Facebook Suffers $10 Billion Loss Because Of Privacy Changes

Last April, Apple gave users the option to choose which apps track their behavior around the web. Not surprisingly, many people decided to opt out — especially from Facebook, which has a long and controversial history when it comes to protecting user privacy. As a result of this earth-shaking move, Facebook’s parent company Meta announced this week that the social media giant has lost out on $10 billion in revenue this year alone.

“The impact of iOS overall as a headwind on our business in 2022 is on the order of $10 billion,” Meta CFO David Wehner said during the company’s quarterly earnings conference call. “We’re working hard to mitigate those impacts and continue to make ads relevant and effective for users.”

This announcement also coincided with the revelation that for the first time ever, Facebook lost users this quarter. That resulted in a massive hit to the company’s stock, with Meta losing $230 billion in market value overnight. And while these two threads aren’t necessarily related, they both serve as proof that users are growing increasingly frustrated with Facebook and its practices. After all, if implementing basic user privacy results in such a huge financial loss, perhaps Facebook needs to step back and look at the basics of its business model.




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