The Cost of Outage: Zuckerberg’s Losses After Facebook and Instagram Global Crash

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Zuckerberg's Losses After Facebook and Instagram Global Crash

Meta Services including Facebook and Instagram Down Globally

All of a sudden Instagram and Facebook stopped working on Tuesday evening. 5th March 2024. Soon after Twitter was flooded with several complaints shared by netizens who were perplexed by the unknown situation. Many were complaining about the sudden logging out problem they were facing while opening Facebook and Instagram, some were unable to log in again, and some were unable to refresh and scroll on both Meta’s owned platforms. Not one or two but people from all corners of the world were facing the situation which caused frustration and confusion. 

Meta’s Owned Platforms Went Dark

Not only did users of Facebook or Instagram face trouble, but even the situation on Threads and WhatsApp was also similar. Later on, it gets to know that Meta’s server went down which caused a baffling situation among the users. After watching the concerns of the users, Andy Stone from Meta addressed the situation on X (formerly known as Twitter) and shared the reassurance that Meta’s team were working on it and solutions were in progress. Stone issued a statement regarding the same which reads that “resolved the issue as quickly as possible for everyone who was impacted, and we apologize for any inconvenience.”

Not only social media users were in a frustrated situation but Meta’s owner Mark Zuckerberg was also frustrated as the situation caused him to lose millions of dollars. Global outage hits platforms coming under Meta, leaving users disconnected and the company financially impacted. It took hours to get the social media platforms back on the situation. After observing the situation, experts state that this widespread disruption had made a major negative financial impact on the company. As per the reports of media outlets, the share price of Meta fell down by 1.5%. However, it has since fallen by 1.6%. 

Now experts have shared the numbers which point out the amount lost by the firm due to server down. As per Experts, Zuckerberg lost as a result of this massive downtime. The managing director of Wedbush Securities, Dan Ives informed a media outlet that Mark Zuckerberg lost about $100 million in income on Tuesday morning as a result of the platforms going down all over the world.  

Why Were Meta’s Server Down?

All the social media platforms that come under Meta faced technical glitches or server-down issues which resulted in a long hours outage. A similar situation occurred in 2021 when Facebook and Instagram went dark for 7 hours. However, this time, the technical glitch was resolved within 2 hours. Facebook’s representative states that the internal systems of Meta were down at the time of the outage, with the service dashboard of Meta indicating “major disruptions” across many services. 

The technical glitch happened shortly prior to the deadline on Thursday for Big Tech firms to cling to the new Digital Markets Act of the European Union. It has been assumed that Meta was making changes to abide by, which could have led to coding errors that caused the outage. It is speculated that Meta might be looking for more changes like permitting users to separate their Instagram and Facebook accounts to safely combine personal data for targeted ads. However, it is yet not known if the outage is connected to preparations of Meta for the Digital Markets Act (DMA).

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