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I hope the stock gets destroyed next earnings when people realize they've been spending all this money on AI all to not ship a single meaningful feature nor der

by asdev 2y ago

I hope the stock gets destroyed next earnings when people realize they've been spending all this money on AI all to not ship a single meaningful feature nor derive any revenue leveraging it. They did the exact same thing with the whole "Metaverse" thing

AlexandrB 2y ago
The metaverse craze was hilarious. I heard of a large retailer that paid ~$0.5 million to hold their annual all-hands in a metaverse "venue". The whole thing collapsed under the weight of a few hundred attendees and they had to revert to a zoom call.
- zeusk 2y ago
  Meanwhile zoom runs perfectly fine on vision pro. imo, Meta should ditch metaverse and focus on gaming/media/productivity for the headset and leave the social aspects to their rayban-kind devices.
werdnapk 2y ago
Yet, there stock is up over 70-80% last year and I have no idea what they really have to show for it.
- magnio 2y ago
  Their revenue and net income are up 20% and 70% yoy. Apparently we can still sell more ads than what I thought is possible.
  - nradov 2y ago
    It's not necessarily more ads but rather more effective ads. Meta is among the best ad platforms for targeting. Customers pay a premium for this.
    - lostlogin 2y ago
      Sadly, the cancer is still growing.
    - herbst 2y ago
      They also accept every single scam scheme and I am sure these scammers have deep and money pockets after all these successful Facebook campaigns
- sethops1 2y ago
  I honestly wonder if Meta is just cooking the books now. Who are these advertisers ramping up ad spend on that site? And why?
  - herbst 2y ago
    Every time I visit Instagram a slightly different 'Elon Musk invested in ...' or 'Shark Tank approved investment ...' bullshit is within the first 3 posts. This has been line this for at least a few years. I heavily assume Facebook is getting richer from enabling scam
deadbabe 2y ago
Why stop at meta? What has any AI company done that creates substantial new profits?
Hilift 2y ago
META is a cash machine.
- asdev 2y ago
  an ad machine*
deleted 2y ago
[deleted]
jvwww 2y ago
None of that matters frankly. They make an exorbitant amount of money from ads and that is only growing.
int_19h 2y ago
I hope not; I'd rather see them keep working on LLaMA (so long as the models remain public).

by asdev 2y ago

AlexandrB 2y ago

The metaverse craze was hilarious. I heard of a large retailer that paid ~$0.5 million to hold their annual all-hands in a metaverse "venue". The whole thing collapsed under the weight of a few hundred attendees and they had to revert to a zoom call.

zeusk 2y ago
Meanwhile zoom runs perfectly fine on vision pro. imo, Meta should ditch metaverse and focus on gaming/media/productivity for the headset and leave the social aspects to their rayban-kind devices.

werdnapk 2y ago

Yet, there stock is up over 70-80% last year and I have no idea what they really have to show for it.

magnio 2y ago
Their revenue and net income are up 20% and 70% yoy. Apparently we can still sell more ads than what I thought is possible.
- nradov 2y ago
  It's not necessarily more ads but rather more effective ads. Meta is among the best ad platforms for targeting. Customers pay a premium for this.
  - lostlogin 2y ago
    Sadly, the cancer is still growing.
  - herbst 2y ago
    They also accept every single scam scheme and I am sure these scammers have deep and money pockets after all these successful Facebook campaigns
sethops1 2y ago
I honestly wonder if Meta is just cooking the books now. Who are these advertisers ramping up ad spend on that site? And why?
- herbst 2y ago
  Every time I visit Instagram a slightly different 'Elon Musk invested in ...' or 'Shark Tank approved investment ...' bullshit is within the first 3 posts. This has been line this for at least a few years. I heavily assume Facebook is getting richer from enabling scam

deadbabe 2y ago

Why stop at meta? What has any AI company done that creates substantial new profits?

Hilift 2y ago

META is a cash machine.

asdev 2y ago
an ad machine*

deleted 2y ago

[deleted]

jvwww 2y ago

None of that matters frankly. They make an exorbitant amount of money from ads and that is only growing.

int_19h 2y ago

I hope not; I'd rather see them keep working on LLaMA (so long as the models remain public).