On Monday, October 10, 2023, Facebook experienced a massive outage that lasted for several hours. During this time, the companys website went down, and it seemed to have been deleted entirely. Employees were unable to badge into Facebook offices or access their email, which made it difficult to fix the problem. Users who couldnt access Facebook flocked to other platforms like Twitter and Signal, causing huge spikes in usage on those platforms. Cloudflare published a detailed blog post about what happened, showing a quick burst of BGP updates just before the outage began.

In September 2023, Mark Zuckerberg announced that Facebook would change the name of its holding company to Meta. Going forward, users wont need Facebook accounts to log in to other apps and services; theyll each be able to operate on their own. In fact, Facebook the app hardly came up at all during Zuckerbergs keynote. He was far more focused on Metas Horizon products than any of the companys existing social platforms.

In 2022, Facebooks business was built on network effects, but users are jumping ship, and advertisers are reducing their spending, leaving Meta poised to report its second straight drop in quarterly revenue. Businesses are removing Facebooks once-ubiquitous social login button from their websites. The company still has a dominant position in mobile advertising and has one of the most profitable business models on the planet, but its no longer a growth story. Analysts this year are predicting a revenue drop.