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Meta Cancels Development of Health and Messaging-Focused Smartwatch

Facebook: "Hey, we noticed a website phoned home to us with your account details! Here are some targeted ads for hemorrhoid cream, as we know where you were..."

Facebook Watch: *beep beep beep beep* (checks watch) "Hey, this store right here sells hemorrhoid cream! They totally didn't pay us for an ad! Honest..."
 
I feel the issue is the competitive pressure Meta faces from Tik Tok, which specialises in algorithm-driven feeds. This in turn forces Facebook to keep pushing users content based on what its algorithm thinks they want, vs content that users have already indicated interest in. It's forcing Facebook into trying to be something they are not just to stay relevant.

Meta is also under pressure to find the next big think, which they clearly have no idea what to do. This has resulted in heavy investment in a number of initiatives. This means that Meta may end up burning tons of cash over the next decade with no end in sight, which has clearly spooked investors as well.

I really don't see a way out for Meta.
 
FB is done competing in anyway, with anyone. IG and WhatsApp will only keep them afloat for so long.

If Apple ever releases AR/VR at a reasonable price (hahaha) FB’s hardware days will be over. The fact they thought they’d ever compete with a watch is hilarious.
 
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Maybe I'm getting old, but I remember when Facebook mattered. And I'm just glad it doesn't any more. It's going to take a while for facebook's shareholders and the hype machine around Facebook as a 'tech company' to get it though.

WhatsApp has a future though, 8 billion a year mostly from businesses using it to communicate with customers, good network effects keeping most of the world using it. If they don't kill the golden goose it'll be here for years to come.

it's success is partly due to people not associating it that strongly with Facebook.
 
chucker23n1 said:
"The house always wins" is arguably a façet of capitalism. In an imaginary economic system where the workers have more power, they might have ousted him. Instead, with Meta, it's the shareholders who can oust him, not the staff.
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Impossible for shareholders to oust him, Zuckerberg has 54.4% of Class B stock which has 10x the voting power of a regular share. The house always wins... unless it burns down.
 
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Cromulent said:
I have no idea why people would want a device that tracks them where ever they go and sends it to Zuckerberg. I know the Apple Watch sends data to Apple, but they are way more trustworthy than Meta.
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So much more trustworthy? Lol. Hold on let me click on this ad real quick.
 
Abazigal said:
I feel the issue is the competitive pressure Meta faces from Tik Tok, which specialises in algorithm-driven feeds. This in turn forces Facebook to keep pushing users content based on what its algorithm thinks they want, vs content that users have already indicated interest in. It's forcing Facebook into trying to be something they are not just to stay relevant.

Meta is also under pressure to find the next big think, which they clearly have no idea what to do. This has resulted in heavy investment in a number of initiatives. This means that Meta may end up burning tons of cash over the next decade with no end in sight, which has clearly spooked investors as well.

I really don't see a way out for Meta.
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Yep. Facebook is doomed. No way out.
 
I am beginning to look for reverse gear with all this. Trust has almost gone with all these companies and I'm looking for capable devices that don't send everything to the company making them. Hello ordinary Tissot watch and digital camera. More than that I'm still using a Pentax DSLR because of the viewfinder and menu system which allow me to concentrate purely on making the photograph. The turning point was a summer visit to Paris and particularly the garden at Giverny where there were vast queues of tourists viewing everything through their smartphones. It was a real turnoff. Just need to hunt down an electric typewriter!
 
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The problem Meta has and will continue to have is that people have become more and more sceptical of Meta with regards to users info because everytime Meta comes up with a new software idea or a new device idea, immediatly people begin with 'Is this Meta's new way of trying to get my user info?'. Meta's business model is the dealing in users data and if Meta is unable to get new users into it's network of software platforms and devices, it means 3rd party companies are not going to pay Meta the large sums of money that they currently do to harvest Meta's users data.

Just look at the billions of $$$ it is losing from Apple due to Apple's implementation of ATT (App Tracking Transparency). According to Forbes Facebook stands to lose $12 billion in ad revenue in 2022
www.forbes.com

Apple’s Privacy Features Will Cost Facebook $12 Billion

Apple’s ATT features are going to hit Facebook harder than previously thought, but a new study has shown how app developers can get around them.
www.forbes.com www.forbes.com

That is a huge hit to take and will have a knock on effect to it's parent company Meta. Meta cannot afford to keep on taking such hits year on year because if they do not change now there wont be a Meta as we know it in the next few years.
 
Let's have Elon purchase Facebook and its "parent company" Meta and make it obsolete... Sell Instagram and dissolve WhatsApp...
 
RedWeasel said:
Taking responsibility would mean to step down.
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I think that's a bit extreme, and I'm also not sure it's ultimately productive. How would that work in practice?

a) Mark lays off thousands, but also steps down. OK, now the new CEO has to deal with the fallout.
b) Mark doesn't lay off, and steps down. OK, now the new CEO inevitably comes to the same conclusion and has to lay off thousands.
 
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chucker23n1 said:
I think that's a bit extreme, and I'm also not sure it's ultimately productive. How would that work in practice?

a) Mark lays off thousands, but also steps down. OK, now the new CEO has to deal with the fallout.
b) Mark doesn't lay off, and steps down. OK, now the new CEO inevitably comes to the same conclusion and has to lay off thousands.
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The problem is that he failed as CEO. And he will continue to fail as CEO. Because he is unable. He was once lucky in his life and now thinks he has some kind of ability when it comes to be technology leader, which isn’t, was never and will never be the case.

So the only sensible option is to remove him from any position of power within Meta.

Edit: And yes, you’ll probably still have to fire a lot of people, because they should never have been in their jobs in the first place.
 
everlast3434 said:
Apple would never steal our data! https://mashable.com/article/apple-data-privacy-collection-lawsuit
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"Mysk conducted the test using a jailbroken iPhone running iOS 14.6. The team discovered similar iPhone activity with a non-jailbroken phone running iOS 16. However, due to encryption, Mysk could not determine exactly what data was being sent on the device using the latest operating system."

Though it looks sketchy, I would wait and see before crying wolf.
 
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I love how everyone is saying "Twitter is doomed", but if you really think about this all, it's actually Meta that is facing much greater issues these days than Twitter.
 
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