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Compare to Apple who has been crazy profitable but who opted to pile up a cash hoard. Meta and Google and some others saw every spare billion as an opportunity
by tootie 4y ago
Compare to Apple who has been crazy profitable but who opted to pile up a cash hoard. Meta and Google and some others saw every spare billion as an opportunity to hire another moonshot team to build AI/VR robot cars. All that stuff was funded by their main businesses. Now they are basically giving up. Stick to their core businesses and just keep the cash.
- vineyardmike 4y agoTo be fair, apple is famous for having poured money into AR and robot cars lately. “Project Titan” was a cash burning machine, and we’ve been expecting their rumored AR goggles any day now. Apple may have had more discipline with hiring, but they definitely fund R&D ventures - especially the “moonshots” you mention. They seem to have avoided any crypto teams, and any space-tech teams, but they also seemed under invested in AI.
- jsnell 4y agoMeta wasn't just pouring money into moonshots. They returned $45 billion to shareholders in 2021 and $28 billion in 2022, via stock buybacks.