Facebook finally disabled over 1/4 of it’s accounts for being fake. Facebook “disabled” 583 Million fake accounts in the first quarter of 2018. FB “disables” another 6.5 million fake accounts a day plus the company estimates that there is another 3% of accounts which are fake.
We always knew FB was built on smoke and mirrors. How did we know that? There was too much growth, too fast. Social media needs the fake accounts to make their product numbers to look better, to attract new investors and promote an ever-rising share price.
There are too few effective advertising channels. Traditional media is dead. Radio, newspapers, etc. (See the statistics in previous posts). As the pricing of active advertising channels skyrocketed such as Google Adwords. That meant small advertisers had nowhere to advertise cost-effectively and are desperate. “Any port in a storm” is the saying.
Along came the next hoax. Social media was touted as the next big medium for advertisers to run too. The hype worked. Legit users signed up on FB and other social media sites to show pictures of their dogs, their kids birthday party, a day at the beach, to their very close 250 friends. (Like, who freakin’ cares what we are doing?) When FB users should have been riding their bikes at the park or walking their dogs or even going to the local coffee shop to meet real people and do other real things they were busy sitting front of their screens. There is something really, really weird about that.
Now, the novelty of showing the world when you went to the bathroom is quickly wearing off. The last quarter of 2017 showed that people are spending less time on their FB accounts. A decline of 2 hours per week per user. I still can’t understand why users are spending time on FB. That needs to be discussed by a social scientist who has a much higher IQ than me.
Share prices for Facebook have almost fully recovered from their debacle with Cambridge Analytica. That only proves that there is too much money chasing too few advertising channels. It does not show that FaceBook is worthy of your advertising dollar.