Wiser! #68 (Premium): When your business is dependent on the actions of someone else, it's your Achille's Heel. It's a $500 billion weakness that Mark Zuckerberg saw coming when Apple announced a simple change for iPhone users. And sparked one of the biggest pivots in corporate history.
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Apple's privacy changes will cost Facebook $10 billion in 2022
BackStory: When Mark Zuckerberg addressed investors on the latest earnings call, he delivered a sombre business projection. Facebook stands to lose $10 billion this year. The market expected bad news, but not this.
How could this be? The world’s largest social network was built on a business model that delivered 30% topline growth and 3/4s of a billion dollars a day in profit last year. And yet in one, seemingly simple policy change by Apple, the legs have been taken out from under Facebook. It’s a tackle we’ve not seen the likes of since “chopper” Harris played for Chelsea.