Although Wall Street may have panicked Thursday, this wasn’t actually a disaster that happened overnight—or even over the past quarter.
In reality, this is a disaster that was a long time in the making, one that I could argue is solely created by the decisions of Meta’s founder, Zuckerberg, and one that is finally coming home to roost after years of the company doing—please excuse my French here—whatever the fuck it wanted. Facebook has spent the past decade and a half trampling on people’s privacy. It repeatedly broke rules and regulations. It copied competition. Snuffed out competition. Bought competition.
And through all this, Zuckerberg was recalcitrant and unempathetic, and simplyAs a result of these actions, the company has painted itself into a corner. It’s too big to be able to acquire its way out of the problem. Even if it were possible, could you imagine regulators allowing Meta to buy TikTok or Snap? Not a chance.
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