IMO a likely scenario is that Meta dumps some money on the metaverse shit and it bombs, then decides to stop losing $9B a year on that, which means their earnings instantly shoot back up to $30B+ a year, and they’re worth a 15-20x multiple of that. Non-zero chance (even if it’s low) that they have success with the metaverse stuff, then the really skyrocket. Also non-zero chance they can continue to tweak the algorithm on FB and/or make some other acquisitions to boost the value of that side, as well.
1 Like
Meta actually thinks that corporations are going to spend $1500 on a headset so that their employees can have meetings with their avatars in the Metaverse?
1 Like
Nobody wants to play in the Metaverse at home, so now we will focus on trying to convince corporations to force their employees into the Metaverse during work hours (except our own Meta employees don’t want to use the Metaverse either).
So Zuck got on the call and doubled down on this metaverse nonsense, saying they’re going to spend even more money on it moving forward, truly amazing.
Sheryl Sandberg is an enormous piece of shit, but she ain’t dumb, should have known when she bailed.
1 Like
Zuck is proof that most billionaires were just in the right place at the right time
Although according to the movie “The Social Network” he did seem to have a singular focus and a particularly vicious ruthlessness about him.
Obviously being a sociopath is a good way to make a billion dollars.
The actual secret formula is being a sociopath in the right place at the right time.
8 Likes
Sold my IBA at $49.10 today, the exchange rate is towards the high end of the range so exiting now seemed better than risking the exchange rate moving back and offsetting the last 0.45% of arbitrage.
2 Likes
Damn, Netflix is getting assblasted.
Holy shit Amazon -20% after hours
Is the company as a whole worth less than AWS?
All these techbros paid in stock better cut out the avocado toast
Bezos just lost like $40,000,000,000 in 5 minutes
2 Likes
All I can say is I’m glad that 20% of my portfolio is in Beanie Babies
3 Likes
Hard to say, think some of the latter and stocks overall had been so crushed anyways. Rest of market hanging in would make being short feel more uneasy.
These tech companies all seeing the reality of the end of free money and slower demand. These companies all need operational restructuring and probably massive reductions in headcount.
1 Like
I hear there’s good money in building toilets!
2 Likes
Should have shorted them all when I first saw the “day in my life as a 23 year old at Meta/Google” tik toks.
These companies are overpaying everyone by truly astonishing amounts. They’re paying thousands and thousands of borderline useless engineers $350k+. To say nothing of the 100% useless recent grads.
1 Like
I assumed those were fake. The Meta employee posting in on TikTok just too much for me to believe.
1 Like
They might (probably do) need restructuring and I’d imagine that all of the Elon fanboys in VC will be pushing for it if he goes in and starts cutting headcount at Twitter as aggressively as it seems like he will.
Some of the public equity holders are already pushing for it. Cant sit as a large active investor in Meta and not say something about what is going on there, completely out of control for a public company.
Monkey jpegs starting to look pretty good
1 Like