Wednesday, October 27, 2021
Without younger users, Facebook could be in big trouble
Former Facebook employee Frances Haugen has shaken lawmakers, parents and probably many others by leaking a host of seemingly damning internal company documents to various media outlets.
But Facebook’s biggest existential threat has nothing to do with most of the disclosures in those documents, such as the company’s inability to stop hate speech, violence or even human trafficking on its website. You know, things that would sink any other company.
Instead, Facebook could end up getting hurt because young people don’t like using Facebook — and the company seems to know that’s a sore spot.
“We are re-engineering our teams to make serving young adults their Northstar, rather than optimizing for the greater number of older people,” CEO Mark Zuckerberg said during the company’s Q3 earnings call.
According to documents Haugen took to Facebook on his way out and leaked to a consortium of journalists, Facebook is bleeding younger users, who are increasingly ignoring the platform for competing services.
The documents show, according to Bloomberg, that Facebook saw a 16% year-over-year decline in the time teens spent using the platform from 2020 to 2021. The time young adults, ages 18 to 29, used the platform, meanwhile, dropped 5%. On the other hand, people over 30 spent more time on Facebook during the same period.
But Facebook covets younger users much more than older people who post photos of their grandchildren. That’s partly because younger people are less likely to dictate their brand preferences, which is something advertisers want to take advantage of. What’s more, if Facebook catches people early, it has potential users for life.
“Once you start putting things on one platform and you maximize that amount of content on that platform, moving to another platform causes extremely high switching costs,” says University of Chicago Booth School of Business. Professor Pradeep Chintagunta told Yahoo Finance in an earlier interview.
“All the birthdays I keep are already on the platform. If I have to move to another platform, it will cost me quite a bit to recreate that whole experience.”
But to do that, Facebook needs to find a way to make its main app appealing to younger users again.
Facebook is smoked by Snap, Instagram and TikTok
Need proof that teens are leaving Facebook? Look no further than Piper Sandler’s Fall 2021 Takes Balance With Teens survey published in early October. The survey, which included 10,000 American teens in 44 states, found that 35% considered Snapchat (SNAP) their favorite social media platform, while 30% preferred TikTok. About 22% of teens liked Instagram the most, although that number continues to fall.
Facebook? That was behind Discord and linked to Twitter as the least favorite social media networks among teens, with just 2% of them liking the platforms. That’s not a good look.
So where do teens actually spend their time? According to the study, 81% of teens said they use Instagram on a monthly basis, while 77% of teens said they use Snapchat and 73% said they use TikTok. And while Instagram and Snapchat numbers have fallen from past highs in previous surveys, TikTok use has soared.
Facebook? Well, only 27% of teens say they use it monthly, down from 35% in Spring 2020, and lower than both Twitter and Pinterest. In short, teenagers are not crazy about Facebook. Like an 11 year old kid reportedly told the company’s own investigators, “Facebook is for old people.”
That said, they are clearly fans of Instagram. So why does it matter that they don’t use Facebook itself? After all, it’s all the same company.
Because Facebook’s flagship app is its crown jewel and where most of the users are. In the third quarter, the company reported that the Facebook app family has 3.58 billion monthly active users. A huge number to be sure. But 2.91 billion users come directly from the main Facebook app.
In total, the Facebook app makes up more than 81% of the company’s monthly active user base. That’s a resource the social media giant can’t afford to see shrink. And if it can’t add new younger users, it will eventually.
Zuckerberg dumps the oldies
It’s not that Facebook isn’t aware of these changes. Haugen even claims that Facebook misled investors about younger users while focusing on overall user growth among all ages. That’s why she gave the documents to the Securities and Exchange Commission.
But even if the SEC finds that Facebook has misled investors, it’s unlikely that serious action will be taken against Zuckerberg, such as removing him from his position as chairman, as Tesla’s Elon Musk did.
“It would be surprising if they did,” explains James Cox, a professor at Duke University Law School. After all, he said, members of Congress who consider tech companies to be their constituents would object to such a move.
Instead, Cox said, it’s more likely that the SEC would put in an outside monitor to make sure Facebook submits periodic reports on its user numbers.
Meanwhile, Zuckerberg is fighting to make sure Facebook doesn’t become the next MySpace, which saw its own audience shrink around the time Facebook first launched.
“Historically, young adults have been a strong foundation and that’s important because they are the future,” Zuckerberg said during the company’s earnings call. “But over the last decade, the audience using our apps has grown so much and we’ve focused on serving everyone, making our services the best for most people who use them, rather than specifically for young people. adults. “
And that’s where the company’s retooling efforts around young users come in handy. However, don’t expect it to happen overnight.
“This shift will take years, not months, to fully execute, and I think it’s the right approach to build our community and our business for the long term,” Zuckerberg acknowledged.
Facebook’s CEO has not gone into details about how the company will change its focus on younger users. But one hint could be Facebook’s efforts to build out a version of Instagram for kids.
