A recent MorningConsult survey revealed that Gen Z between the ages 18-25 favors big tech companies like Amazon and Google while Facebook and Instagram do not hold much importance to them. This news has come as bad news for Meta's CEO Mark Zuckerberg as he has worked a lot on Meta to make it a big place for Gen Z. The main goal for Meta was to appeal to young people but this doesn't seem to work as those youngsters are more inclined towards Google, Amazon, etc.
This little survey did not only affect Mark Zuckerberg but also the employees working for Meta. The CEO of Meta has told his employees that a big hiring freeze is going to happen in the coming days, and there is also a big chance of decreasing salaries and budget cuts.
There are also some other brands like Band-aid, Twix, and Dollar Tree that youngsters love using instead of Instagram and Facebook. According to the rankings, Dollar Tree came in at 14 spots, Twix at 24, and Band-Aid at 28. In comparison to this, Instagram was ranked at 29 spots and Facebook didn't even make it to the top 40. YouTube was at the top, and then Google, Netflix, and Amazon followed. This shows that none of Meta's projects made it to higher ranks.
Meta is even working on a lot of things to make its apps better, it introduced a reel feature to Instagram. Billions of dollars were spent to achieve some goals. This is not the only challenge for Meta as it is competing with some of the big apps like TikTok. Now a report has shown that many reels on Instagram have no big engagements like they have on TikTok. Now all Meta can do is a big hiring freeze and cut back budgets because the big budgets aren't helping Meta in surpassing its competitors. Other tech companies like Google, Microsoft, and Uber are also going to cut their budgets after Meta's.
Read next: Survey Reveals That US Citizens Find Newer Entrepreneurs To Be More Influential Than Older Ones
This little survey did not only affect Mark Zuckerberg but also the employees working for Meta. The CEO of Meta has told his employees that a big hiring freeze is going to happen in the coming days, and there is also a big chance of decreasing salaries and budget cuts.
There are also some other brands like Band-aid, Twix, and Dollar Tree that youngsters love using instead of Instagram and Facebook. According to the rankings, Dollar Tree came in at 14 spots, Twix at 24, and Band-Aid at 28. In comparison to this, Instagram was ranked at 29 spots and Facebook didn't even make it to the top 40. YouTube was at the top, and then Google, Netflix, and Amazon followed. This shows that none of Meta's projects made it to higher ranks.
Meta is even working on a lot of things to make its apps better, it introduced a reel feature to Instagram. Billions of dollars were spent to achieve some goals. This is not the only challenge for Meta as it is competing with some of the big apps like TikTok. Now a report has shown that many reels on Instagram have no big engagements like they have on TikTok. Now all Meta can do is a big hiring freeze and cut back budgets because the big budgets aren't helping Meta in surpassing its competitors. Other tech companies like Google, Microsoft, and Uber are also going to cut their budgets after Meta's.
Read next: Survey Reveals That US Citizens Find Newer Entrepreneurs To Be More Influential Than Older Ones
