According to NetBlocks cybersecurity watchdog, the outage cost $160 million to the global economy. COST (Cost of Shutdown Tool) uses specific indicators from the World Bank and ITU to estimate the damage caused by an internet outage. After a whistleblower uncovered that Facebook’s flagship products were offline, Mark Zuckerberg’s personal wealth fell by $160 million within a matter of hours. This puts Markdown in the list of top-notch world’,s richest people list.
Facebook is the second largest provider of online ads after Google lost around $545,000 of US advertising revenues per hour throughout the downtime according to estimates by an ad-measurement firm Standard Media Index. According to the site for business Fortune, It also estimated that it cost Facebook the founder Mark Zuckerberg an estimated $6bn (PS4.4bn) at one time when shares plunged.
A lot of people were disconnected from family and the people they connect with through the various social media platforms as small companies that make use of social media to interact with customers faced the prospect of taking a surprise cost to their finances.
Zuckerberg apologized to all those affected by the downtime.
“To every small and large business, family, and the individual who depends on us, I’m sorry,” Facebook Chief Technology Officer Mike Schroepfer tweeted, adding that it “may take some time to get to 100%.”
Monday evening, Facebook, Whatsapp, and Instagram were all down at the same time. Around the world, users have reported that they are unable to no longer use Facebook, Whatsapp, and Instagram via their devices. These apps are controlled by Facebook and have the same infrastructure for servers. The apps were unavailable from around 16:00 GMT to around 22:00 on Monday.
Downdetector, which monitors outages, reported 10.6 million reports of problems across the globe. But the amount of users affected is significantly higher. More than 3.5 billion users are using Facebook, Messenger, Instagram, and Whatsapp. Reuters could have a hard time confirming the problem affecting the services. However, the error message that appeared on Facebook’s site indicated a Domain Name System (DNS) error.
On Twitter, the official account for WhatsApp confirmed that the three social media websites have technical issues and are offline at present. We’ve embedded the tweet below.
Some other tech companies, including Twitter, Netflix poked fun at the social media giant’s dilemma – without delay responses from the affected apps.
In one of the most popular tweets and videos, the streaming video company Netflix tweeted a meme from its newest hit program “Squid Game” captioned “When Instagram & Facebook are down,” which showed the person who was tagged “Twitter” holding up a person who was on the brink of falling, labeled “everyone.”