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Nairaland Forum / Science/Technology / Phones / Tech Giants Who Suffered Huge Losses In July 2018 (12683 Views)
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Tech Giants Who Suffered Huge Losses In July 2018 by TechCapon(m): 9:24pm On Jul 29, 2018 |
TechCapon The month of July happens to be a very bad month for many tech giants and I’m very sure almost all the affected companies can’t wait for the month to just go away forever. The loss they incurred was huge and massive, running into billions and billions of dollars. From Facebook, to Google, Amazon, etc all suffered one bad fate or the other that had wiped billions of dollars of clean off. As for Facebook, it was the worst month ever as the tech giant was facing attacks from all angles ranging from data leaks, accusations of allowing the spread of fake news, law suits etc but one thing we know for sure is they will bounce back. 1.FACEBOOK $120 billion (Biggest loss in US history) It was a monstrous disaster, Facebook lost as much as 23 percent of it’s shares in the largest single day loss ever recorded in the history of the United States. As for Mark Zuckerberg who is the highest shareholder, he lost almost $17B of his personal fortune, a loss than would have sent Africa’s richest man Dangote packing straight to his village. 2. GOOGLE $5 billion I know this is not as bad as that of Facebook but it’s still bad. The European union slammed Google with a record $5 billion fine for abusing it’s Android OS and other unfair practices such as forcing phone makers to install Google Apps like Chrome, YouTube, etc and destroying competition. Google is however appealing the fine but from all indication, they might end up paying up thereby putting a $5 billion hole in their pockets. 3. TWITTER $5 billion Twitter began a massive clampdown on fake, suspicious and dormant accounts, deleting almost 70 million accounts and causing a drop of 1 million users following its action to delete fake and offensive accounts. This move caused the shares of Twitter to plunge by 20%, as a result $5bn (£3.8bn) has been wiped off the market value of Twitter. Donald Trump himself is not helping matters as he has been using Twitter to threaten other countries. 4. TESLA $2 billion The Thailand football team stuck inside a flooded cave generated a lot of attention all over the world and most people offered to help in one way or the other. Among them was the CEO of Tesla Elon Musk who offered to build a kid-sized submarine that could go straight into the cave and rescue the team. Little did he know his good gesture would end up so badly as he ended up insulting a British diver who helped rescue the boys a pedophile. That insult caused Tesla share to drop heavily causing the company $2 Billion. Share holders had to force Elon Musk to apologize and delete the insulting Tweets which he did. 5. Amazon $100 million Amazon organized its biggest sale event of the year The Amazon Prime Day, shortly after the website experienced glitches and downtime to the extent that it could not make a single sale for over 1 hour. Although the company eventually fixed the errors, the downtime caused Amazon to lose over $100 million according to Business Insider . SOURCE:https://techcapon.com/tech-giants-who-suffered-huge-losses-in-july-2018/ 2 Likes |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by MicheyJ1: 9:27pm On Jul 29, 2018 |
If what happened to Facebook had happened to Dangote na to close shop go do herdsmen 42 Likes 1 Share |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by Alphafeezay(m): 9:31pm On Jul 29, 2018 |
One day!!! A Nigerian brand will become a Tech company will global reach. I believe 38 Likes |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by TechCapon(m): 9:37pm On Jul 29, 2018 |
Alphafeezay:that's my prayer everyday. Initially I thought Andela could do it, but not really. 7 Likes 1 Share |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by MicheyJ1: 9:37pm On Jul 29, 2018 |
Alphafeezay:We don hear 19 Likes 1 Share |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by Jimmyonyi: 9:38pm On Jul 29, 2018 |
Facebook is loosing a real lot of money |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by TechCapon(m): 9:47pm On Jul 29, 2018 |
Jimmyonyi:very seriously. It's beginning to cause serious panic among investors |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by MrBONE2(m): 11:57pm On Jul 29, 2018 |
We Thank Great One of KiVuKLand that our Sacred Ancient HandBook is not affected Gyarbonka 6 Likes |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by TechCapon(m): 6:27am On Jul 30, 2018 |
