The Week in Social: Facebook loss, Twitter apps, and YouTube hashtags
30 Jul 2018
The week in social
120 billion, with a ‘B’
It was a bombshell. If you hadn’t heard it by now, then we hope you had a great vacation… on the moon… with your fingers in your ears. On Wednesday night, Facebook stock lost nearly 120,000,000,000 dollars in value. That loss is 4 times the market worth of Twitter. Or, it’s very nearly market value of McDonald’s. Overnight, every McDonald’s in existence disappeared.
The drop in value can be attributed to the outcome of the Cambridge Analytica scandal, slowing user growth, and CFO David Wehner’s announcement that the business would be in a squeeze. The squeeze, he indicated, would be because the company has to reinvest in heading off concerns about privacy while still maintaining profitability. Essentially, protecting user privacy is expensive.
Read more on The Guardian
Facebook Aquila gets satellites
Part of the reason Facebook’s value fell is the sense that the company is nearing market saturation. At this point, most people in the world that have access to Facebook have already made a decision to join or not to join. The answer? Bring connectivity to the half of the world that doesn’t enjoy internet access. Facebook is officially ditching high-flying internet-providing drones in favor of satellites.
Read more at The Verge
Facebook in China
Also in the realm of places that do not have access to Facebook, China may be warming to a Facebook presence. Facebook will be building an “Innovation Hub” in Hanzhou. The hub will support Chinese startups, innovators and developers. This is not the un-banning that Zuckerberg might be driving toward, but it is a foot in the door.
Read more at The Verge
Syndicating shows in Snapchat
Complex Network’s hit show “Sneaker Shopping” will soon be found on SnapChat’s Discover page. The show will join other existing properties such as “Hot Ones”, “Worth It”, “Struggle Meals” and “Weekend Refresh”. The shift to syndicated content veers from Snapchat’s previous strategy of creating original programming.
Read more at Digiday
If it’s happening near you, Google will find it. Searching for “events near me” will show you all the concerts, events, shows, tastings, and more. Google says the feature provides more relevant results, with less searching and clicking. The feature also includes a “For You” feature, an algorithm-driven list of personalized events. It’s one more way to discover what Google thinks of you.
Read more at Google
Twitter axes 143,000 apps
Read more at Twitter
Instagram Story reactions
On Instagram, the only way to respond to a good story is to DM its author. The need for the occasional love, like, thumbs up or other has been growing, and Instagram is responding. Reddit users spotted a trial version of emoji responses within Instagram stories. We’re eager to see the feature rolled out worldwide.
Read more at Refinery29
YouTube has Hashtags now
Hashtags are the conversational connective goo on Twitter and Instagram. YouTube is stepping into the fray by enabling tag use in titles and descriptions. The feature is only available on Android Web for now.
Read more at PCMag