Although seemingly recovered from recent scandals, Facebook's shares experienced a 20% plunge today after shifts in its ad business indicated it would be less profitable in future years. Additionally, the social network reported that its userbase in Europe had actually shrunk after a new privacy law, which is rare for Facebook, which boasts a steadily growing userbase. The drop wiped out about $120 million in market value.
I don't really follow the stock market, but I'm more curious to know if anyone else has sensed that Facebook is becoming less popular. I've personally noticed that the teenagers I know are less likely to use Facebook and more likely to spend their time of other social media networks, particularly Snapchat or Instagram. Although Instagram is owned by Facebook, I think that still represents a movement away from Facebook as a network. Of course, I'm drawing conclusions from a very small sample of individuals that I know, so I might be completely off-base.
What do you think? Do you and your friends still use Facebook? Is this the beginning of the end for the network, or do you think they will dominate for years to come?