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.
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.
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
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.
Meta announces another 10,000 job cuts, great news
Not if you’re one of the 10,000
Nearly at $200 can’t wait for Quest 3
One of my best plays to date. I wish BABA has similar moves once inflation goes down and confidence in china increases again. BABA and PYPL are my next META plays. Lol.
And they announced quarterly dividend of $0.5 per share
Good times all round. Gotta love the tech stocks
A year ago trading at $100
Bravo to any that got in at that level
I am really happy with the results; it’s now my biggest position.