Not so for virtual reality, which is still very niche. Mobile was already mainstream when Facebook made that jump. Internally, Facebook has shifted focus toward the metaverse, a direction that is unlikely to pay off for many years to come. The business model shift is both internal and external. A drop-off is a sign of weakness that is new. Despite numerous past challenges, Facebook has always managed to grow its user base.
The surprise was a first-ever fall in monthly average users. Marshall Van Alstyne: I think this drop is born of some surprises, some business model shifts, and some long-term pent-up frustration with Facebook. Q &A With Janna Greenberg and Marshall Van Alstyne BU Today: How do you interpret Meta/Facebook’s huge drop in market value-what’s behind it and what does it mean for Meta’s future? When it comes to Meta/Facebook, the company, and its users, says digital advertising expert Janna Greenberg, “things are complicated.” The College of Communication professor of the practice began her career in advertising in Silicon Valley.īU Today talked with Greenberg, and another University expert, Marshall Van Alstyne, a Questrom School of Business professor of information systems and a Questrom Professor in Management, about Meta/Facebook’s latest travails, what’s driving them, and what lies ahead.
The market losses might not hold, especially given the recent wild fluctuations in the tech market, Bloomberg noted. The stock plummet came five months after Facebook founder Mark Zuckerberg, Meta chief executive, said the company would switch its focus to the metaverse-virtual-reality headsets, augmented-reality glasses, and virtual worlds. Photo by Jackie RicciardiĪnd while the main Facebook app lost a million daily users in North America alone last quarter, the company still has 1.9 billion users around the world. Janna Greenberg, a College of Communication professor of the practice.
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