> Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. I mean people who had financial gain on the line (like yourselves) pretended this was the case so you could cash in at the time and then pull the rug once it wasn't working any more (as you're doing now), but everyone with half a brain knew it wasn't sustainable. Literally how could that acceleration be p…
FB is making $30+bn a year profit, and is laying off people to reduce costs by $2b. They could continue to pay these people. Large corporations are insane. Every small and medium company would wait to do layoffs until it threatened the business. Some even until after that point. Layoffs are awful. Large corps, nah. Just lay people off if we get a little nervous! Note, I don't think these corps are entitled to employ…
The quarterly revenue was about $27bn but net profit $4bn, so you're off by a factor of 7 or more on the estimate. R&D expenses alone are $9bn, and the largest operational expense is employee comp, by a LOT, distant second being data centers. For added measure, they also reduced real estate footprint along with the 11k employees.
The company has also essentially doubled in size every year since ~2013, and that was certainly encouraged by false positives in terms of future projections when the pandemic hit. So this is really not surprising, and a major cost-saving function for them.