Last month Facebook has turned 16 years old. The company – and its founders – have gone a long way from their college-room office to become one of the world’s most valuable corporations.
“Failure must be an option”– Rafael Camargo, VP of Facebook
However, as the company matures, it is now facing a completely new set of challenges, such as declining revenue streams, maintaining goodwill and brand reputation, and reaching saturation in the market.
Last quarter of 2019 has seen weakest growth in the seven years since the company went public. On the news of slowed growth, some of its investors curbed their investment, and as a result, Facebook shares plunged 7%.
Facebook’s market has changed drastically over the years, with its target audiences now migrating to new apps and platforms, such as Tik Tok, Cheez, Dubsmash, and more.
Watch Rafael Camargo, VP of Facebook’s AR/VR team, talk about taking risks, managing uncertainty, and how “Failure has to be an option” Click here to Video
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