‘Social Media Has Peaked’ | July 27 2018

‘Social Media has peaked’: Facebook in free fall as weak outlook stuns market

|| news.com.au

“FACEBOOK shares went into a free fall Thursday (AEST) as a stunningly weak financial outlook raised fresh concerns for the social networking giant as it tries to recover from the impact of data protection scandals and investigations.

After-hours trade saw Facebook shares plunge by some 21 per cent, wiping out an estimated $US130 billion in market value if the slump is confirmed at Thursday’s market opening.

The second-quarter report sparked initial selling after it showed revenue and user growth came up short of expectations.

Profit was up 31 per cent in the second quarter at $US5.1 billion; revenues rose 42 per cent to $US13.2 billion, slightly below most forecasts.

Selling pressure accelerated when chief financial officer David Wehner warned in a call with analysts of a weaker outlook in the coming quarter.

Wehner said revenue growth “decelerated” in the second quarter and will decline “by high single digit percentages” and added that “we are also giving people who use our services more choices around data privacy which may have an impact on our revenue growth.”

On the call, Jefferies & Co. analyst Brent Thill said that “many investors are having a hard time reconciling that deceleration … It just seems like the magnitude is beyond anything we’ve seen.”

Ross Gerber, an analyst at Gerber Kawasaki, said the latest figures suggest that the tide may be turning for Facebook and other social networks.

“Social Media has peaked,” Gerber said on Twitter. “We told you last qtr and now we’re seeing it.”

….Read more @ news.com.au

PENTAGON KILLS “LIFELOG” PROJECT SAME DAY FACEBOOK FOUNDED

|| Gopreload.com

“The Pentagon canceled its so-called LifeLog project, an ambitious effort to build a database tracking a person’s entire existence.

Run by Darpa, the Defense Department’s research arm, LifeLog aimed to gather in a single place just about everything an individual says, sees or does: the phone calls made, the TV shows watched, the magazines read, the plane tickets bought, the e-mail sent and received. Out of this seemingly endless ocean of information, computer scientists would plot distinctive routes in the data, mapping relationships, memories, events and experiences.

LifeLog’s backers said the all-encompassing diary could have turned into a near-perfect digital memory, giving its users computerized assistants with an almost flawless recall of what they had done in the past. But civil libertarians immediately pounced on the project when it debuted last spring, arguing that LifeLog could become the ultimate tool for profiling potential enemies of the state.

Researchers close to the project say they’re not sure why it was dropped late last month. Darpa hasn’t provided an explanation for LifeLog’s quiet cancellation. “A change in priorities” is the only rationale agency spokeswoman Jan Walker gave to Wired News.”

…Read more @ Gopreload.org

Facebook Stock Decline Is Largest One-Day Drop in U.S. History

|| Breitbart

 

“Facebook’s drop in stock price of nearly 20 percent marks the largest one-day stock market decline in U.S. history, at $119 billion.

Facebook has had a tough few days, seeing a massive decline in its stock price which fell by as much as 23 percent in after-market trading on Wednesday. The mass stock sale saw approximately $119 billion in market value destroyed, marking the largest one-day drop in the history of the American stock market.

The sudden drop in Facebook stock was a result of the announcement of second-quarter earnings which did not meet the companies predicted numbers. Although revenue had increased by approximately 42 percent, the number still fell short of analyst projections.

Similarly, the number of daily active users on the platform — an important metric for judging the success of a website or app — only grew by 22 million, the lowest growth figure since 2011. Facebook’s Chief Financial Officer warned that revenue growth would “decline by high single-digit percentages” until 2019.”

….Read more @ Breitbart

 

Pentagon Kills LifeLog Project

|| Wired | 2004

The Pentagon canceled its so-called LifeLog project, an ambitious effort to build a database tracking a person’s entire existence.

Run by Darpa, the Defense Department’s research arm, LifeLog aimed to gather in a single place just about everything an individual says, sees or does: the phone calls made, the TV shows watched, the magazines read, the plane tickets bought, the e-mail sent and received. Out of this seemingly endless ocean of information, computer scientists would plot distinctive routes in the data, mapping relationships, memories, events and experiences.

LifeLog’s backers said the all-encompassing diary could have turned into a near-perfect digital memory, giving its users computerized assistants with an almost flawless recall of what they had done in the past. But civil libertarians immediately pounced on the project when it debuted last spring, arguing that LifeLog could become the ultimate tool for profiling potential enemies of the state.

Researchers close to the project say they’re not sure why it was dropped late last month. Darpa hasn’t provided an explanation for LifeLog’s quiet cancellation. “A change in priorities” is the only rationale agency spokeswoman Jan Walker gave to Wired News.

However, related Darpa efforts concerning software secretaries and mechanical brains are still moving ahead as planned.”

….Read more @ Wired

 

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