Facebook Inc , the world’s largest social networking site with more than 1.5 billion users, will become the world’s biggest virtual graveyard by the end of this century, claim experts. A statistician noted that there will be more profiles of dead people on Facebook than living users before the century comes to an end.
A virtual Facebook graveyard
Facebook has refused to automatically delete the profiles of dead users, and the membership of the site is plateauing, indicating that a time will come when the dead will outnumber the living. It is said that by 2098, Facebook will turn into world’s biggest virtual graveyard.
The person making this claim is Hachem Sadikki, a PhD candidate in statistics at the University of Massachusetts. For arriving at this figure, Sadikki assumed that soon Facebook’s growth will begin to slow down. He also assumed that Facebook will stick to its existing policy of handling dead users.
Currently, what Facebook Inc does upon the death of a user is to turn the account into a ‘memorialized’ version of the page rather than deleting it. The only way to delete the account is if anyone knows the username and password, then one may login and close it down.
However, since very few people share their account credentials with others, it is very likely that the page will stay up long after their death. About 970,000 Facebook users will die this year alone across the world, claims the Digital Beyond – an online legacy planning firm.
Facebook stock creates history
Facebook Inc has created history as for the first time, it has acquired position among the top 20 most widely held stock by the institutional equity investors. Data from eVestment (via CNBC) reveals that Facebook surged in rankings to acquire the 16th spot. This suggests that the number of funds owning Facebook shares are more than those holding household names such as Pepsi and Citigroup.
Facebook’s popularity among the investors has risen owing to its robust performance, which helped it to improve its rankings from 35th at the end of 2014 and 23rd at the end of September. Alphabet, Apple and Microsoft are still at the top of the list, and for past seven consecutive quarters they have consistently been the top three most widely held stocks.
eVestment, who tracks more than 65,000 institutional portfolios, has shared the names of the biggest winners and losers. McDonald’s, Amazon and Synchrony Financial are the biggest winners among the U.S. large-cap growth equities while Chipotle and Valeant were two of the biggest losers.
On Friday, Facebook shares closed down 1.09% at $108.39. Year to date, the stock is up over 3% while in the last one-year, it is up over 35%.