5 ms·
It's a recession.
by koyanisqatsi 4y ago
It's a recession.
- mpweiher 4y agoWell, since 1 year ago, Apple stock is down 2.7% whereas Facebook is down 69%. I think there may be some FB-specific issues at play...
- tamaharbor 4y agoFirst it was MySpace, and now this.
- sn0w_crash 4y agoNice
- fred_is_fred 4y agoWhich is a great reason to not blow $15B on a shitty version of 2nd life.
- AustinDev 4y agoWell they blew more than 30B on share buy backs with an average price above $300/share. It makes the metaverse investment look trivial.
- MrMan 4y agoI have had arguments with a lot of buy side and MBA types who try to convince me that buybacks are good for the country and patriotic but I would prefer a dividend by god. buybacks to me are un-American especially those funded by debt.
- musicale 4y agoHow much would it cost to buy second life itself? Though I imagine they might not want to sell to FB.
- koyanisqatsi 4y agoI mean it's his money, right? He can do whatever he wants with it. Corporations are not democracies and it doesn't matter what market analysts think about how he should spend his own money and on what projects.
- mpweiher 4y agoAnd the market is free to consider this an unwise investment and tank the stock. ¯\_(ツ)_/¯ Also, since FB is a publicly traded company, it's not actually "his money". It's the shareholders' money (of which he is but one), and thus he has a fiduciary duty to act in the best interest of those shareholders. https://www.law.cornell.edu/wex/fiduciary_duty https://www.law.cornell.edu/wex/fiduciary_duty
- koyanisqatsi 4y agoHe has controlling shares so he is acting in the best interest of the shareholders which is mainly himself.
- Maursault 4y agoFor $15B Meta could have had their own Gerald R. Ford-class aircraft carrier. and still had enough left over in change to buy Lucasfilm.