Meta’s crisis stems from not telling us the whole truth
Its users were largely unaware of its tracking model for ad revenues and its metaverse pivot looks weak
Just this month, US-based Meta Platforms, which owns Facebook, WhatsApp and Instagram, announced a massive lay-off of 11,000 employees, about 13% of its workforce, to cut costs. Major inflection points cause tectonic shifts in institutions and the environment, with swift consequences. Meta’s troubles illustrate this.