This Is Mark Zuckerberg’s Greatest Threat — And He’ll Never Win Against It

This segment of What’s Ahead makes the point that free markets, where competition is unimpeded, are far more effective regulators than government antitrust bureaucrats. A prime example is what’s happening to a once seemingly untouchable giant.

The ignominious collapse in the stock price of Meta Platforms, owner of WhatsApp, Instagram and—most famously—Facebook, reflects serious operating challenges. Advertising is down. Traffic is suffering from competitors like TikTok. And, so far, CEO Mark Zuckerberg’s multibillion bet on the metaverse has been a flop. Thousands of employees are being laid off.

While Zuckerberg’s belief in the fabulous future of the metaverse may well be accurate, that doesn’t mean his company will be the big beneficiary. Countless other entrepreneurs are competing.