Get Woke, Go Broke, YouTube Edition
Alphabet, Google’s parent company, took a tumble on the stock market, falling 8% in a single plunge earlier this week. Fingers are pointing at YouTube. Says Alphabet/Google CFO Ruth Porat:
“While YouTube clicks continue to grow at a substantial pace in the first quarter, the rate of YouTube click growth rate decelerated versus a strong Q1 last year, reflecting changes that we made in early 2018, which we believe are overall additive to the user and advertiser experience.”
What kind of changes are “additive” to user experience yet vaporize $70 billion in market cap? CNBC explains:
In January of 2018, Google announced changes to YouTube’s algorithms designed to stop “borderline content and content that could misinform users in harmful ways” from appearing in the feed of recommended videos you see on the side of a video page. …
On top of that, YouTube has removed millions of channels and videos that violated the company’s harmful content policies, most notably Alex Jones.
In other words, the market punished Google for playing thought police, telling us what we should and shouldn’t watch instead of providing a neutral platform. The saying holds: get woke, go broke.
On a tip from StephaneDumas.
The post Get Woke, Go Broke, YouTube Edition appeared first on Moonbattery.
Source: https://moonbattery.com/get-woke-go-broke-youtube-edition/
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