| I largely agree with you, though I'm also rather skeptical. > Facebook is dying slowly in the developed world, that is true. However it is still growing in emerging markets. +1, though this is a slow and not necessarily viable bet. Meta makes about 12x more revenue from their USA/Canada ($52/Q) users than their Asia-Pacific users for example ($4.3/Q). Market share in the USA is extremely valuable, not only for Meta, but for a lot of companies. Apple for example sits at a $3 trillion market cap in spite of Android dominating the global mobile market because iOS captures not the most users, but the most valuable. > WhatsApp has basically zero monetization right now but billions of users. Huge potential cash cow. I agree with this. I think there's a lot of potential in WhatsApp, though I also see two shortcomings with betting too much on it: - WhatsApp is largely used in countries where users are harder to monetize. As stated above, user count matters, but it's not the only factor when it comes to generating revenue. - Messaging is very competitive. A change in WhatsApp's TOS was widely reported to have triggered millions of new user sign ups on Telegram and Signal after just a few weeks [1]. I don't how accurate or overblown this correlation might be, but I do know anecdotally I text people through many different apps, and have switched the primary app I used to text different people multiple times in the last few years. > Instagram still has a ton of potential for further optimized monetization. I think this is still the most straight-forward path to increasing revenue Meta has, and I imagine they're trying to make sure it doesn't fade away like Facebook is. [1]: https://www.theguardian.com/technology/2021/jan/24/whatsapp-... |