Their business relies on the whims of fickle consumers not changing, which seems to happen frequently.
Facebook hasn't been cool for a decade+ and usage has dropped a lot in the last few years[1], so all of their eggs are going into baskets that either a) face similar competitive battles (insta v tik tok et al) or b) are gambles (metaverse), other ventures.
Social media, and perhaps the internet at large, seems like it's shaping up to be a lot more ephemeral in nature than we were led to believe when the unicorns were growing up. Not sure how these companies navigate that other than via conglomerate/acquisition style growth.
Facebook hasn't been cool for a decade+ and usage has dropped a lot in the last few years[1], so all of their eggs are going into baskets that either a) face similar competitive battles (insta v tik tok et al) or b) are gambles (metaverse), other ventures.
Social media, and perhaps the internet at large, seems like it's shaping up to be a lot more ephemeral in nature than we were led to believe when the unicorns were growing up. Not sure how these companies navigate that other than via conglomerate/acquisition style growth.
[1] https://blog.chartbeat.com/2021/06/24/facebook-decline-regio...