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Meta Reports First Quarter 2024 Results

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Re: Meta Reports First Quarter 2024 Results

#71

Post by asadm »

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".

blue app is dead mostly. But instagram is def not!

Re: Meta Reports First Quarter 2024 Results

#72

Post by mhh__ »

threeseed wrote: post #69

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 ea…

The scaling aspect is indeed impressive but I have not seen anyone (exactly zero) that I want to follow on threads.

I want smart people and weird but interesting schizos, not my "friends" from Instagram and Facebook. I mostly like those friends but I know their opinions on most things already for example.

Also unless one is being particularly pedantic he already has the only tiktok competitor (Instagram reels).

Re: Meta Reports First Quarter 2024 Results

#73

Post by goles »

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…

Surprised to see so many people negative on meta in this thread. I've used VR at conventions and buddies houses but I've been holding off on picking up a headset for a couple of revisions until they are in their sweet spot of development. Where most of the kinks are worked out, there's a good library of Apps and games, and doesn't require enthusist level commitment which I don't have the time or patience for anymore.

Recently picked up a Quest 3 and it's honestly astonishing. I (half) joking had the thought when they get to the Quest 5 or 6 and can get the cost down humanity is gonna be in serious trouble. I brought it to a family gathering and one person went out and bought one the next day. Another is going to pick one up as soon as they can find a good deal used.

Horizon worlds is admittedly a little goofy but this is one of the first revision of it. And it works well as drop in for some Apps like escape rooms which probably saves some dev work. I only breezed through the report but it looks like their numbers are up massively YOY.

Only complaints is passthrough is still a little distorted but an enormous improvement. Battery life could still be better but a battery pack helps balance the heatset anyway. Also you can't directly connect to steamVR without going through Quest link which I can't see any reason for other than being anti-competitive and user hostile.

The matrix is coming and I got a feeling metas gonna own it.

Re: Meta Reports First Quarter 2024 Results

#74

Post by threeseed »

StressedDev wrote: post #45
pie420 wrote: post #28

Earlier quoted context omitted.

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?

In June 2022, several artificial intelligence (AI) initiatives that were previously a part of Meta AI were transitioned to Reality Labs. This also includes Meta's fundamental AI Research laboratory FAIR which is now part of the Reality Labs - Research (RLR) division.

https://en.wikipedia.org/wiki/Reality_Labs

Re: Meta Reports First Quarter 2024 Results

#75

Post by HDThoreaun »

StressedDev wrote: post #45
pie420 wrote: post #28

Earlier quoted context omitted.

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?

All the ai research is under reality labs through FAIR. Theyre spending billions on GPU buy alone. You can claim gen ai is a necessity for the metaverse but I do think its a bit misleading to say VR lost 4 billion this quarter when a huge amount of that went to an open source LLM

Re: Meta Reports First Quarter 2024 Results

#76

Post by wongarsu »

mostlysimilar wrote: post #8
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.

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

But they are the dominant player, and have been for many years.

Their only real competitor in terms of market share right now are Sony's Playstation VR headsets, and Meta is easily outcompeting them. The HTC Vive is far behind in sales, and Apple hopes to sell as many headsets in an entire year as the Playstation VR2 sold in the first 6 weeks (which is still impressive considering the order of magnitude price difference). Everyone else seems to be in enterprise-sales mode, which drives profit but not market share. Well, except for ByteDance's Pico, but they don't seem to be doing great outside of China.

Re: Meta Reports First Quarter 2024 Results

#77

Post by wkat4242 »

threeseed wrote: post #69

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 ea…

Seriousy? They have higher daily active users than X??

I'm really surprised to hear that. I don't really use either but wow.

Of course Meta is doing everything to make Threads work, and Elon is doing everything to burn X to the ground, there's that :P But yes it is impressive.

Re: Meta Reports First Quarter 2024 Results

#78

Post by ilrwbwrkhv »

MangoCoffee wrote: post #60
cmrdporcupine wrote: post #25

Earlier quoted context omitted.

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 believe FB is a fad at that time. Who knew it make that much money and still going.

"They trust me, dumb f*cks" - Mark Zuckerberg laughing all the way to the bank.

Re: Meta Reports First Quarter 2024 Results

#79

Post by [deleted] »

jrussino wrote: post #39
harles wrote: post #16

Earlier quoted context omitted.

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.

> new computing paradigms will bring new business models without ads My fear about LLMs emerging as a commonplace computing tool is that they seem like such an obvious target for a whole new type of advertising & propaganda. Whatever you think about the potential for something like "superhuman AGI", it seems clear to me that LLMs have the potential to become better and better at generating text that can convince and…

[deleted]

Re: Meta Reports First Quarter 2024 Results

#80

Post by chaostheory »

goles wrote: post #73
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…

Surprised to see so many people negative on meta in this thread. I've used VR at conventions and buddies houses but I've been holding off on picking up a headset for a couple of revisions until they are in their sweet spot of development. Where most of the kinks are worked out, there's a good library of Apps and games, and doesn't require enthusist level commitment which I don't have the time or patience for anymore.…

Im not surprised about the negative comments. I’d be more surprised if the negative commenters have even tried VR. VR and AR are just such a huge paradigm shift that according to the data, only tweens and children “just get it” as a demographic group without a lot of coaxing and explaining. I would say that it’s their generation’s NES. Being an adult VR enthusiast feels like being part of something like the homebrew computer club, well until Quest came along.
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