Credit report shows Meta keeping $27B off its books through advanced geometry • Hacker News Board

Re: Credit report shows Meta keeping $27B off its books through advanced geometry

#11

Post by rufusdali » Fri, Nov 28, 2025, 4:32 PM UTC

colinbartlett wrote: post #3

Can anyone comment about how common this (apparently legal) practice is?

About as common as breathing.

Re: Credit report shows Meta keeping $27B off its books through advanced geometry

#12

Post by typs » Fri, Nov 28, 2025, 4:35 PM UTC

Gabrys1 wrote: post #4

[flagged]

The Matt Levine article on this financing is more readable: https://news.bloomberglaw.com/mergers-and-acquisitions/matt-...

Re: Credit report shows Meta keeping $27B off its books through advanced geometry

#13

Post by bluGill » Fri, Nov 28, 2025, 4:35 PM UTC

exacube wrote: post #8

[flagged]

If the llc declares bankruptcy does meta have to pay the bank for it - or can they buy the assets at fire sale prices?

Re: Credit report shows Meta keeping $27B off its books through advanced geometry

#14

Post by cm2012 » Fri, Nov 28, 2025, 4:38 PM UTC

exacube wrote: post #8

[flagged]

Very useful, ty

Re: Credit report shows Meta keeping $27B off its books through advanced geometry

#15

Post by SpicyLemonZest » Fri, Nov 28, 2025, 4:42 PM UTC

colinbartlett wrote: post #3

Can anyone comment about how common this (apparently legal) practice is?

Setting up a separate company for a major construction project is so common that it would be surprising to hear someone didn’t do it. The structure of the OP makes it hard to understand if there’s some more specific aspect he’s objecting to.

Re: Credit report shows Meta keeping $27B off its books through advanced geometry

#16

Post by totallymike » Fri, Nov 28, 2025, 4:42 PM UTC

Folks in the comments here begging ChatGPT to teach them how to read

Re: Credit report shows Meta keeping $27B off its books through advanced geometry

#17

Post by austin-cheney » Fri, Nov 28, 2025, 4:43 PM UTC

> This treatment is considered acceptable because the people who decide what is acceptable have accepted it.

Wasn't that the root of the 2008 crash? The debt spiral was acceptable because people were making enough money in the present that regulators were powerless to advise against it. In a sane world people often go to jail for decades when doing this at pennies on the dollar.

Re: Credit report shows Meta keeping $27B off its books through advanced geometry

#18

Post by sbierwagen » Fri, Nov 28, 2025, 4:44 PM UTC

colinbartlett wrote: post #3

Can anyone comment about how common this (apparently legal) practice is?

A couple thousand of them in the US https://carta.com/data/spv-spotlight-q3-2024/

Re: Credit report shows Meta keeping $27B off its books through advanced geometry

#19

Post by mertd » Fri, Nov 28, 2025, 4:46 PM UTC

This is hardly a secret. Matt Levine blogged about it: https://www.bloomberg.com/opinion/newsletters/2025-10-29/put...

Re: Credit report shows Meta keeping $27B off its books through advanced geometry

#20

Post by JoshTko » Fri, Nov 28, 2025, 4:47 PM UTC

I’m guessing Meta isn’t the only one doing this