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Facebook loses $120 billion in market cap after awful Q2 earnings

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Facebook’s    share price fell over 20 percent in after-hours trading yesterday after the company announced its slowest-ever user growth rate and a scary warning that its revenue growth would rapidly decelerate. Before today’s brutal Q2 earnings, Facebook’s share price closed today at $217.50 – a record high — but fell to around $172 after the earnings call. That’s a market cap drop of roughly $123 billion. In two hours, Facebook lost more value than most startups and even public companies are ever worth. So why did Facebook’s share price sink like a stone? There are five big reasons: Slowest-Ever User Growth Rate  – Facebook’s monthly user count grew just 1.54, compared to 3.14 last quarter. Daily active users grew even slower at 1.44 percent, compared to 3.42 percent last quarter. For reference, 2.18 percent was its previous slowest DAU growth rate back in Q4 2017. Suddenly hitting this wall could limit Facebook’s total user count over the long-run, and its re...
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Meet Sarah Ayanwale - @SingingCodes

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Coder. Singer. Scribe. A graduate of Pure and Applied Chemistry who has spent several years in the field, but a few years ago a serendipitous event inspired me to get into Software Engineering, and I love it! I’ve worked internationally, in-house and remotely on projects for leading brands, agencies, startups and charities. Backend and problem solving are central to everything I do. I care deeply about creating world-class, useful and beautiful products that help people and make a difference. I like to be involved at different stages of a tech project, from the seed of the idea, through to sketches, design and even the back-end build. I freelance, this means I can jump in at any stage of a project, or take on the whole project, from design to build. I love meeting new people and learning new things, so please feel free to say hello and share a story with me. I am thrilled, and truly blessed to be a part of the crazy ones, the misfits, the rebels, the troublemakers, the...
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