitter" are famous, as they constitute a kind of global platform for news and activities that cannot be penetrated, nor can it be dispensed with.
However, it seems that the equation of the dominance of social media known to the lives of people, societies and countries has entered a new phase, which leads to question marks about its future role and the possibility of its continuation?
In the following, we present to you a quick overview of the most prominent transformations that occurred on Facebook and Twitter, and the most important reasons that led to these transformations.
Decline in Mark Zuckerberg's fortune
Facebook founder Mark Zuckerberg lost more than $100 billion of his fortune in just 13 months. This was largely due to the strong declines hitting Meta Platforms since the announcement of the Metaverse technology and the revelation of disappointing earnings.
According to a report by Bloomberg Economic Agency, Zuckerberg's net worth amounted to about $ 38 billion, according to the Bloomberg Billionaires Index, down sharply from its peak of $ 142 billion in September of last year. Mark Zuckerberg has lost more than seventy billion dollars of his fortune since the announcement of Metaverse.
Decreased company profits
Mita recently announced its business results for the third quarter of this year, which showed a net profit decline of more than 50 percent year-on-year, with revenues declining by 4.5 percent for the second consecutive quarter.
The question that arises in this context is what are the possible reasons behind this decline, especially after the importance of social networks, including Facebook and Twitter, emerged after the Corona pandemic, as people sat at home for a long time, and their increasing use of the Internet in general and social networks in particular.
The reasons
In this context, it can be said that there are many reasons that may have contributed or caused this decline in the major social media companies, so what are the most prominent of these reasons?
Facebook's strength appeared clearly after the Corona pandemic, as we mentioned. And it became clear to many that Facebook is not only an economically successful company, but also has the ability to intellectually dominate societies by controlling what is published, whether by stopping or supporting its spread. This caused the emergence of very strong new competitors, including but not limited to the American "Ramble" Foundation, which fiercely competes with Facebook in the United States of America.
Rumble and other new competitors to traditional social networks were able to convert the anger of many supporters of former President Donald Trump - because he was prevented from publishing what he wanted on the main social networks - into an increase in the number of its subscribers. They aspire to attract tens of millions of Trump supporters to their platform.
The matter was further complicated by the joining of many who refuse to take the Corona vaccine, and they too - tens of millions - to refuse Facebook groups and join new communication networks that, as they see it, guarantee them "more freedom of opinion and expression" that the US Constitution guarantees them.
Twitter also did not escape from this decline for the same reasons. What Elon Musk said, president and owner, is enough
Twitter and the CEO of the company that the company is losing $ 4 million a day and that he is ready to try anything that might help the platform turn into profitability.