Comment by ath3nd
Edgy prediction: Meta is irrelevant and on a path to even further irrelevancy, and, fingers crossed, a bankruptcy or at least Zuck being removed as the main man
Edgy prediction: Meta is irrelevant and on a path to even further irrelevancy, and, fingers crossed, a bankruptcy or at least Zuck being removed as the main man
Edgier prediction: Meta is too (big, but more importantly) relevant to (be allowed to) fail, because it can be co-opted by TLAs due to its apps being pre-loaded on mobile devices.
There were a lot of things too big to fail
Lehman brothers, Enron.
When this bubble pops, its going to be absolute chaos maybe just like last time
It will be chaos for those working at Meta and those invested in them too much without an appropriate hedge. I doubt I will notice much, to be honest.
Even if Meta tanked, unless Messenger/Whatsapp stop working, it’s kind of beside the point how much their stock trades for. Everyone will just use whatever has or keeps the most public interest, whether that is Meta-owned or something else.
The worrying aspect is that for Meta to really tank in value, the shit has to have already hit the fan, and it probably would not be isolated to Meta.
My point in my prior comment was that Meta serves the purposes of the IC status quo just by doing what they’re already doing. Cloudflare too, in a way.
> Meta serves the purposes of the IC status quo
The problem is that their products are getting worse and worse. Signal is already taking a huge share from WhatsApp (ads and AI chat bots, really?) and Messenger.
TikTok absolutely obliterated Instagram. Facebook is sliding into irrelevancy, and most importantly, they have a lot of failed products like Oculus, Metaverse (wtf is it anyway), LLAMa, etc. Now they are sliding into even more irrelevance and burning money even faster trying to poach extremely expensive OpenAI folks. My conspiracy theory is that Facebook ads earning numbers are somehow a scam.
After so many bad decisions on their part, so much waste and bad execution that I can't see them surviving the next 5 years.
I meant that if meta actually goes under, since they are clearly a decent part of S&P 500, it might create a spiraling effect similar to lehman brothers which can affect the world economy and thus you and me both.
They better get their shit sorted.
"The Zuck" can't be removed — he has more the 60% of the votes![0] The board stupidly voted to do so a few years ago.
[0]: He only has about 13% of the shares, but the dual allocation means that his class B shares are worth 10 votes. And he owns 99% of those shares. https://observer.com/2023/06/mark-zuckerberg-2023-shareholde...