Monday’s Facebook outage brought the digital world to a seeming halt. Not just the Facebook app but Facebook-owned Instagram and WhatsApp also remained inaccessible to users. Twitter was flooded with memes that suggested the platform was experiencing heavy traffic from the regular users of the three affected services. Many users joked about their realization that life was much more peaceful without these services. However, this outage meant serious business loss disruption for the top brass of Facebook. Mark Zuckerberg said in a Facebook post, “Sorry for the disruption today — I know how much you rely on our services to stay connected with the people you care about.” Facebook has likely suffered losses in millions due to the absence of ad clicks during the six-hour outage.
However, it is not just Facebook that suffered revenue losses, but Mark Zuckerberg is also reported to have lost around $6 billion of his personal wealth. The Facebook CEO’s personal wealth fell by over $6 billion in a few hours after the Facebook outage bringing him down a notch on the list of the world’s richest people. Notably, the global outage came shortly after a Facebook whistleblower, Frances Haugen, revealed her identity on the CBS 60 Minutes. Haugen provided a series of internal Facebook documents to the Wall Street Journal. The documents suggested that the company turned a blind eye to the problems with its products. Frances stated that there were conflicts of interest between what was good for Facebook and what was good for the public and that the social media giant chose to prioritise its own interests.
In its statement after resolving the outage, Facebook said the operations were disrupted by configuration changes on backbone routers. However, many observers speculated that the outage was associated with the reveal of Haugen on ‘60 Minutes.’ This is believed to have contributed to a selloff of the social media giant’s shares that caused the share prices to plummet by 4.9%, on Monday.