Well, that was a rough week on Wall Street. YouTube advertising sales shrank for the first time, which is a big reason Alphabet lost almost $200 billion in market value. Meta’s revenue fell and Mark Zuckerberg’s net worth has dropped by about $87 billion this year.
It’s not just social media. Sales at Amazon disappointed as well. The tech sector, responsible for a lot of the growth in the stock market and the global economy over the last decade, is slowing down. Is this a temporary reset after pandemic-fueled growth, or is this a sign of more to come? Let me know what you think.