Facebook Sees 24% Drop In Average Time Spent On Site

While Facebook grapples with an explosion in overheadexpensive regulations in Europe (and possibly soon in the U.S.), a staggering decline in traffic, backlash over conservative purging and pedo questionnaires, and a former executive who went public in December with his "tremendous guilt" over helping to hook people on the "internet crack" that is social media - the Silicon Valley behemoth is facing a new challenge; a 24% drop in the average time spent on the site. 

Now new numbers have been released that go through December, and the problem only seems to be getting worse. The updated data shows that Facebook’s core platform lost 18% in time spent, which is a huge change from the month before. This, says Pivotal, reflects a 24% decline in time spent per person.Instagram, too, saw some poor engagement numbers. Though aggregated consumption went up, the user base went up at a higher clip, meaning that time per person went down 9%. -Fast Company

Recent changes to Facebook's algorithms which prioritize posts from friends and family over promotions have been blamed for lower engagement - as Zuckerberg warned shareholders about in January.

Perhaps that's why CEO Mark Zuckerberg and other insiders are dumping shares

Zuckerberg isn’t the only insider to sell Facebook stock during February, however. SEC filings reveal a long list of other insiders who also sold FB stock. VP David Fischer converted some restricted stock units this month and sold thousands of shares, including about 18,000 shares this week as part of his prearranged trading plan.

Other insiders who have converted and/ or otherwise moved around some FB stock this month include Chief Operating Officer Sheryl Sandberg, Chief Financial Officer David Wehner, director Kenneth Chenault, Chief Technology Officer Michael Schroepfer, General Counsel Colin Stretch, Chief Product Officer Christopher Cox, and director Jan Koum. That’s quite a list, as usually insider sales of Facebook stock occur on a much smaller scale, based on the regulatory filings of insider transactions. -Yahoo! Finance

Former Blackrock manager Ed Dowd of OceanSquare Asset Management - currently short the stock, thinks the "drumbeat of regulations" will put a dent in Facebook shares.

"Facebook has hired 14,000 people working on “community safety” to prevent “Fake News”," notes Dowd. "They will be at 20,000 people by end of 2018. That is an absurd amount of overhead. FB opex/capex combined was +37% in 2017. They are guiding it to +45-60% in 2018!"

Perhaps users took former Facebook exec Chamath Palihapitiya's advice from December to heart. Palihapitiya - Facebook's VP for User Growth who left after a decade with the company, told a group of students at the Stanford Graduate School of Business that he feels "tremendous guilt" for his role in building the social media giant and warned  that "if you feed the beast, that beast will destroy you..." (you can view the relevant portion of the interview here).

Palihapitiya went on to criticize not only Facebook, but Silicon Valley's entire system of venture capital funding saying that investors pump money into "s**tty, useless, idiotic companies," rather than addressing real problems. Palihapitiya currently runs his own VC firm, Social Capital, which focuses on funding companies in sectors like healthcare and education.

You can watch Palihapitiya's full interview below:


J S Bach BlackChicken Fri, 03/09/2018 - 13:49 Permalink

(((Their))) censorship efforts are beginning to pay off - FOR US!

Just continue to boycott every corporation which has as their agenda the destruction of your kind.  It's easy and fun knowing you're doing your part to bring the Zuckerbergs, Weinsteins, Bronfmans, Zuckers and their tribal band down.  What they can't stand more than anything is a reduction in their nefarious profits.  💩 ➤ 🇮🇱

In reply to by BlackChicken

JimmyJones IH8OBAMA Fri, 03/09/2018 - 13:56 Permalink

Can't start censoring secretly when there is alternative media still in place to expose it.  The generation below the Millinals doesn't even use FACEBOOK, older people don't like the censoring so they are leaving and going back to email chain sharing.  The F'ed up.  Wait till more reports come out about how companies slash their online FB/Google advertising and dont see a change in sales again.  We all know their numbers are just as bogus as the TV ratings from Nelson.

In reply to by IH8OBAMA

techpriest Potato Farmer Fri, 03/09/2018 - 15:38 Permalink

At this point, the one group that's on FB that makes me bother to go there has just moved to Discord, so at this point I don't have a reason to go.

Also, the developer community I'm in is working on a variety of open social projects, so it might be good to maintain a running list of platforms that prohibit censorship by design. Namely, the kinds of places you set up and run yourself.

In reply to by Potato Farmer

FireBrander giovanni_f Fri, 03/09/2018 - 14:55 Permalink

Facebook is trying to stop "fake news" which is proving difficult and expensive...Craigslist has a serious "fake ads" problem...wholly fuck..the amount of scam listings is really pissing me off.

Motorcycle for sale on Craigslist at $2000...NADA is ~$5000...location of bike is a few miles from me...single picture of bike has palm trees in the background...I don't live within a 1000 miles of a palm tree.

$25hr Gig listing on Craigslist..job description only, no business name or exact location...I applied, didn't give my name or any real info, and I got the job!...they need my bank acct number and routing so they could direct deposit my paychecks...geeesh.

People must fall for these scams because it feels like, at times, they are 50% of the Craigslist listings.

In reply to by giovanni_f

gaoptimize Joe Davola Fri, 03/09/2018 - 14:22 Permalink

Here's my story from CPAC 2018.  So Facebook had a booth at CPAC this year.  I was shocked.  They were even a sponsor.  Full disclosure:  I'm an InfoWars listener, so I get weekly updates about what Facebook is doing to InfoWars and some of the guests' content, followers, and links (radical dis-engagement through algorithms).

I confront the guy running the booth about this.  He denies it all, lying to my face with absolutely no remorse (a sign of a psychopath/sociopath).  With smoking gun evidence from another article yesterday, I sent him a FOAD note ( gov@fb.com ) about how creepy he was.

In reply to by Joe Davola

CTacitus J S Bach Fri, 03/09/2018 - 18:15 Permalink

(((They))) are sweating trying their best to censor this:

By then, the documentary on the U.S. Israel Lobby was in the can and ready for airing.  But it never did (or hasn’t yet).  In the past few months there has been a furious tug of war between those targeted in the documentary and their Lobby supporters in Congress and the Trump administration, and human rights and media activists lobbying for the Qatari government to air it.  So far, the Lobby appears to be winning the battle.  For months, the program has been ready to air but not received permission from the authorities.



The leading neoconservative think tank Foundation for Defense of Democracies is functioning as an agent of the Israeli government, Al Jazeera’s forthcoming investigation on the US Israel lobby will reveal.

According to a source who has seen the undercover documentary, it contains footage of a powerful Israeli official claiming that “We have FDD. We have others working on this.”


In reply to by J S Bach

Automatic Choke SlipStitchPass Fri, 03/09/2018 - 13:49 Permalink

14000 (soon 20000) people to sift out fake news??????

even if they are WRITING fake news, that is ridiculous.    if they can't do that with a dozen people working on edit-bot algorithms, then there is no WAY a self driving car can ever hit the road safely.   why do they need people for this?


(as for facebook ship sinking.....good riddance.)


In reply to by SlipStitchPass

mkkby Automatic Choke Fri, 03/09/2018 - 15:00 Permalink

Proves artificial *intelligence* is more fake than the news from CNN or CNBC.  Why do they need 20k editors when computers are smarter than people???  Tell us now Zuckershit.

I've always said REAL self driving cars were decades away.  Of course SI valley will sell them sooner, but they'll default to 15 mph when their brain freezes and can't tell a lamp post from a jaywalker.  Which will happen all the time.

In reply to by Automatic Choke