Wong Fu’s Philip Wang Hilariously Breaks Down Why Facebook Lost $120 Billion in Value in One Day
Wong Fu’s Philip Wang hilariously tries to explain why Facebook lost $120 billion in stock by poking fun at the social media platform’s outdated and useless features.
In a series of videos posted online, Wang points out how the engineers working at Facebook continue to use the features it implemented a few years ago.
He proceeded to show icons such as ads manager, offers, notes, jobs, games, live video, recent ad activity, and others found on the left side of the home page.
Facebook still has the wave and poke interaction on its platform.
The “More” drop-down option is also useless to everyone who uses the social media site.
But Wang says the most useless feature on Facebook is the “Answer Question” tab, which has the potential to be its own Quora or Yahoo Answers. Instead, this is what Wang found when he tried to answer a question.
Facebook’s quarterly report released on Thursday revealed that it is the only company in the United States stock market history to make the largest one-day loss in market value, CNBC reported.
Only two tech giants came close to losing $100 billion in market value in just one day back in 2000: Intel, which lost $90 billion, and Microsoft with a loss of $80 billion.