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Meta Reports First Quarter 2024 Results

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Re: Meta Reports First Quarter 2024 Results

#41

Post by ianstormtaylor »

harles wrote: post #16
mostlysimilar wrote: post #8

Earlier quoted context omitted.

Don’t worry. The ads come once they establish themselves as the dominant player.

Maybe. It is nice to see cash transactions and subscription models in the space. There’s a chance (maybe it’s slim) that new computing paradigms will bring new business models without ads. Maybe I’m just an optimist.

Sounds much closer to an apologist than an optimist if you ask me.

Although more charitably, a future apologist—who maybe has good intentions, but hasn’t stepped back to gain context and realized that their projection is at odds with the systemic incentives in play.

Re: Meta Reports First Quarter 2024 Results

#42

Post by brigadier132 »

renegade-otter wrote: post #15
harles wrote: post #7

Earlier quoted context omitted.

I’m not sure it’s a good business strategy, but I am glad to see ad money fueling more interesting tech than more profitable ads.

The days of interesting tech have been gone for a couple of decades now. Every technology is now being quickly enshitified. It's ALL about selling you crap. The nerd Internet was the best, but it's never coming back. The bandwidth gave us streaming - okay, I'll give you that, but we had that before. It's more of an infrastructure thing than "interesting" tech.

The nerd / weirdo internet still exists, it's just not in your safe space.

Re: Meta Reports First Quarter 2024 Results

#43

Post by binary132 »

renegade-otter wrote: post #15
harles wrote: post #7

Earlier quoted context omitted.

I’m not sure it’s a good business strategy, but I am glad to see ad money fueling more interesting tech than more profitable ads.

The days of interesting tech have been gone for a couple of decades now. Every technology is now being quickly enshitified. It's ALL about selling you crap. The nerd Internet was the best, but it's never coming back. The bandwidth gave us streaming - okay, I'll give you that, but we had that before. It's more of an infrastructure thing than "interesting" tech.

It can come back (in a new form obviously), we just have to build it and secure it, and not relinquish it.

Re: Meta Reports First Quarter 2024 Results

#44

Post by xyst »

jsheard wrote: post #4

Oof, another $4 billion in the hole for Reality Labs. I really want VR to succeed but seeing the biggest player by far still struggling to find any path to profitability (or even breaking even) after iterating on it for a decade makes it hard to be optimistic.

I don’t see VR becoming mainstream. At least today anyways. It’s very niche. Hardware is clunky. The software is locked to Apple or Meta APIs. It’s difficult to explore when the manufacturers put up so many walls within their walled up ecosystems.

Re: Meta Reports First Quarter 2024 Results

#45

Post by StressedDev »

pie420 wrote: post #28
ApolloFortyNine wrote: post #21

Earlier quoted context omitted.

The fact that they spend more than everyone else does in the space combined just blows my mind. Their Horizon worlds is literally just a worst VR chat which was developed for And that $4 billion is just per quarter. I honestly would love to see a full breakdown. Nintendo's entire revenue is 12 billion, which is less than Meta VR spends alone, and that includes everything Nintendo does, including developing games. How…

it's very obviously "creative" accounting. Facebook is throwing lots of other expenses into the VR bucket to make other departments look better.

That is a very serious charge. Do you have any proof or are you just making things up?

Re: Meta Reports First Quarter 2024 Results

#46

Post by matsemann »

HDThoreaun wrote: post #2

Results look good to me, EPS about double yoy, reality labs still losing billions. Stock down 12% after hours though so I must be missing something I guess

It's so weird to me. My Facebook feed is dead, no one posts anymore. The last weeks they spam me with notifications about nothing to get me back in and creating fake engagement. "Peter you added as a friend in high school but have never spoken to since or ever interacted with on the platform commented on a meme page, check it out".

Re: Meta Reports First Quarter 2024 Results

#48

Post by whiplash451 »

scottm01 wrote: post #36
renegade-otter wrote: post #15

Earlier quoted context omitted.

The days of interesting tech have been gone for a couple of decades now. Every technology is now being quickly enshitified. It's ALL about selling you crap. The nerd Internet was the best, but it's never coming back. The bandwidth gave us streaming - okay, I'll give you that, but we had that before. It's more of an infrastructure thing than "interesting" tech.

There's literally an ad on the front page right now for a YC startup hiring engineers to protect patient privacy. Follow the link? The company exists to better sell ads based on patient data (but in a "compliant" manner).

Link?

Re: Meta Reports First Quarter 2024 Results

#49

Post by rurp »

blackeyeblitzar wrote: post #20
jsheard wrote: post #4

Oof, another $4 billion in the hole for Reality Labs. I really want VR to succeed but seeing the biggest player by far still struggling to find any path to profitability (or even breaking even) after iterating on it for a decade makes it hard to be optimistic.

It is possible that now is the right time to keep investing in it. They already have huge sunk costs, but a lot has changed since they began. LLMs became a thing. Display tech has continued to evolve quickly. There is more information on the market after seeing how products from Sony, Apple, and others have done. Meta also recently announced their new OS and their more-open platform strategy. Mobile processors are al…

Placing a bet is one thing, but Facebook is spending enough money to fund a moderately sized country. I don't mind that they are doing it though, even though I think it's a terrible business decision. Facebook spends plenty of money on things that are worse for the world and maybe we'll eventually get some interesting tech out of it.

Re: Meta Reports First Quarter 2024 Results

#50

Post by kirubakaran »

cmrdporcupine wrote: post #25
neverokay wrote: post #11

Earlier quoted context omitted.

It’s a trillion dollar company dude. Many people laughed at their 1B ipo valuation. Basically, never ignore these things.

Man, I bought some stock a bit after IPO, it dropped a bunch, and I idiotically sold later at a slight loss in 2013 after people all around me constantly went on about how they would never make money. It's now worth 17 times what I sold at. I also remember around Google's IPO people questioning how they'd ever make money.

I used to pay a lot of attention to the comments of certain HN users who made well reasoned but (with the clarity of hindsight) mostly doomer predictions about various topics. I wish I hadn't listened to them.
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