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Meta Reports Second Quarter 2022 Results

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Re: Meta Reports Second Quarter 2022 Results

#111

Post by DeRock »

Karrot_Kream wrote: post #71
cletus wrote: post #57

Disclaimer: Ex-Facebooker. The first thing to know about Facebook is that they view the social media landscape in two dimensions: format and audience size. Format here means text -> audio -> video. So if you look at the match up between audience of 1:1,000,000 and text you'll find Twitter, for example. This has served FB quite well but what happens after video, if anything? Well, the company believes the next two ste…

> So now Meta stock has lost half its value. The best performers will be looking at the door. An effort to weed out low performers is going to make things incredibly toxic. It won't weed out bottom performers. It'll weed out those who are the worst at politics because that's what employee calibration is. Just FYI this is not a uniquely Meta problem or even a Big Tech problem. This is going to hit almost every tech co…

On a 5 year period:

-MSFT: up 267%

-GOOG: up 143%

-AMZN: up 131%

-AAPL: up 316%

and META? down 6%

Re: Meta Reports Second Quarter 2022 Results

#112

Post by antoniuschan99 »

rightbyte wrote: post #84

"Headcount was 83,553 as of June 30, 2022, an increase of 32% year-over-year." Like ... why? They hired 20 000 employees net in a year? And Zuckerberg now somehow says that they need to tighten the belt?

Thinking they had an aggressive hiring for metaverse

Re: Meta Reports Second Quarter 2022 Results

#113

Post by steve_adams_86 »

paulpauper wrote: post #88
MarcellusDrum wrote: post #78

Do you think we have already seen peak Facebook? Obviously we can't judge from one bad(?) quarter, but from Meta's desperate attempts to copy Tiktok, I think its a slow decline from here.

They have Instagram and what's app , too, let's not forget. So it is diversified in that sense.

It's popular to hate on Meta/Facebook but those acquisitions were very prescient and evidently pure dumb luck, either. The same Zuckerberg is still a directional force now as he was then, so it seems it isn't cut and dry that the company will only trend down from here.

The bet on VR seems dubious to me, but I'm getting old and boring. I don't know what anyone likes.

Re: Meta Reports Second Quarter 2022 Results

#114

Post by snoopy_telex »

rightbyte wrote: post #84

"Headcount was 83,553 as of June 30, 2022, an increase of 32% year-over-year." Like ... why? They hired 20 000 employees net in a year? And Zuckerberg now somehow says that they need to tighten the belt?

I have no idea what all those people are actually doing. That seems so heavy a head count for the public end result.

Is there a break down somewhere of how many are SWE vs SRE vs support?

Re: Meta Reports Second Quarter 2022 Results

#115

Post by pclmulqdq »

fleddr wrote: post #69

As usual, people making a fool out of themselves by confusing "Facebook is no longer cool" with actual value. Half the adults on this planet use a Meta product DAILY, and they added some 3% to it in an incredibly difficult environment. The only interesting thing in the results are the lower ad prices.

The real question is how many of those people are getting off the social networks, which are highly monetized, in exchange for people who are joining WhatsApp, which is nearly un-monetized.

If Facebook and Instagram are losing the eyeballs of rich young people, and instead the DAUs are Indians and Latin Americans (as far as I know, these are the demographics on WhatsApp) with a lot less disposable income, those ad dollars are going to run away fast.

It looks like that shift has begun to happen, with the reductions in ad prices and the increase in sales expenses for less revenue.

Re: Meta Reports Second Quarter 2022 Results

#116

Post by Karrot_Kream »

DeRock wrote: post #111
Karrot_Kream wrote: post #71

Earlier quoted context omitted.

> So now Meta stock has lost half its value. The best performers will be looking at the door. An effort to weed out low performers is going to make things incredibly toxic. It won't weed out bottom performers. It'll weed out those who are the worst at politics because that's what employee calibration is. Just FYI this is not a uniquely Meta problem or even a Big Tech problem. This is going to hit almost every tech co…

On a 5 year period: -MSFT: up 267% -GOOG: up 143% -AMZN: up 131% -AAPL: up 316% and META? down 6%

5 year periods don't affect employee compensation packages. Most people in tech last at a company for 2 years. Most cliffs are at the 4 year mark. META has dumped harder than most of the other Big Tech companies over the last year, but it's also the newest and has more growth priced in than the others who have been around for longer.

If we look at YTD:

- MSFT: -19.68%

- GOOG: -21.67%

- AMZN: -29.02%

- AAPL: -13.93%

- META: -49.91%

You're losing money on your compensation package anyway. If your base salary is high enough at META (given cash on hand), then it can offset losses at most of these other companies. That said, META is probably most poised to suffer from a brain drain because of its relative stock performance. I still don't think it's going to lead to any sort of talent crisis (unless this triggers an exodus of senior talent holding the company's infra going or some other cultural factor.)

Re: Meta Reports Second Quarter 2022 Results

#117

Post by pclmulqdq »

cm2012 wrote: post #98

I am very bullish on FB: 1) Founder still has majority voting shares, gives a lot more freedom. 2) I think the Metaverse stuff will pay off in the long run 3) They are making the changes necessary to compete with TikTok. I am buying shares now at this price

Honestly, the whole question with FB stock is whether you believe the Metaverse stuff will pay off. I give them worse than even odds, but better than a 10% chance, to be the ones who get it right.

Re: Meta Reports Second Quarter 2022 Results

#118

Post by [deleted] »

dnissley wrote: post #76
chrisco255 wrote: post #65

Earlier quoted context omitted.

Re: #2, they also decided to merge Facebook with Oculus login, and I still refuse to buy an Oculus for that reason alone. I'm tired of my data being cross analyzed and seeing creepy ads follow me around the internet. Last thing I want to do is plug into some Facebook metaverse where even my eyeball movements are analyzed and processed. As a kid I thought I would love VR. And even as solid as the modern experiences ha…

re: The merging of facebook with oculus login -- next month you'll be able to create a standalone "meta" account, which are basically the equivalent of the old oculus accounts. You don't have to link them with a facebook account or any other existing account (but you will have the option). https://store.facebook.com/help/accounts/?intern_source=blog... Disclaimer: I work on a team that's helping out with this effort

[deleted]

Re: Meta Reports Second Quarter 2022 Results

#119

Post by pclmulqdq »

mgl wrote: post #82

This is likely the peak for facebook, the website. But it may not be a peak for facebook, the company - it is time for a new product. Facebook successfully digested any vital competition in the social media market, the big question is whether they (still) have the innovation gene in their DNA. Alternatively, they could keep acquiring any new emerging social apps like BeReal, especially targeting the youngest people,…

The FTC almost blocked the instagram acquisition. I doubt they would let Meta get away with that trick again.

Re: Meta Reports Second Quarter 2022 Results

#120

Post by thematrixturtle »

brianhorakh wrote: post #73
spaceman_2020 wrote: post #63

Earlier quoted context omitted.

They’ve deeply embedded themselves into my life because of Whatsapp. Life and work are nearly impossible here without Whatsapp.

Talk to your friends and family about matrix.org, setup a whatsapp bridge for the laggards.

Signal is a more realistic compromise.
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