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Meta Reports Second Quarter 2022 Results

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Re: Meta Reports Second Quarter 2022 Results

#201

Post by PossiblyKyle »

woadwarrior01 wrote: post #173
kart23 wrote: post #147

Earlier quoted context omitted.

what do you mean by pecking order? like are PEs less important than SWEs?

Yes. I was told this the almost as soon as I started as a PE, by colleagues. 2+ years later, having worked in both PE and SWE teams, I noticed first hand that PEs were consistently looked down upon by both SWEs and SWE managers.

Conversely, I was applying to Meta and have made it to the final stage. The interview was held with the head PE in the country. Both him and all preceding interviews clearly signaled PEs are 'the ones who do both' here, and their scarcity has made them quite valuable in the branch (according to them). It is also reflected by their salary here, which is 15% higher for interns and 50% higher as a FTE.

Re: Meta Reports Second Quarter 2022 Results

#202

Post by TheRealNGenius »

deltree7 wrote: post #108
threeseed wrote: post #85

Earlier quoted context omitted.

Might want to watch this as it’s quite clear Meta knows exactly what’s required to make the Metaverse a reality. And if they achieve it then it will be a game changer as big as the internet or smart phone. https://youtu.be/2zHDkdkqd1I

Bingo! I'm always astonished by the amount of cluelessness displayed by HN crowd -- supposedly at the cutting edge of things. Like all other platforms, about 5% of the posters at HN provide extremely valuable content. The rest just parrot current popular pitchfork (anti-capitalism, anti-corporate, anti-advertisments -- stuff that I can get from TikTok in a more entertaining format).

Psh, hacker news is chock-full of clueless nincompoops. The original post saying “au Revoir” to facebook, lol. They actually think that facebook will be gone.

Re: Meta Reports Second Quarter 2022 Results

#203

Post by redwood »

rightbyte wrote: post #199
potatolicious wrote: post #153

Earlier quoted context omitted.

Agreed. I think there a few key observations I've developed working in BigTech for many years now, that I don't think are necessarily obvious from the outside: - You retain engineers by giving them money/stock, and by giving them a well-defined system towards advancing within the company. Typically in BigTech advancement into the senior ranks is defined largely by ability to lead major efforts that require significan…

Sounds very unsubstainable. The amount of new staff is just insane. It has to be chaos on the inside and tens of thousands walking around without anything to do.

It sounds like that would be the case but imagine every two pizza team has one or two new junior person and occasionally a senior person: you can actually absorb that at the team level in a reasonably pragmatic way. Not to say it's not inefficient or unnecessary; I just mean each team is creating its own work essentially in their narrow niche and feels it can absorb more engineering bandwidth into that niche... whether this is efficient in a macro sense is a separate question

Re: Meta Reports Second Quarter 2022 Results

#204

Post by redwood »

rightbyte wrote: post #199
potatolicious wrote: post #153

Earlier quoted context omitted.

Agreed. I think there a few key observations I've developed working in BigTech for many years now, that I don't think are necessarily obvious from the outside: - You retain engineers by giving them money/stock, and by giving them a well-defined system towards advancing within the company. Typically in BigTech advancement into the senior ranks is defined largely by ability to lead major efforts that require significan…

Sounds very unsubstainable. The amount of new staff is just insane. It has to be chaos on the inside and tens of thousands walking around without anything to do.

It's true tho that big companies that never really let floaters go tend to have tons of them around

Re: Meta Reports Second Quarter 2022 Results

#205

Post by rightbyte »

redwood wrote: post #203
rightbyte wrote: post #199

Earlier quoted context omitted.

Sounds very unsubstainable. The amount of new staff is just insane. It has to be chaos on the inside and tens of thousands walking around without anything to do.

It sounds like that would be the case but imagine every two pizza team has one or two new junior person and occasionally a senior person: you can actually absorb that at the team level in a reasonably pragmatic way. Not to say it's not inefficient or unnecessary; I just mean each team is creating its own work essentially in their narrow niche and feels it can absorb more engineering bandwidth into that niche... wheth…

Sure, but I guess many teams are "full" and there has to be newbie teams.

