• SHARE

It was not a good day for Meta Platforms Inc. or its investors, but it was a good day for capitalism.

After a quarterly earnings report revealed a decline in Facebook’s daily active users — a first for the company — Meta’s shares plunged by 26% on Thursday, some $250 billion in market value was eroded and analysts declared the behemoth all but dead. That prediction may well prove wrong. Regardless, the selloff was a reminder of why Washington’s approach to reforming tech can sometimes miss the mark.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)