Apple's privacy changes have cost big tech over $300 billion so far

Apple privacy changes in 2021 have cost Meta Platforms, Snap Inc., Twitter, and Pinterest a combined $315 billion in market value.

Published Feb 4, 2022 5:03 AM CST   |   Updated Wed, Jul 27 2022 3:55 AM CDT
0 minutes & 46 seconds read time

The losses come following Apple's privacy changes that went into effect in April 2021.

Apple's privacy changes have cost big tech over $300 billion so far 01

The changes Apple made to iOS made it so that users must opt-in to allow ad-tracking by social media applications instead of an opt-out from it being enabled by default. Rather than an opt-out option being relegated to deep in the settings menu, a pop-up now appears before opening an app that uses advertising and data collection.

"Like others in our industry, we faced headwinds as a result of Apple iOS changes. Apple created two challenges for advertisers: one is that the accuracy of our ads targeting decreased, which increased the cost of driving outcomes; the other is that measuring those outcomes became more difficult," Meta Platform chief operating officer Sheryl Sandberg said in its earnings call.

Meta Platforms CFO David Wehner estimates that the privacy changes cost the company $10 billion in revenue. When comparing market values from April 26th, 2021 to the present, Meta Platforms has lost $205 billion, Snap has lost $51 billion, Twitter has lost $26 billion, and Pinterest has lost $33 billion, for a combined $315 billion in market value losses.

Adam grew up watching his dad play Turok 2 and Age of Empires on a PC in his computer room, and learned a love for video games through him. Adam was always working with computers, which helped build his natural affinity for working with them, leading to him building his own at 14, after taking apart and tinkering with other old computers and tech lying around. Adam has always been very interested in STEM subjects, and is always trying to learn more about the world and the way it works.

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