How Much Does Facebook Outage Cost
As many probably already know, all Facebook services have experienced one of the biggest disruptions in their history. Of course, such problems could not but affect the company's shares and the personal fortune of Mark Zuckerberg himself. Following a six-hour shutdown of Instagram, WhatsApp, and Facebook's internal tools, the company's stock fell 4.9%. It was one of the most significant daily drops since November last year. In total, since mid-September, they have decreased by 15%.
As for the personal fortune of Zuckerberg, experts estimate its fall at approximately $6 billion. It is reported to have dropped to $121.6 billion. Of course, it put him much lower in the ranking of the richest people. According to Bloomberg, he is currently ranked fifth. A few weeks earlier, his fortune was estimated at $140 billion.
Facebook is going through difficult times at the moment. In its investigation, the WSJ identified several significant problems in the operation of some of the company's products. However, the most important thing is that the representatives knew about them and did nothing or intentionally withhold important information. For example, recently, it became known that Instagram developers studied its effect on teenage girls and found that it has negative consequences in 20%. When it became publicly known, the planning for Instagram for Kids was put on hold.
Also, officials' attention was drawn to the fact that Facebook is deliberately downplaying the significance and scale of the January riots in the Capitol. Of course, exposing such questions requires a response from company representatives. They said that the issues of their products, such as political polarization, are not only related to the algorithms used and require more in-depth study.
Please share your opinion on the issues Facebook is experiencing right now. Is this social network a key factor in the political polarization in the US? What do you think of service outages on Monday?