00:00 Social media users worldwide were left in the dark on Tuesday, i.e. on March 5, 2024,
00:09 as a massive outage hit Meta's platforms, including Facebook, Instagram and WhatsApp.
00:14 The disruption lasted several hours.
00:17 It not only left billions of users disconnected but also dealt a blow to Meta's financial
00:21 standing.
00:22 Around 10 a.m. Eastern Time, reports of issues flooded in, causing Meta's share price to
00:27 initially drop by 1.5%.
00:29 However, as the outage persisted, the share price further plummeted by 1.6%.
00:34 According to experts, this outage had a substantial financial impact on the company.
00:39 Users around the globe faced sudden logouts from Facebook, leading to widespread confusion
00:43 and frustration.
00:44 Instagram, threads and WhatsApp also experienced various issues, such as feed failures and
00:49 message-sending problems.
00:51 Andy Stone from Meta addressed concerns on social media platform X, reassuring users
00:56 that solutions were actively being pursued.
00:59 A statement was released, apologising for any inconvenience caused.
01:03 This isn't the first time Meta's platforms faced technical glitches, reminiscent of the
01:07 2021 outage, lasting seven hours.
01:10 However, this time, the company managed to resolve the issue within two hours.
01:14 An insider revealed that internal systems were down during an outage, with Meta's service
01:19 dashboard indicating major disruptions across multiple services.
01:23 The downtime had a significant financial impact on Meta's co-founder and CEO Mark Zuckerberg,
01:28 who reportedly lost around $100 million in income on Tuesday morning.
01:33 The outage raised concerns about the vulnerability of the tech giant's infrastructure and its
01:38 potential repercussions.
01:40 As the outage occurred just before the deadline for big tech companies to comply with the
01:44 European Union's New Digital Markets Act, speculation arises about Meta making changes
01:50 to adhere to the regulations.
01:52 Insiders suggest that coding errors related to these changes might have caused the widespread
01:56 disruption.
01:57 Meta is reportedly exploring modifications such as allowing users to separate their Facebook
02:02 and Instagram accounts to prevent combining personal data for targeted ads.
02:07 However, it remains unclear if the outage is directly linked to Meta's preparations
02:12 for the Digital Markets Act.
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