Things happen based on rates of change now, not just totals. 2021 was an abnormally high jump in revenue from 2020 for Meta. 2022 was a drop in revenue, but ro

Things happen based on rates of change now, not just totals. 2021 was an abnormally high jump in revenue from 2020 for Meta. 2022 was a drop in revenue, but roughly a return to trend (there's a quite linear line from 2016 to 2022 revenue-wise). It looks like they hired based on a wrong guess about Covid revenue growth acceleration being a longer-lasting thing than it was, and now that their revenue growth path is back to their old trend, they can't justify all of that.