- Facebook is removing like counts from its social media platform and Instagram.
- The company claims that they are doing it for the sake of mental health advocacy.
- People can wager if Facebook stocks will drop due to this change.
MENLO PARK, Calif. – There is a chance for people to wager on if Facebook stocks will drop after removing "like" counts on their social media.
USA online sportsbooks are taking action on the impact of removing likes from Instagram and Facebook. They plan on removing the like counter from both of the two platforms.
As pictured, the shortest odds go to "yes", Facebook stocks will drop with -140. This is likely due to the fact that stock shareholders tend to act reactively to company changes. There are +100 odds for "no", Facebook stocks will not drop for removing like counts.
Back in July, Facebook started testing removing "like" counts from Instagram in certain countries. People can still like posts, but counts are hidden. Instagram’s Twitter account said that they want people to be focused on the pictures and videos shared.
We want your friends to focus on the photos and videos you share, not how many likes they get. You can still see your own likes by tapping on the list of people who've liked it, but your friends will not be able to see how many likes your post has received.
— Instagram (@instagram) July 17, 2019
This is largely due to the fact that Instagram is considered to be a toxic social media. Instagram affects the mental health of many of its users due to the like system. As the owners, Facebook is looking to get rid of that problem. It’s not just for Instagram. Facebook itself has also begun tests to hide likes as well.
It is unclear whether or not removing like counts will improve the mental health of social media users. It is not even clear if Facebook is being honest about the reason to remove the like systems. News platforms like Esquire suspects that Facebook is removing likes for profits.
Social media influencers get a large amount of cash for sponsorship deals. With these deals, Facebook and Instagram do not get a cut of the profits. Without likes, if sponsors want to partner with an influencer, they will have to go through Facebook first. This means that Facebook will finally get a cut of the influencer’s profits.
It is not entirely certain when like counts from these social media platforms are going to disappear. Regardless, bets are being placed on if Facebook stocks will drop or not for when it happens.