My crown is called content, a crown it is that seldom kings enjoy - William Shakespeare
$492 Billion.
Thats the current valuation of Facebook. Thats over 850 times more than the current market cap of Steem.
My argument is that this moment represents the point where the fortunes of these two social media platforms are going to diverge. That means Facebook is going to lose value, while Steem will inexorably rise.
Facebook's market cap has dropped over $60 billion in the last two weeks, mainly due to the revelations that political campaigns were able to siphon off the information of tens of millions of Americans over the last decade.
Back in 2015, I was one of the first to start openly talking about the demise of Facebook, although I was clearly ahead of my time. This has happened before, my lead time on my predictions for death seem to be 3-4 years, as we found out with the crash in volatility ETF's
The negative news flow has increased markedly in just the past 48 hours:
Users Abandon Facebook After Cambridge Analytica Findings
Facebook Draws Scrutiny From FTC, Congressional Committees
Mozilla Presses Pause on Facebook Advertising
Facebook warned 'enough is enough' by advertisers
Which prompted a response from Zuck himself
The market cap of Steem has also declined markedly in the past few weeks, although in my opinion not on the fortunes of Facebook, but due to the overall crash in cryptocurrency prices everywhere. To me, this represents a historic opportunity to catch the exact inflection point where a behemoth crumbles and a new social media king is crowned.
