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.
We humbly apologize for the inconvenience.