Business
Good old Facebook… The media super-power has very much turned into Marmite — you either love the social media platform or you hate it.
The latest controversy surrounding Facebook is its plunging share prices. Last week, the social media giant announced disappointing earnings, which wiped out about $120 billion of shareholder wealth. As a result, shareholder James Kacouris filed a lawsuit against Mark Zuckerberg and Facebook’s chief financial officer, David Wehner, on Friday, July 27.
Kacouris is accusing Zuckerberg and Wehner of misleading shareholders by failing to disclose slowing revenue growth, falling operating margins and a decline in active users. The lawsuit seeks class-action status and unspecified damages. It’s thought to be the first lawsuit of many to follow.
2018 is most definitely not a good year for Facebook, and while these latest developments may not have a direct and immediate impact on marketers, the future is very uncertain for the social media giant.
Is it time to think about a ‘world without Facebook’? Or is it still too early to jump ship?
In this week’s The Big Idea podcast, Brian York and Grant Perry share their thoughts on the latest Facebook debacle as they discuss alternative marketing opportunities and strategies waiting to be explored.