The controversial platform, which the company has put on hold after pushback from lawmakers, is designed to appeal to children under 13. Facebook already has a version of its Messenger platform for kids, and if a version of Instagram is already in the works, it’s possible the social media company will create a kid-focused version of its main Facebook app. Those children, in turn, could become Facebook users as young adults.
However, if Facebook fails to lure younger users, advertisers may finally start to notice.
Through Daniel Howley, technical editor at Yahoo Finance.
Read the latest financial and business news from Yahoo Finance
Vegan restaurant trend shouldn’t put global cuisine on the back burner
The restaurant industry as a whole has never received as much attention as it did during the COVID-19 pandemic. It was a rare day when the news cycle didn’t include a story about restaurant closures, job losses, food shortages, a shift to takeout, and the debate over which restaurants should receive financial support, why and how.
But if there was a trend in restaurants during the pandemic, it would be the move towards vegan restaurants, incorporating even the most meat-centric cuisines into their menus.
REET revised 2021 result released on reetbser21.com, direct link to check here
Updated 07 Dec. 2021 | 13:58 IST
REET Revised Result 2021 is now available on the official website of Rajasthan Board of Secondary Education, reetbser21.com. Candidates can download their results using references like role number, name etc.
REET revised result 2021 | Photo Credit: Representative Image
- Rajasthan Board of Secondary Education has released REET Revised Result 2021.
- Candidates can download it from reetbser21.com.
- The board has also released results for the candidates who qualify for Level 1 BEd and BSTC/DLEd.
Rajasthan Teacher Aptitude Exam, REET Revised Result 2021, has been released by the Rajasthan Board of Secondary Education, Ajmer. The board has announced the results of both level 1 and level 2 exams. Candidates who sat in the REET 2021 exam can check the revised result on the official website, reetbser21.com.
There is no change in the level 1 result according to the notification. However, there is a minor correction in the REET Level 2 paper. The correct answer of J series question number 74 of English language turns out to be B and C instead of A and C. The direct link to check the revised 2021 REET result is shared below for reference.
REET Revised Result 2021 has been released after correcting the answer to this question from other series K, L and M. The site is experiencing a lot of traffic. The steps to download results are also shared below for reference.
REET Revised Result 2021: How To Check Here?
- Visit the official website of Rajasthan Board of Secondary Education, Ajmer, at: reetbser21.com.
- Visit the ‘REET Result 2021 for Level 1 and 2’ section available on the homepage.
- You can also click the direct link here – REET Revised Result 2021 (Level 1) & (Level 2).
- Enter username, password and other credentials to login.
- Download the result and also make a printout for future reference.
Related I REET Final Answer Key 2021 Released on reetbser21.com-Steps to Download
The board has also released the results of the eligible candidates for Level 1 BEd, and BSTC/DLEd has been released. Candidates are advised to use the direct link below to get more updates about REET Revised Result 2021.
To get latest news and live updates, Latest education news, updates from the Minister of Education, CBSE News and other governance results
Action for Sport in National Lottery Community Fund grant of £10,000
A BRADFORD charity that gives donated sports shoes, boots and trainers to underprivileged children in the district has been awarded a £10,000 raffle grant.
Action for Sport has received funding from The National Lottery Community Fund, the UK’s largest funder of community activities.
The charity was co-founded by Clive Michallat, who has been a scout with the Bantams for over 15 years, and Andrew Kenure and started in March last year. The donations of football boots or trainers from the charity are given to children to use for their own sporting activity.
Mr Kenure said: “Without National Lottery players, projects like ours could not exist.
“Clive and I have made huge personal sacrifices to get this project started, but we couldn’t go ahead without the funding.
congratulations to #Bradford project @ActionForSport that £10k . have scored #National Lottery funding for the collection and distribution of sportswear, making poverty a barrier for children to enjoy sports.⚽️⛹️
— The Community National Lottery Fund (@TNLComFund) Dec 8, 2021
“Everything we do, from cleaning the boots to paying for our insurance, costs money and we couldn’t cover all those costs ourselves.
“The funding will also allow us to expand into other areas of Bradford where we have not yet worked and hopefully enter secondary schools as well.”
“And it’s a real ‘sliding door’ moment because you think, what would that boy’s life be like if he didn’t have those boots?
“Would he have developed diabetes over time or gotten into trouble as a teenager? The impact on children’s lives of getting them involved in sports really cannot be underestimated.”
Mr Michallat said: “Recently we went to a school and a parent approached us and said, ‘You just don’t know what you’re doing. My son is like any other kid when he puts on those football boots. His confidence has increased, he has joined a local team and he makes more friends and hangs out with a lot of different people.’”
Joe Dobson, Head of Funding for Yorkshire and Humber at The National Lottery Community Fund, said: “Thanks to the National Lottery players, this vital funding will have a huge impact on the lives of young people in Bradford.
“The past year has been incredibly challenging for communities and we applaud the volunteers and groups who have been a lifeline for so many.
“As we all look to the future, we are excited to see how local groups will use this funding to further support their communities to thrive and prosper.”
If you would like to donate old children’s sports shoes, please email [email protected] or make a donation at peoplesfundraising.com/donation/action-for-sport
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