Facebook's total user base declines for the first time in 17 years: Report

Facebook has seen a number of controversies in recent years. According to quarterly report released by Meta, Facebook lost about half a million global daily users in the fourth quarter of 2021 as compared to previous quarter. Meta’s quarterly report on Wednesday also posted sharply higher costs but gave a weak revenue forecast, spooking the investors and knocking off almost $200 billion off the valuation of the company. Meta invested more than $10 billion in its Reality Labs segment - which includes its virtual reality headsets and augmented reality technology - in 2021, contributing to the quarter's profit decline. He expects people to start seeing Meta as a “metaverse company” in the coming years, rather than a social media company.