The Facebook stock price is moving higher despite all the noise around the company partially caused by Elon Musk’s negative position toward it.
Last few years we are witnessing Facebook getting numerous objections from many sides. It all culminated when its CEO Mark Zuckerberg last year publicly admitted that the company won’t ever be included in checking the credibility of political parties that are advertising on the social network. Of course, it all was sparked even more when it’s discovered that Zuck had few private dinner arrangements with the U.S. President Donald Trump. It was obvious why it was suddenly allowed to lie. Money seemed to be buying it all.
But let us also mention that despite all these noises around the company, Facebook (FB) stock is moving higher. Its price now is $212,33/ Just compare” a year ago it was around$165.
However, plenty of public faces, including entrepreneurs, actors, singers, etc. rose up to show their disagreements with the platform’s policy. One of them was comic, writer and actor Sacha Baron Cohen. In November last year, he held a significant speech at the Anti-Defamation League, the creator of Ali G and Borat perfectly slammed what he called Facebook founder Mark Zuckerberg’s “bullshit” arguments against regulating his platform.
Comparing Facebook with Nazi Propaganda
He attacked social media platforms for promoting “a sewer of bigotry and vile conspiracy theories that threaten our democracy and to some degree our planet”.
He then said:
“If Facebook were around in the 1930s it would have allowed Hitler to post 30-second ads on his solution to the ‘Jewish problem.’ ”
Be it as it may, it seems that Cohen is still truly pissed off. Last week he wrote pretty frustrated tweet saying:
It didn’t take long however that the Tesla founder Elon Musk responds to the Cohen’s dirge so he tweeted:
Facebook Stock Giving Musk “the Willies”
This came as a little bit of a strange move to do especially from Musk whose Tesla went skyrocketing in the last few weeks – some of it thanks to Facebook promoting it. However, we are all already used to Musk speaking his own damn mind every time he gets an opportunity. And, to be honest, he has been known as a Facebook critic already from 2018. That exact year, Musk deleted his company’s Facebook page and said he doesn’t like Facebook because it gives him “the willies.”
Still, it is not just Facebook where to heads are disagreeing. Both Musk and Zuckerberg have been arguing when it comes to Artificial Intelligence. Musk once even called Zuckerberg’s understanding of the future of AI “limited” back in 2017.
Amazon’s Ad Business Screws with Facebook Stock?
As it’s already known, the world of online advertising has been dominated by Facebook and Alphabet‘s Google for many years now. However, there are indications that Amazon is slowly beginning to get in as well. That may have the current ruling guys worried, even though we could wait for a bit until Amazon becomes a real threat.
Juniper Research says in its last research that, by 2023, Amazon might have yearly advertising revenue of $40 billion (up from almost $10 billion in 2019) and have a 7.7% market share. That implies a 400% growth rate over the next four years. The overall digital advertising market size by 2023 is projected to be $520 billion, according to Juniper. In comparison, Google is projected to have $230 billion in advertising revenue by 2023 (a 44.2% market share).