8 ms·

Facebook owner Meta sales continue to fall

Moissanite 4y ago
With Google and Meta both trending down, a hopeful person might be looking forward to the end of parasitic digital advertising and the negative externalities it has drowned us in for the last 20 years. Alas, I've learned not to hope quite so boldly as that.
- Ancalagon 4y ago
  Maybe the annoying leetcode interviews will end too when everyone stops trying to copy the (once) rich kid on the block.
  - mountainriver 4y ago
    Lol I love when people try to justify Leetcode when in reality it’s just something Google did
  - 1letterunixname 4y ago
    Haha. They don't use Leetcode for actual interviews. And they got rid of Bluejeans too. It's mostly Zoom and Coderpad. I suspect they'll downsize by about 25% since they were on an exponential/hockey stick hiring binge over the past 6 years. Metric tons of nontechnical hires without much to do. What I think they need to do is: 0. Triple-down on AI. They're committed to spending $50B on hardware over they next 2 years to do it, mostly within Reality Labs. The technological singularity will happen only and after systems plus AI are given enough interfaces to operate, configure, and design themselves. 1. Expand boring-but-profitable enterprise software like Workplace. They need desktop apps and deeper integrations with the major OS vendors' stacks. 2. Incubate the crap (incl. throw bits of money for convertible notes) at all kinds of tiny startups and have startup events, both external (students and startup people) and internal from staff, with a welcoming hackathon-like environment. The next big thing will happen somewhere else and the world will move on otherwise. As Apple gave away computers to schools, Meta should be at the door of every high school trying to get students to code and launch startups.
- stjohnswarts 4y ago
  Isn't everyone trending down right now? I wouldn't read too much into it. Apple really put some hurt on Facebook ads, though. I think 90% of this is the fallout from that. Well, that and gen Z simply refuses to use anything but TikTok and Instagram. To them, Facebook may as well be as irrelevant as a model T.
  - pengaru 4y ago
    > Well, that and gen Z simply refuses to use anything but TikTok and Instagram. But Meta owns Instagram...
    - 1letterunixname 4y ago
      And Oculus. John Carmack. Now with hand tracking and feet! :) I think this is the emotional sentiment media manipulation of the market poo-pooing the MAANGs helping investors buy them at a discount. And whipping "The Man" megacorps during a recession as convenient outlets of frustration. Alphabet/Google will always be around. Meta has so much money, it can turn itself into an Amazon in terms of entering other categories. It will probably take 5-6 years but watch the same naysayers when Meta has some crazy awesome AI AR that's better than the chunky RayBan's.
    - stjohnswarts 4y ago
      Still holds true for instagram, ad revenues will be down as a matter of apple limiting info, basically nothing has changed between since this article came out, there are others if you care to google for them https://www.businessinsider.com/facebook-blames-apple-10-billion-loss-ad-privacy-warning-2022-2?op=1 https://www.businessinsider.com/facebook-blames-apple-10-bil...
- ls15 4y ago
  Intuitively, I would say that we have passed peak online surveillance dystopia. People have kind of woken up to the topic, but of course are still not really protecting themselves and the monopolies have not been broken up yet. However, looking at the things that Facebook did when thing went well for them, makes me worry about the thing that Meta will do when things don't go well for them. Their share price just tanked to the level of 2015.

With Google and Meta both trending down, a hopeful person might be looking forward to the end of parasitic digital advertising and the negative externalities it has drowned us in for the last 20 years. Alas, I've learned not to hope quite so boldly as that.

Ancalagon 4y ago
Maybe the annoying leetcode interviews will end too when everyone stops trying to copy the (once) rich kid on the block.
- mountainriver 4y ago
  Lol I love when people try to justify Leetcode when in reality it’s just something Google did
- 1letterunixname 4y ago
  Haha. They don't use Leetcode for actual interviews. And they got rid of Bluejeans too. It's mostly Zoom and Coderpad. I suspect they'll downsize by about 25% since they were on an exponential/hockey stick hiring binge over the past 6 years. Metric tons of nontechnical hires without much to do. What I think they need to do is: 0. Triple-down on AI. They're committed to spending $50B on hardware over they next 2 years to do it, mostly within Reality Labs. The technological singularity will happen only and after systems plus AI are given enough interfaces to operate, configure, and design themselves. 1. Expand boring-but-profitable enterprise software like Workplace. They need desktop apps and deeper integrations with the major OS vendors' stacks. 2. Incubate the crap (incl. throw bits of money for convertible notes) at all kinds of tiny startups and have startup events, both external (students and startup people) and internal from staff, with a welcoming hackathon-like environment. The next big thing will happen somewhere else and the world will move on otherwise. As Apple gave away computers to schools, Meta should be at the door of every high school trying to get students to code and launch startups.
stjohnswarts 4y ago
Isn't everyone trending down right now? I wouldn't read too much into it. Apple really put some hurt on Facebook ads, though. I think 90% of this is the fallout from that. Well, that and gen Z simply refuses to use anything but TikTok and Instagram. To them, Facebook may as well be as irrelevant as a model T.
- pengaru 4y ago
  > Well, that and gen Z simply refuses to use anything but TikTok and Instagram. But Meta owns Instagram...
  - 1letterunixname 4y ago
    And Oculus. John Carmack. Now with hand tracking and feet! :) I think this is the emotional sentiment media manipulation of the market poo-pooing the MAANGs helping investors buy them at a discount. And whipping "The Man" megacorps during a recession as convenient outlets of frustration. Alphabet/Google will always be around. Meta has so much money, it can turn itself into an Amazon in terms of entering other categories. It will probably take 5-6 years but watch the same naysayers when Meta has some crazy awesome AI AR that's better than the chunky RayBan's.
  - stjohnswarts 4y ago
    Still holds true for instagram, ad revenues will be down as a matter of apple limiting info, basically nothing has changed between since this article came out, there are others if you care to google for them https://www.businessinsider.com/facebook-blames-apple-10-billion-loss-ad-privacy-warning-2022-2?op=1 https://www.businessinsider.com/facebook-blames-apple-10-bil...
ls15 4y ago
Intuitively, I would say that we have passed peak online surveillance dystopia. People have kind of woken up to the topic, but of course are still not really protecting themselves and the monopolies have not been broken up yet. However, looking at the things that Facebook did when thing went well for them, makes me worry about the thing that Meta will do when things don't go well for them. Their share price just tanked to the level of 2015.