Facebook social media company set a new record. This time is not an enviable record for being the biggest loser in the New York stock market (NYSE). Facebook Inc. shares fell deeply to 24 percent in after-hours trading after hours on Wednesday, July 26, 2018.The loss value up to 150 billion USD (equivalent to 235.2 trillion (with the exchange rate of 1 USD = Rp14,000) that makes the wealth of its CEO, Mark Zuckerberg fell to 70 billion USD. Zuckerberg position as the richest third person in the world also slipped to sixth position (Bloomberg Billionaires Index). Zuckerberg's amount of wealth dropped drastically in just two hours.On September 22, 2000, Intel Inc. lost a market capitalization of US $ 90.74 billion when the dot-com bubble burst. Earlier that year, Microsoft's company also lost the US $ 80 billion in market capitalization in just one day. Other companies that experienced similar losses, including Apple in 2013 which lost US $ 59.6 billion and Exxon Mobil in 2008 (the US $ 52.5 billion).What makes Facebook stocks fall out? Certainly not because someone is campaigning delete Facebook in Steemit.
According to various sources, Facebook's huge losses came a day after the company reported lower-than-expected second-quarter earnings. In addition, the number of daily active global users also dropped dramatically. Though the number of daily active users to be the main size for Facebook.The company also forecasts that revenue growth rate slows in the second half of this year as some variables include cost increases. The case of data leaked Facebook account owner makes the company improve the security system.Apparently, public confidence in social media began to decline, affecting the number of active users. A data leak scandal in which 87 million user data was illegally accessed by Cambridge Analytica significantly affected.Is the emergence of new platforms influencing the number of users so that many are migrating? So far no public research has been found yet, although the reasons for saturation and declining trust may be a reasonable excuse. Apologies due to data leakage and ongoing improvement efforts with innovations are not enough to maintain user loyalty, let alone add new users.The number of Facebook in Europe has declined to three million daily users and one million monthly users since the first quarter of 2018. This is largely due to the EU General Data Protection Regulations (GDPR), which were in effect during the quarter. Previously, many analysts speculated that GDPR would benefit giants like Facebook and Alphabet as they would be able to implement new requirements like smaller companies. Apparently, the facts are the opposite.Despite continuing to innovate and strengthen the security system, Facebook seems unable to maintain user loyalty. Technology changes, taste also changes. Is this the beginning of the end of Facebook? It's too early to conclude the Facebook period is over.