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Meta Reports First Quarter 2024 Results

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Re: Meta Reports First Quarter 2024 Results

#61

Post by chasd00 »

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 think i sold my apple stock at $10/share. I also had my finger on the buy button for AIG at around $1/share in the depths of the financial crisis but didn't do it. Now I just stick to code, my 401k, and company RSUs heh.

Re: Meta Reports First Quarter 2024 Results

#63

Post by paxys »

jxyxfinite wrote: post #47
blackeyeblitzar wrote: post #12

Down 13% after hours because of guidance: https://finance.yahoo.com/news/meta-q1-earnings-135049624.ht...

Yet tsla is up 12%. Someone make it make sense

Tesla promised self driving taxis and autonomous robots and cheaper new undisclosed products due to release soon, and investors bought it like they always do.

Re: Meta Reports First Quarter 2024 Results

#64

Post by lovecg »

zeroonetwothree wrote: post #38
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.

I hate the recent "enshittification" trend. It seems to come from some place of entitlement in which people think they deserve to get everything for free. Surprise: you only get what you pay for.

My new high end washer and drier come with an iphone app that notifies you when it’s done. It comes with non-optional spam notifications for their other products and subscriptions. It seems that the market of “pay more to get a product without ads” is increasingly disappearing.

Re: Meta Reports First Quarter 2024 Results

#65

Post by kredd »

matsemann wrote: post #46
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".

Facebook is just groups and marketplace, sprinkled with some ads, at least for my age group and area. But groups are very active, especially neighbourhood ones, where I get my hyper local news basically.

Re: Meta Reports First Quarter 2024 Results

#66

Post by threeseed »

ApolloFortyNine wrote: post #21
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.

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…

> The fact that they spend more than everyone else does in the space

We don't know how much Apple spent on Vision Pro.

The project has been going on for at least a decade.

Re: Meta Reports First Quarter 2024 Results

#69

Post by threeseed »

Threads has also now rapidly grown to 150m MAU with higher DAU than X.

It's an incredible achievement to bootstrap a social network to the leader in its category in less than a year. And it demonstrates the power of Facebook and Instagram in being able to drive traffic.

It must be comforting for Meta to know that if they wanted to build a leading TikTok competitor or any other social network in the future they can easily do it.

Re: Meta Reports First Quarter 2024 Results

#70

Post by wkat4242 »

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.

They just do it wrong.

If you see how poor Horizons is compared to something like VRChat that operates on a shoestring budget compare to meta's. Or something like viverse.

Their hardware is OK, but not groundbreaking. Their metaverse platform is really poor compared to the competition, although what they do have over the others is the ability to create in-world instead of in Unity. But really that doesn't stop creators. The environments in VRChat are much more compelling. I think part of this is Meta's way too strict moderation and content policy. Because really for adults a rubber-tile child playground is really just no fun. We need a bit of gritty.

So yeah really they're doing it wrong. I don't know how they do it exactly but clearly all that money goes to the wrong places.

I don't think this means VR is a bad idea. It can work, just not the way Meta thinks it can.

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