MrBONE2:which one is our ancient handbook? |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by Samusu(m): 6:48am On Jul 30, 2018 |
Budgets of many countries 1 Like |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by GrammarNazi1(m): 7:10am On Jul 30, 2018 |
Jimmyonyi:...losing... 14 Likes 1 Share |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by Humblega(m): 7:12am On Jul 30, 2018 |
Mark lost heavily bcs of data breaches in cambridge analytical scandal. Just an action/event can make or mar person/firm Such is life!!! 13 Likes |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by stevenakp(m): 7:13am On Jul 30, 2018 |
TechCapon: I think Andela is Just 4 years old. With what Andela has achieved so far, I believe Andela can and will do it. 2 Likes 2 Shares |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by Neminc: 7:13am On Jul 30, 2018 |
TechCapon:What has Donald Trump's using Twitter to attack other countries got to do with Twitter's financial loses? 4 Likes |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by ahmedbanj(m): 7:14am On Jul 30, 2018 |
Those monies are 2 much biko! especially facebook. |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by PrymChois: 7:17am On Jul 30, 2018 |
Wow.. Sharing of fake info. No wonder drunk scripted it clearly 'every Nairaland is responsible for his/her post' |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by itiswellandwell: 7:17am On Jul 30, 2018 |
Chai! If this is true. I will say, Facebook rugged oooo. Cheap Samsung phones. Check my signature. |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by PrymChois: 7:17am On Jul 30, 2018 |
Wow.. Sharing of fake info. No wonder Seun scripted it clearly 'every Nairalander is responsible for his/her post' |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by perdollar(m): 7:22am On Jul 30, 2018 |
GrammarNazi1:it is actually loosing bc many fb addict r being freed |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by Mankosi: 7:23am On Jul 30, 2018 |
Facebook lost $120b but the owner is not worth up to $90b. This lie wasn't fabricated well. 1 Like |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by exporters101: 7:27am On Jul 30, 2018 |
Facebook No. 1 PM me to top up your AdSense earnings. NOT free! |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by lanre316: 7:28am On Jul 30, 2018 |
Alphafeezay: Those American entrepreneurs didn't just pray and believe, like Nigerians do. They worked at it. They demanded better governance from their leaders. They researched. They developed. 4 Likes |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by lanre316: 7:30am On Jul 30, 2018 |
Mankosi: No. It's not a lie. Facebook is much bigger than and worths much more than Mark Zuckerberg personal account. It's not just Mark's money there, but investors invested money in Facebook. 22 Likes 1 Share |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by Offpoint: 7:31am On Jul 30, 2018 |
MrBONE2:Mr bones! this is your prince... thanks the Great one I've found you. 4 Likes 1 Share |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by zzzzy: 7:31am On Jul 30, 2018 |
Mankosi:delete this immediately 14 Likes 2 Shares |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by zzzzy: 7:33am On Jul 30, 2018 |
PrymChois:what's fake here, all these are mainstream news 2 Likes |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by lanre316: 7:33am On Jul 30, 2018 |
Neminc: Trump attacked China, Iran and North Korea on twitter. Those nations could OR had blocked twitter among their citizens. 1 Like |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by Jethrolite(m): 7:36am On Jul 30, 2018 |
TechCapon:Mark's loss was in paper only and he will recover with time. Do not make it sound like it was a business loss by saying it will send Dangote to the village. 1 Like |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by TechCapon(m): 7:39am On Jul 30, 2018 |
zzzzy: zzzzy: lanre316:Guys don't waste your time replying posts from ignorant folks. 2 Likes 1 Share |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by Tuns20(m): 7:46am On Jul 30, 2018 |
MicheyJ1:I'm telling u..na to come they sell okrika for kantogowa market..��� 1 Like |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by Nobody: 7:54am On Jul 30, 2018 |
Mankosi: Nna u don't just wag yourself in the public like that. The op even reduced the amount. to $120b. Financial times reported $123b. 1 Like |
Re: Tech Giants Who Suffered Huge Losses In July 2018 by IAmNotYourMate: 8:02am On Jul 30, 2018 |
TechCapon: I'll like to know why you think Andela may not be able to. I think they are the only ones poised to do so. 1 Like |
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