Mark Gongloff, Columnist

You Know What's Not Cool? Facebook

The social-media giant loses hundreds of billions in value as users leave for TikTok.

February 3, 2022 at 10:18 PM UTC

Mark Gongloff is a Bloomberg Opinion editor and columnist covering climate change. He previously worked for Fortune.com, the Huffington Post and the Wall Street Journal.

That feeling when your company loses $230 billion in valuation.
Photographer: Chip Somodevilla/Getty Images North America

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America’s Strategic Schadenfreude Reserve was replenished today as Meta lost $230 billion in market value, or 1.3 Bezoses, on signs its grip on our psyches is loosening just the tiniest bit — even if the new iron fist belongs to TikTok.