Also FB has been hireing way more than I thought for a long time:

mhio posted further down:

2017 20,658 43% yoy

2018 30,275 47%

2019 39,651 31%

2020 52,534 32%

2021 63,404 21%

2022 83,553 32%

Between 2016 and 2018 a 4 person team would go 4->6->9. Assuming even distribution of new hires.

Any team bigger than 4 would probably need a split.

I just don't see how any organization can grow this quick without cracking big time.

Re: Meta Reports Second Quarter 2022 Results

#206

Post by adammarples »

FullStackAda wrote: post #195
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.

EU is pushing for interoperability of messengers apps, so there is a potential of disruption in this area. I am not saying that Whatsapp is toast, I just assume if interoperability is implemented, some companies would be highly motivated to bite into Meta's user base, right when Meta would have to think about some unsexy Whatsapp monetization.

It's baffling that Google and apple between them don't run messaging. Almost all of the messages are sent from their devices.

Re: Meta Reports Second Quarter 2022 Results

#207

Post by Eddy_Viscosity2 »

potatolicious wrote: post #153
redwood wrote: post #138

Earlier quoted context omitted.

I think another part of it is actually related to how you retain people, the more people you have the more they want to feel they can advance which is made easier by giving more and more people chances to build teams and from there to expand it to ever more specific niches

Agreed. I think there a few key observations I've developed working in BigTech for many years now, that I don't think are necessarily obvious from the outside: - You retain engineers by giving them money/stock, and by giving them a well-defined system towards advancing within the company. Typically in BigTech advancement into the senior ranks is defined largely by ability to lead major efforts that require significan…

Sounds ripe for peter principle problems. Don't these companies also allow for advancement in place?

Re: Meta Reports Second Quarter 2022 Results

#208

Post by parkingrift »

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 problem with Meta is they can’t innovate. Facebook, now Meta, have achieved all of their growth through acquisitions. Instagram, WhatsApp, Oculus, and Giphy.

The days of Meta making huge acquisitions are over. The world governments aren’t going to allow it. So now Meta will actually have to innovate to compete.

And what are they up to? Copying features from TikTok. Losing $2.5 billion per quarter on VR while making little to no progress.

WhatsApp is the biggest moat, but it’s also the hardest to monetize, and Meta has given no evidence that they can fend off a challenger without acquiring their way out.

Good luck to anyone holding Meta stock. They won’t be able to buy their way out of this, not this time.

Re: Meta Reports Second Quarter 2022 Results

#209

Post by parkingrift »

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

Very bearish

1) Zuck doesn’t know how to innovate.

2) Facebook, now Meta, has achieved 100% of their recent growth through acquisitions.

3) The days of Meta being allowed to make big acquisitions are over. World governments have already started clamping down.

4) Copying TikTok features is just more evidence of 1.

5) Ad regulation is coming.

6) The Metaverse play seems comically distant, and shareholders won’t stomach losing $2.4b per quarter on a gambit while the core business declines.

7) Zuck has a majority of voting shares. I’m shocked you think this is positive. It’s an extreme negative. Zuck can prevent the company from course correcting.

Re: Meta Reports Second Quarter 2022 Results

#210

Post by UncleMeat »

FullStackAda wrote: post #196
deltree7 wrote: post #108

Earlier quoted context omitted.

Bingo! I'm always astonished by the amount of cluelessness displayed by HN crowd -- supposedly at the cutting edge of things. Like all other platforms, about 5% of the posters at HN provide extremely valuable content. The rest just parrot current popular pitchfork (anti-capitalism, anti-corporate, anti-advertisments -- stuff that I can get from TikTok in a more entertaining format).

And yet you're reading HN? It's not an anti-capitalism stance to call Metaverse idea for what it is - trying to sell an elephant. Capitalism is not about going all in on the craziest ideas ever. What is their bet anyway? What users' need are they trying to address or create? Is this a new and better video game platform? Even if they are successful, VG are still very niche, especially compared to their social network…

I'm not on board with VR, but I think that the sales pitch is very clear and you are missing it.

It is Roblox. It is a collaborative building environment where the content that people create and share for one another is the interactive world rather than text, photos, or videos, done through VR rather than traditional computing.

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