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Yesterday, Facebook lost around $120 billion, and the internet cheered. That might sound like a nothing-burger like many of Facebook’s losses have been, but it wasn’t: It was nearly 20% of their total value (about as much as the entire worth of Mcdonald’s) and it disappeared in an afternoon, marking one of the biggest single-day collapses for a publicly traded company ever. After being marred by political, privacy, and even word-vomit scandals, Facebook’s invincibility finally fell away. And with their armor down, standing naked in front of the world, they finally learned the cost of all the problems they’ve caused.
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