Zuckerberg Spinning Plates
Mark Zuckerberg’s PA must be rushing him off his feet. The social media tycoon is being forced to multi-task, championing Facebook’s prospects to patch up any lingering stock sentiment from a fateful 2018. Now, given government efforts to break up what he’s built, Zuck’s timeline is looking chocka!
Let’s face it, Facebook still depends on running ads to make money. That means growth follows the marketers; to Instagram. At 15, the flagship Facebook website is an old dog in company years. It’s now taking a back seat to platforms with stickier retention and younger user bases. Namely, WhatsApp and Instagram, that paired with a new digital currency are lifting investor spirits this year. 39% in the green, on with the uptick!
Not so fast… As Facebook wraps its fingers around your social life, comments from on high suggest it may be getting too powerful. Speaking yesterday at the Aspen Ideas Festival, Zuckerberg almost check-mated himself on the issue. In trying to swoon shareholders with a big and bright future, he really poured gasoline straight on top of that raging fire of antitrust anger. Can Zuckerberg put it out?
Well, still testifying for privacy shortfalls and election rigging mishaps last year, he claimed that “breaking up wouldn’t make any of those problems better. You would still have those issues. You would just be much less equipped to deal with them.” The billionaire is adamant that it’s in the interest of the many, not draw-and-quarter his company.
The entire tech sector is knee-deep in the quagmire of anti-trust controversy. Some big names may not come out in one piece, so how would the rest of the market cope with a break-up? Stand by, tech investors.