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Meta Reports Fourth Quarter and Full Year 2024 Results
- aresant 2y agoMaterial news for observers of AI infrastructure spend given the DeepSeek market torpedo this week: CapEx Full-Year 2024: $39.23B Expected to increase to $60B-$65B in 2025, largely to support AI efforts. NVDA bumped after hours on this news about 1.6% at the moment after a down day
- rossdavidh 2y agoNVDA looks down to me, in after hours, must have been a transitory bump.
- coro_1 2y agoTransitory to mid-late twenties then by 7pm/early evening it was low one-twenties. Someone said something on a call or the major holders got out for some other reason.
- bloomingkales 2y agoUntil I can run frontier models locally on modest hardware, the hardware race will continue. It’s kind of like when 3d graphics came out. We all kind of knew ‘the graphics are good, but not there yet’. Eventually it does get to Crysis level graphics, and we all take a breather. But then it starts up again with Unreal 5 engine. We will get to photorealistic even if takes a 1000 years. Same goes for AGI.
- sghiassy 2y agoI think that’s already been achieved https://youtu.be/o1sN1lB76EA?si=4nMZryeOeoVrZewW https://youtu.be/o1sN1lB76EA?si=4nMZryeOeoVrZewW
- leptons 2y agoAGI is a very different level of problem to solve than ray tracing. Photorealism is basically a straight shot, the algorithms for light are well understood, we just haven't had the hardware to do it in realtime, but the hardware was relatively easy to iterate on. AGI is not the same. No, LLMs are not going to turn into an "Artificial General Intelligence" just because we keep improving them - LLMs inherently don't have the capability of thought, interest, reason, motivation, or anything we ascribe to human intelligence. And throwing faster hardware at the problem isn't going to solve that. Sure, people are going to keep trying but I doubt anyone alive today will be seeing a true artificial general intelligence. In 1000 years? That's quite the goalpost.
- HDThoreaun 2y agoWe largely do understand how to replicate the brain though. Obviously not exactly but the brain is malleable so thats fine. The problem has been that we dont have the hardware to multiply matrices fast enough. LLMs are still orders of magnitude smaller than a human brain. Same problem ray tracing has.
- leptons 2y agoSorry but no, "multiply matrices" is not the fundamental problem blocking us from "Artificial General Intelligence", unless you believe in some alternate-facts description of AGI, as Sam Altman recently tried to foist upon the world by describing "AGI" as something capable of making money. That isn't the real definition of "AGI", that's a guy puffing up his company to try to get more money. https://en.wikipedia.org/wiki/Artificial_general_intelligence https://en.wikipedia.org/wiki/Artificial_general_intelligenc... A truly intelligent machine would need the capability to reason, understand, and think, exhibiting cognition, sentience, and consciousness - not merely sift through training data for a plausible response to an input. That isn't intelligence, that's a fancy search engine. LLMs and the entire premise behind them is incapable of producing AGI. They might seem like "AI", but they are nothing at all like AGI.
- HDThoreaun 2y ago
- wslh 2y agoSeems like a nice optimization problem when you are at these CapEx scales.
- deleted 2y ago[deleted]
- jedberg 2y agoStock market seems to be "meh" about it. It popped on the announcement but after hours is pretty much back down to the close now.
- kranke155 2y agoMeta seems like a zombie company, no. They have one product, WhatsApp, thats isnt monetized or at least isn't monetized where I am. Their other product Facebook I dont use nor do I know anyone my age who does, and Instagram, which they are ad-polluting to the point of un-usability.
- williamstein 2y agoAnd yet Facebook has 3 billion monthly active users: https://www.demandsage.com/facebook-statistics/ https://www.demandsage.com/facebook-statistics/
- Hooray_Darakian 2y agosurely 3 billion accounts
- TulliusCicero 2y agoI'm now one of those people, the ones talking about how they dropped FB. Eventually I logged on and noticed that as I was scrolling, like 2/3rds of the content wasn't from my friends at all, not even re-shared stuff, it was all ads or shorts from randos or random group pages that somehow appeared on my feed. And of course a lot of the things from my friends were, in fact, re-shares. I felt like, if only like 20% or less of the content is original stuff from my friends, what's the point of even being here? This is terrible. So I gave up.
