1. $Meta Platforms (FB.US)$Meta平台在一天内下跌了26%，引起了投资者的关注。但我意识到Meta不是唯一一家遭受重创的社交媒体股票。
The principal value of TIPS is adjusted based on the inflation rate, and the principal value changes based on the Consumer Price Index (the standard indicator that measures inflation). This means that if the inflation rate rises, the principal value of the bond will also rise, and vice versa. In addition, the interest on the bond is also adjusted based on the inflation rate. This ensures that investors can ensure that the value of their investments is not affected by inflation. $Roblox (RBLX.US)$ Roblox, a favourite among the school goers today, dropped 26% in a day too. Seems like 26% is a magic number. The reasons given were that it missed the revenue by $200万 and that the earnings have slowed down. Investors fear the allure of the platform has declined due to the reopening of the economy.
3. Of course, not all is doom and gloom. The overall results were still pretty good. Roblox's revenue increased 108% in 2021 and free cash flow was positive and increased to half a billion. This means that they no longer need to raise money as their operations are able to sustain the business on its own.
4. Similarly,   $Snap Inc (SNAP.US)$ Snap has reported positive free cash flow that is 3x the amount achieved in the last quarter. This is the first time they have a consecutive positive free cash flow quarters. Similar to Roblox, they are self-sustainable now. Snap has turned profitable in the latest quarter too.
5. Although Snap share price jumped 58% on this good news, it is still down 15% since the start of 2022. This is worse than the NASDAQ Composite (-13%).
6. Somehow the general sentiment towards social media stocks was bad, looking at the comparative performances:
NASDAQ -13%
Snap -15%
推特股价下跌17%
pinterest股价下跌32%
Meta平台股价下跌39%
roblox股价下跌45%
$Twitter(已退市) (TWTR.US)$ 推特和  $Pinterest (PINS.US)$ Pinterest的营业收入分别增长了37%和52%。推特仍然亏损并且自由现金流为负，但Pinterest则完全相反。即便如此，自2022年开始，Pinterest的股价下跌了32%。
总体而言，社交媒体平台表现出良好的增长，其中大多数公司都取得了重要里程碑：实现了正面自由现金流，部分公司实现了盈利。
所有这些都被忽略了。我认为有三个原因。首先，由于待定的较高利率，估值被重置 - 许多成长股应该会以较低的价格交易，因为它们的未来价值将会被更大比例地贴现到当天。
其次，社交媒体竞争的增加意味着每个人可以分得的饼更小。投资者预计增长速度放缓，并且损失会更大，因为他们会花更多的钱来竞争。
第三，随着隐私保护程度的提高（Android也在增加隐私选项），这一趋势将影响社交媒体平台，因为它们都依赖追踪来使广告更有效。
现在分析社交媒体平台变得更加困难了。它已经从垄断变成寡头垄断。根据波特五力模型，这一点单独就会使该行业变得不那么有吸引力。

他们说我们会得到我们应得的，我们最终会在哪里，在天堂悠闲还是试图闯入其中，深夜祈祷请求上帝原谅我们选择过的混乱生活，睡醒后枕头湿透，眼泪涌出，活着却饱受折磨，伸手触及天空。