Why Meta Will Fail and Why Nobody Really Likes the Platforms Anymore
Sebastian Schloemp
I help high-impact businesses achieve their full potential by assembling top talent, building high-performing teams, and leading them to surpass ambitious goals.
In the early days of Instagram, users reveled in a sense of community and discovery. Each login was a dive into a sea of inspiration where authentic content from friends and admired influencers was the norm. Engagement was genuine, comments were thoughtful, and the platform felt like a global village of shared interests.
Today, the experience is different. Users navigate through a deluge of ads, and their feeds are no longer a simple reflection of their preferences but a complex output of algorithms. The blue verification tick, once a mark of distinction, is now available to anyone for a price, blurring the line between earned influence and purchased prestige. For the average user, the platform has shifted from a place of connection to a commercialized landscape, where monetization seems to take precedence over the community. The sense of belonging and the joy of sharing life’s moments have been overshadowed by the platform’s pivot to profit, leaving users nostalgic for the simplicity and authenticity of days gone by.
Let's cut to the chase: Meta is on shaky ground. The company's Q3 financials for 2023 boast a 23% increase in revenue at $34.15 billion, but that's just a distraction from the real story. Daily active people on their platforms are up by a mere 7%—a growth rate that's hardly impressive for a supposed industry leader.
The verification tick, once a badge of honor, is now a $12 commodity. What's worse, ad impressions have surged by 31% while the average price per ad has dipped by 6%. It's a clear sign: people are engaging less, and advertisers are paying less.
Meta's latest gimmick? Charging for an ad-free experience. They've turned their back on the free-access principle that made them a household name. And with just a 3% increase in Facebook's monthly active users, it's clear that the platform is losing its grip.
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With $61.12 billion in cash reserves, you'd think Meta could innovate its way out of this. But it's not just about the money—it's about the missteps and the arrogance of ignoring the needs and values of the very users who built the platform.
So, let's not mince words: Meta's strategy is failing, and the once-beloved platforms are faltering. It's a wake-up call for those who have coasted on past glories. This isn't just a dip; it's a nosedive. The question isn't if Meta will fail—it's when.
(Q3 financials).
Sebastian Schloemp, your take on Meta's current trajectory is a bold one, and it certainly sparks a lot of thought about the future of social platforms. It's a poignant reminder of the shift from user-centric to profit-driven models that many feel has stripped these platforms of their original charm and purpose. The question that arises is, what's the next evolution for social media? If Meta is indeed on the brink, what do you foresee as the emerging platforms that will recapture that sense of community and authenticity users are yearning for?