- FireBeyond 2y agoWhen I look at Facebook now, I immediately click Feeds > Friends. It's not 100% perfect, but so so much better. And I see what I "need" with so much less wasted time. I entirely agree with you.
- jsheard 2y agoReality Labs lost another ~$15 billion over FY 2024, between that and the Vision Pro apparently falling short of Apples expectations it doesn't seem like VR is going anywhere fast.
- mattbillenstein 2y agoVR has always sorta been a hedge against missing the next platform the way many companies missed out on the smart phone or social networking - it was never obvious it was going anywhere really.
- fullshark 2y agoMaybe for Apple and the Vision Pro, but Meta wants to own and manifest the next platform into existence, wouldn't call the investments a hedge.
- MangoCoffee 2y ago"Nvidia got lucky with GPU" - Intel https://www.tomshardware.com/pc-components/gpus/intel-ceo-says-nvidias-ai-dominance-is-pure-luck-nvidia-vp-fires-back-says-intel-lacked-vision-and-execution https://www.tomshardware.com/pc-components/gpus/intel-ceo-sa... Maybe Meta will get lucky. Its better for company to bet on something than do nothing for years like Intel and cry about other's "luck"
- h0us3 2y ago[dead]
- mardef 2y agoAnd FB would really like to own the next platform so they don't get kneecapped again by things like Apple's Do Not Track.
- megaman821 2y agoHow much of Meta's revenue does Apple have control over? This is just the price of insurance to make sure it doesn't happen again.
- fullshark 2y ago62 billion dollars a year in profit with revenue still growing....just nuts.
- bloomingkales 2y agoThis company is not even in China.
- yodsanklai 2y agoIt's really hard for me to understand how Meta makes so much money, and why the stock is growing so fast. I wonder how analysts come up with such high valuation (or maybe they don't and it's just an AI bubble?). Meta isn't diversified and their products are clunky and buggy. How long will they be able to maintain their profit? are they capable to come up with something revolutionary enough to replace their profitable products?
- ripped_britches 2y agoSo far it seems like they’re continuing to kick butt. If required, I think they can move pretty quickly to write/rewrite just about anything. Not sure how the future will be, but I’d count on Meta being the largest company in the digital socialization space for decades.
- ethbr1 2y agoMost people don't want new or best, they want easy. Meta is decent at easy. And there's unlikely to be much pushback from the new administration if they want to buy any competitor who appears.
- jncfhnb 2y agoAds
- threeseed 2y agoIt doesn’t sound like you understand what Meta is. They are an advertising company that uses apps to drive traffic and collect data. And along with Google they dominate the space and are continuing to grow at a rapid pace. Whether their apps are clunky and buggy is irrelevant when their advertising platform isn’t. And they will be able to maintain this profit for decades because most businesses are very reluctant to take risks with a profitable channel to market.
- bxhxj7 2y agoWhat people have to pay attention too is Ad Prices. They are proxy for how much Attention is available in the world that Corporations/People are willing to pay to capture. It has been going up for past 3 years and cannot go up forever given the competition in the online ad market with Amazon, Walmart, Netflix, OpenAI etc all rolling out their own Ad biz. There is nothing predictable about what happens to Meta.
- breadwinner 2y agoTikTok is getting banned but Facebook is way more harmful than TikTok. TikTok has never caused a genocide, but Facebook has, in Myanmar. Investigations revealed that Facebook's algorithms played a significant role in amplifying harmful content. Amnesty International reported that these algorithms "proactively amplified" anti-Rohingya messages, effectively turning the platform into a tool for hate speech and incitement to violence. In October 2021, Frances Haugen, a former Facebook product manager, came forward as a whistleblower, and revealed that Facebook consistently prioritized profit over user safety and public good. She stated that internal documents showed the company was aware of its platforms being used to spread hate, misinformation, and violence but chose to hide this evidence to maintain user engagement and revenue. She asserted that Facebook's algorithms favored content that generated anger and division, which in turn increased user engagement. The revelations forced Facebook to clean up its act — and lose revenue in the process — but now Zuckerberg is going back to inciting genocides for profit. Facebook is the app we should be banning.