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By pivoting to Meta instead of fixing Facebook's core business, Zuckerberg flunked Business 101. And Wall Street just gave him the failing grades.
Facebook parent Meta Platforms suffered the biggest wipeout in market value for any U.S. company ever, more than $230 billion.
The social network is feeling the effect of increased competition for users’ time, a shift in interest to video, where advertising isn’t as lucrative, and privacy changes by Apple that impair ad targeting.
Facebook rattled investors on Wednesday by posting a rare profit decline, driven by the company's heavy spending on its vision for a so-called metaverse while simultaneously confronting advertising challenges on
Billionaire Fortescue Metals founder Andrew Forrest has launched a world-first criminal action against tech giant Facebook over scam ads.