Philosophically, it's easy and even attractive to sympathize with this view, but speaking practically here, if there were a superior method to raise awareness of the existence of my small and insignificant business, I would love to do it.
Until then, Facebook ads work better than anything I have tried.
Are you saying everything else that they do that generates revenue fits into just 1.6% of total revenue?
That's wild given that they also have a somewhat successful VR headset product and I assume that they also charge money for a bunch of other stuff like API access, etc.
How many headsets do you have to sell to make an impression against 32B though? Even the most optimistic sales guesses put total sales at < 5B over their entire lifetime. That's probably only a few hundred million this year, if that.
I don’t get this line of thought. These employees were well paid, and earned good money for many years. They’ve had their fill, it’s time to move on to some new job.
A company should be praised for trimming the fat and reducing headcount: Making leaner more efficient operations. People complain why it takes thousands of engineers to run an app, but then they still complain when you try to reduce amount.
How are those companies insulated from the same economic pressures that caused the big tech layoffs?
Maybe rising borrowing costs will be slower to affect consumer discretionary companies, but they will, arguably more than monopolistic big tech. Boeing is an exception because of government contracts.
> Advertising revenue was $31.498 billion, up 12% year-over-year. Excluding foreign exchange impact, advertising revenue grew 13%.
98.4% of their revenue is ads!
Full earnings: https://www.cnbc.com/2023/07/26/meta-to-report-second-quarte...
> Earnings: $2.98 per share vs. $2.91 expected by Refinitiv.
> Revenue: $32 billion vs. $31.12 billion expected by Refinitiv.
> Daily Active Users (DAUs): 2.06 billion vs 2.04 billion expected, according to StreetAccount.
> Monthly Active Users (MAUs): 3.03 billion vs 3 billion expected, according to StreetAccount.
> Average Revenue per User (ARPU): $10.63 vs $10.22 expected, according to StreetAccount.