Did your thumbs enjoy that scrolling vacay? Cos The Zuck's bank account didn't.
Background: Depending on how obsessed with social media you are (for us, a lot), you may or may not have noticed that Facebook, WhatsApp and Instagram (aka Zuckerberg's trifecta) all went down yesterday morning.
What happened: In the wee hours of Tuesday morning up until around 8.45am, the three social platforms went dark. And the Internet flocked to Twitter to make memes about it.
What else: While it was mostly funny for us mere mortals, but the Zuck lost around US$6 billion of his personal wealth. And businesses who use the platforms for advertising also suffered.
💡The impact of a social media can be funny, but it ain't all jokes and laughs, Flux fam.
💡Instagram and Facebook are economies unto themselves, where people can see advertisements and make purchases on the platform. So when they go down...it can cost businesses a lot. In fact, reports show the outage cost the global economy around US$160 million.
💡It can also cost FB a lotta cash too. The social media giant was losing around US$545,000 in ad revenue per hour during the outage...and the company's share price dropped around 3%. Yikes.
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