Ep. 1186 Facebook COLLAPSING! Offices CLOSED as Meta in FREEFALL!!!
Turley Talks
podcast@turleytalks.com
4.8 • 1.3K Ratings
🗓️ 5 October 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
Highlights:
- “Meta has lost a colossal two-thirds of its value. Its stock is trading at its lowest in years and it’s about to close out its third straight quarter of double-digit percentage losses.”
- “As we’re seeing with Elon Musk’s takeover of Twitter, the world is moving on from wokeness. They want nothing to do with it anymore, and it’s not even the cancel culture per se that’s bad enough, but it’s MORE than that, it’s the fact that the proponents of wokeness look so obviously and so pathetically petty.”
- “Facebook is just morally keeling over! Having sold its soul to leftwing weakness, it’s imploding under the weight of its own absurdities!”
Timestamps:
- [01:23] How Facebook and Meta are collapsing
- [04:30] What is the reason behind this fall
- [07:31] On the steady decline and why they only have themselves to blame
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Transcript
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| 0:00.0 | Are we seeing the revitalization of conservative civilization all over the world has been a massive backlash against globalization, its leftist leadership, and its anti-cultural liberal values, and it's just the beginning. |
| 0:19.0 | I'm Dr. Steve Turley. I believe the liberal globalist world is at its brink and a new conservative age is rising. |
| 0:27.0 | Join me every day as we examine these worldwide trends, discover answers to today's toughest challenges, and together learn to live in the present in light of even better things to come. |
| 0:39.0 | This is Turley Talks. |
| 0:41.0 | Mark Zuckerberg and Metta are in an absolute free fall. |
| 0:53.0 | Users are leaving, revenues down, and their stock value keeps falling. |
| 0:59.0 | Offices are being closed, layoffs abound, and Zuckerberg's wealth is beginning to evaporate. |
| 1:07.0 | We are going to see what's behind the collapse of what was once considered the titan among woke, big tech giants, and stick to the very end of this video when we'll find out why they only have themselves to blame. |
| 1:23.0 | On Friday of last week, CNBC reported on what appeared to be nothing less than an out-of-control death spiral for Metta stock. |
| 1:31.0 | Metta, of course, being the parent company of Facebook. |
| 1:34.0 | Now, get this. Only four stocks in the whole of the S&P 500 were performing worse than Metta. |
| 1:41.0 | Just a year ago, it was beginning to look like Metta was absolutely insurmountable. |
| 1:46.0 | They were sporting a market cap of $1 trillion, putting them up at the financial summit at just a handful of US technology giants. |
| 1:56.0 | But since then, Metta has lost a colossal two-thirds of its value. |
| 2:02.0 | Its stock is trading at its lowest in years, and it's about to close out its third straight quarter of double-digit percentage losses. |
| 2:12.0 | Again, only four stocks in the whole of the S&P 500 are having a worse year. |
| 2:17.0 | As it turns out, millions upon millions of users in the United States and Canada have closed their accounts and dumped Facebook. |
| 2:25.0 | In fact, Gen Zers and Millennials laugh at it. They barely even acknowledge Facebook's existence. |
| 2:30.0 | And as a result, advertisers are taking their business elsewhere, and Metta's revenue is evaporating. |
| 2:37.0 | Needless to say, they've begun closing offices. They've just announced that they've terminated their lease for one of their Manhattan offices, and other offices are shrinking as they transition to hybrid work from home. |
| 2:49.0 | And of course, there are the inevitable layoffs, thousands of them. |
| 2:55.0 | Reports are that as much as 15% of Metta's workforce will be getting pink slips in the next few weeks. |
... |
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