I just sold all of my Facebook stock.
Apple’s upcoming iOS 14 update represents a serious threat to Facebook’s core business. This new feature, which gives people an easier way to opt out of ad tracking, could have a major impact on the efficacy of Facebook’s advertising platform.
In response, Facebook has launched an all-out assault on Apple and started developing new tools for navigating this uncharted territory. However, the challenge will become greater as more people update their devices and businesses can’t reach them anymore.
Unfortunately, this is just one of many concerns. Facebook has also been constantly on the defense in addressing other problematic issues related to its products, including tech addiction, data privacy, misinformation, election interference, monopoly power and antitrust law.
I’m not arguing that Facebook will disappear or lose its grip on the digital ad market, but the company has simply lost my vote of confidence.