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Yeah, but on the other hand he’s Nick Clegg.

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I’m so naive, I brought in 100% and still have difficulty believing that the post-election Nick is the same guy as before.

Working for Meta and selling his soul for a giant paycheck, however, shows how wrong I was.

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I kind of agree. I was never a Clegg fan, but I can’t imagine he needs the money and this feels like it should be an actual serious crime?!

I guess its not though. FB can ultimately decide what does and doesn’t appear on their platform :disappointed:

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With a bad week for big tech, one could assume the market had felt today’s figures were lriced in with a -5.5% write-down. Wrong, premarket trading is down nearly 20%, and the metaverse bet is what the market likes the least. Bold moves are often met with skepticism but how long can Zuckerberg hold the virtual line here?

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I hate after hours trading

How are you supposed to sleep when this is what you are going to wake up to?

Back to 2014 levels by the looks of it. How much further will it go !

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This was a fantastic breakdown. The All in guys can be a bit much but their knowledge in this field, especially Chamath, is incredible

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Up 5% today after announcing layoffs.

Hopefully they’re sacking most of the useless metaverse team. The metaverse has no use case which isn’t already better served by Fortnite (or Club Penguin, or Second Life). But I doubt it.

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Can’t see them abandoning the Metaverse project. Its Zuckerberg’s dream

Is someone going to tell him?

They have no choice but to pivot their business to something else. Google and Apple are removing the capabilities of Meta to acquire user data (through cookies, location, etc.) using the privacy argument. This will lead Meta to lose some of the advantage they currently have on the advertisement (and not only) space.

Devices are the next thing, because they will keep the control. They have tried Portal, which was not a big success, and now the metaverse and the adjacent Quest devices.

If they don’t pivot, they will lose a big portion of their value anyway, its a matter of time.

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I think Facebook is overstating the impact and blaming Apple’s privacy moves to deflect from their own product weakness.

I think Meta would do better focusing on products people actually use. Cloning Tiktok is worthwhile because Tiktok’s Chinese ownership places it in a precarious position (whether or not that’s justified is another story). Monetising WhatsApp should be a priority, it’s the only Meta product I use regularly. Maybe introduce WhatsApp payments into more countries.

If Meta really wants to be a metaverse company, just acquire Unity.

Buying unity would be a terrible choice

Mostly for users of Unity

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Meta buys technology for better VR headsets.

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Up 20%+ today after earnings. Costs down. Share buyback announced.

Obviously they could cut costs further without the metaverse nonsense.

I probably went on Facebook a bit more than usual during Christmas/New Year to see what old friends/family were up to. It’s basically Friends Reunited now, with lots of scam ads. Whatsapp chat groups have basically taken over for keeping up with people I actually care about. And despite having owned that for years, it makes Meta no money.