Facebook Loses More than $50 Billion in Market Value

Facebook Loses More than $50 Billion in Market Value

In The News

According to a CNBC article published on Thursday, January 30, 2020, Facebook (FB) plunged at open, wiping out more than $50 billion in market value. So, this news that Facebook loses more than $50 billion in market value will certainly disappoint many investors. For me personally, my immediate thought, when I read the headline, was that I am glad I do not invest in this stock. I’ve always believed that no amount of money gained by investing in this so-called “tech” stock would be worth it.

Not because of any concerns that I won’t make a decent return on this stock in the short run, but because of the negative impact that Facebook (and other social media platforms such as Instagram and Twitter) has on society, and our kids. As a matter of principle, I choose not to invest in Facebook or Twitter and I encourage other investors to consider the long-term damaging effects of social media before investing in them.

Question for readers: How is Facebook a technology anyway? Technology is supposed to make our lives easier and less stressful. Facebook has the complete opposite effect. It’s a big time-waste and a distraction from more important things in our lives.

Ready for a 30-day challenge? Want to improve your life? Disconnect from Facebook (as well as Instagram and Twitter) for 30 days. At the end of the 30 days, I guarantee that you will feel liberated and experience less anxiety in your life. Google “digital minimalism” for additional ways to improve your life. 

Link to Article Referenced in This Post

Facebook plunges at open, wiping out more than $50 billion in market value
https://www.cnbc.com/2020/01/30/facebook-plunges-at-open-wiping-out-more-than-50-billion-in-market-value.html

Helpful Links to Research The Negative Effects of Social Media

6 Ways Social Media Affects Our Mental Health
https://www.forbes.com/sites/alicegwalton/2017/06/30/a-run-down-of-social-medias-effects-on-our-mental-health/#43a66fe72e5a

The FOMO Is Real: How Social Media Increases Depression and Loneliness
https://www.healthline.com/health-news/social-media-use-increases-depression-and-loneliness

Social Media and Teens: How Does Social Media Affect Teenagers’ Mental Health
https://www.psycom.net/social-media-teen-mental-health

Social media linked to rise in mental health disorders in teens, survey finds
https://www.nbcnews.com/health/mental-health/social-media-linked-rise-mental-health-disorders-teens-survey-finds-n982526

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