A guest essay argues Meta is entering its "zombie era" following the first-ever decline in daily active users to 3.56 billion from 3.58 billion last quarter. The author draws parallels to AOL and Yahoo, claiming the social media giant's core business is weakening while CEO Mark Zuckerberg pursues expensive misadventures.

The financial picture reveals mounting pressure. Meta generated $200 billion in ad revenue last year, representing 20% of the global market, but has accumulated $59 billion in long-term debt by 2025's end—double the prior year. Zuckerberg poured $80 billion into the Metaverse from 2021-2026, then spent roughly $100 billion on an AI model that was abandoned, followed by $14 billion for a new team and plans for another $115 billion minimum.

Legal threats compound the challenges. Meta lost a bellwether lawsuit in March over claims its addictive design harmed teenagers, with over 100,000 similar cases awaiting resolution. The company has slashed AI safety staff while continuing to maximize ad loads, boosting revenue-per-user 27% in early 2026—though at the cost of further alienating users.