Although the social media landscape is ripe with competition, platforms such as Pinterest, Twitter, and Snap's Snapchat do not seem to be generating similar growth to either Facebook's family of apps or TikTok. The parent company of Facebook and Instagram saw 26% of its market capitalization wiped out in a single day, the largest one-day drop in history, following the earnings announcement. Meta is staring down a number of macroeconomic issues such as supply chain disruptions and inflation, which could impact advertising budgets, pressuring the social media giant's core revenue stream.