Kevin Roose: ‘Facebook Is Weaker Than We Knew’

Kevin Roose’s take on the inside look at Facebook revealed by The Wall Street Journal’s “Facebook Files” series, which in turn is based on Frances Haugen’s whistleblower leaks:

It’s far too early to declare Facebook dead. The company’s stock price has risen nearly 30 percent in the past year, lifted by strong advertising revenue and a spike in use of some products during the pandemic. Facebook is still growing in countries outside the United States, and could succeed there even if it stumbles domestically. And the company has invested heavily in newer initiatives, like augmented and virtual reality products, that could turn the tide if they’re successful.

But Facebook’s research tells a clear story, and it’s not a happy one. Its younger users are flocking to Snapchat and TikTok, and its older users are posting anti-vaccine memes and arguing about politics. Some Facebook products are actively shrinking, while others are merely making their users angry or self-conscious.

Facebook’s declining relevance with young people shouldn’t necessarily make its critics optimistic. History teaches us that social networks rarely age gracefully, and that tech companies can do a lot of damage on the way down.

★ Monday, 4 October 2021