Facebook Fire 11,000 Staff 😳

Facebook are to fire 11,000 staff. Wow, Facebook are letting go of 13% of their entire global workforce. 11,000 staff. Now this is going to hit hard and deep. Now when the lockdown started, I predicted many casualties, in fact, maybe even moving us into a depression. And you know what? This is just the start. So I'm going to announce exactly what's just happened with Facebook laying off, firing 11,000 staff. But I mean, that's not it. You've got Twitter laying off 75% of their employees. You've got Apple on a hiring freeze. You've got Amazon on a hiring freeze. You've got Snapchat laying off 20% of their staff. You've now got a Meta, 11,000 staff. Microsoft are doing layoffs and Intel are laying off 20% of their staff. This is just the beginning, mark my words. So this is breaking news. Now let me let you know what's going on here. Not even a year ago, Facebook was a nearly trillion-dollar company. Not even a year ago. Do you know its value now? A year ago, $1 trillion valuation. Its value is now $300 billion. $700 billion gone, wiped off their valuation. Um, Mark Zuckerberg, as you may know, converted Facebook into Meta and has made this big bet in the metaverse. He bet $10 billion on investing in R&D into the metaverse, and this looks like it has nearly failed. You can't say it's failed yet. And by the way, I am not a hater of Mark Zuckerberg. He's not got the easiest job. So stick with me here, but this $10 billion bet on the metaverse looks like it's failing because Facebook are laying off— today announced 11,000 staff. Then what's happened is TikTok has come in and bitten their ankles. Apple have made it much harder for Facebook to run their ad platform. Soaring interest rate rises. Mark Zuckerberg's focus in the metaverse, and these are some of the areas that have caused this huge $700 billion wipe off of Facebook's valuation. Um, so that is 71% down. I mean, that's like a cryptocurrency drop. Wow. Now, Mark Zuckerberg has admitted some personal mistakes. He believes that some things, decisions he's made, has contributed to Meta's struggles. He says here, and I'm going to quote him here, he's going to take accountability for these decisions and for how we got here. Um, he admitted that his plans for growth had been too optimistic, and he said, I was wrong. And when outlining, outlining, um, how Meta were going to bet on high-demand e-commerce and, you know, the amount of billions he'd spend on developing Meta So for 2 consecutive quarters, Facebook's revenue had dropped alarmingly, and their declining ad sales across their platforms was one of the main reasons. Now I'm going to finish the, the news bit in a minute, but I've got something to say on this. Um, Facebook ads have become harder and harder and harder and harder, and Facebook ads actually really disrupted Google Ads. And Facebook ads were great And now they're not as great. The service has gone down. You can never get through to anyone. The ad costs are far too expensive. Also, the algorithms, they suppress your reach too much. And I would say this to Mark Zuckerberg's face, by the way. If Mark Zuckerberg was there, who, by the way, we have got agreement for him to be on my podcast Disruptors, so when this comes off, I will ask him face to face. But I have spent millions of pounds with his company on Facebook ads, and they've got harder and harder and more and more expensive. Surely if he made that a little bit easier, if he made ads just a little bit easier and just a little bit cheaper, um, and he made the reach just a little bit less shadowed, and then, um, he could generate much more revenue for his company, and it could be good for, um, you know, all the users, the marketers, and the business people, um, on Facebook. So quite frankly, I think that the ad platform is not as good as it was. So if it's not as good as it was, this is what happens. Um, Carla said it's all an illusion. Yeah, I'm an illusion. I'm not really here. You're not really watching me. Come on. Um, so yeah, I'm— I must— I, I thought Facebook ads at one point were brilliant, and what made them good has gone. And I think if they turn that around, if they looked at the users more, you know, these— so these social media platforms sometimes forget the users. So if you made it more user-friendly, if your admin and support was better and if you actually made the, um, rates and what you charge for ads more fair, then you'd have made a lot more money. Um, so investors are concerned about Meta's big spending in the metaverse. They've got an augmented reality division called Reality Labs, pumped $10 billion into R&D. Shares down 71%. And by the way, this is what Mark Zuckerberg has also said. He said recruiting will be disproportionately affected since we're planning to hire fewer people next year. We're also restructuring our business teams more substantially. Is that his way of saying they're going to focus more back in social media and more back into what made Facebook Facebook? I don't know. Has this bet on the metaverse failed? I don't know. Time will tell. I don't want Facebook to go down. I think it's one of the best social media platforms still. I think if they went back to its basics and looked after its users, I think it could really soar again. Um, these are my thoughts. I'd love your thoughts. Um, quick summary, and then I'm going to give you something for free because I know that a lot of people are getting hurt in this upcoming depression. Not just Facebook, Twitter, Apple, Amazon, Snapchat, Microsoft, Intel— all these companies are getting hurt. I did predict this when they fucking locked us down. I'm sorry to say it. I got a lot of hate for it. I predicted this when they locked us down first time, second time, and Soft third time. The world is going to be paying for this for another 10 years plus. Buckle up, believe you me, it is. So, quick summary: Facebook are firing 11,000 staff, um, steep slide in digital ad revenue and profit, $700 billion wiped off the company value, TikTok competing, Apple humming their ads business, rising interest rates, Mark Zuckerberg's focus into Meta. Too aggressive, optimistic growth targets, which to be honest you can kind of forgive because of lockdown. So I must admit, in my company I was a little bit optimistic in our growth targets, but lockdown created the implosion of most companies' ability to trade. Although maybe actually you could argue online companies like, so like Facebook and social media should have been able to profit and should have benefited. Let me know what you think. So shit me, this is happening. This is big bad news, and believe you me, it ain't gonna stop. It ain't gonna stop. Twitter— Elon Musk has come in, 75% of the employees gone, lost their jobs. Apple stopped hiring, Amazon stopped hiring, and then many companies laying off 20% of their staff, like Intel and Snapchat. Where's this going to end? Well, it ain't going to end for many years. Now you can turn this into an advantage. And I've mentioned that on many videos, but actually what I just want to do is give you a free gift and help you. So if any of you are struggling or just barely surviving financially, or you want a bit of financial help and you want someone to help you at no initial cost and to give you some education on making money and saving money and getting your costs down and getting your income up, if you just go to bit.ly/robtoolkit This is my gift to you. This will cost you nothing, by the way. It's bit.ly/robtoolkit. So what you've got there is 7 or 8 different financial resources to help you save money in areas that matter and then increase your earning power and your income streams. And get multiple streams of income and not just survive but thrive. And believe you me, you're going to need this toolkit through this crazy recession depression that's happening. And then you— there's going to be news like this every day or every week, believe you me. So I want to give you a free gift to help you. So please take advantage of this. Let me see if I can pin the comment. There you go, I've just pinned the, uh, the link there. When you go to the link, you'll see that I've got a weekly Rob's Resources email giving you new financial digital resources to help you save and make money, to build assets, to produce recurring income. You'll see there's some downloadable PDF and material and even video trainings on basically getting better financial education and knowledge and saving in areas where you can and making in areas where you should. So I just wanted to give that to everyone as a gift, and because I know that news like this is going to rock a lot of people, um, it's going to shock a lot of people. And I know that news like this is not going to stop. It's not going to stop. So there you go, that's, that's the news. What do you think? What do you think about Facebook laying off 11,000 staff? What do you think about their evaluation going down by $700 billion, by 70— what, 75, 76%? What do you think about Mark Zuckerberg's decision to, um, you know, focus Facebook on the metaverse and that big bet That big, big bet. Let me know your thoughts in the comments, but holy shit, this news is going to shake the world. Thanks for tuning in, and remember, if you don't risk anything, you risk everything.