Facebook's Collapse & The Metaverse Crusade

Summary by Krater

This video examines Facebook's history, its current struggles with privacy and an aging user base, and its strategic pivot to virtual reality and the metaverse to combat competition from TikTok and Snapchat.

From the video

Answers: Why is Facebook pivoting to the metaverse and virtual reality?

• Facebook privacy scandals
• Meta's metaverse pivot
• TikTok vs Instagram Reels competition
• Snapchat and Instagram Stories rivalry
• Apple iOS 14 privacy changes impact on Facebook
• Facebook stock drop

What it concludes

• Facebook has failed to protect user data adequately and faced widespread backlash over privacy, misinformation, and political manipulation.
• Facebook's user base is aging as younger audiences migrate to platforms like TikTok, Snapchat, and Instagram.
• Apple's iOS 14 privacy changes and App Tracking Transparency severely damaged Facebook's ad targeting and profitability, resulting in a $10 billion revenue drop.
• Facebook is aggressively pivoting to virtual reality and the metaverse to own the next computing platform and escape dependence on Apple and Google hardware.
• Facebook plans to use its proven playbook of copying successful features, such as Stories and Reels, to compete with rivals like TikTok and Snapchat.