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Snarky only comments aren’t in the spirit of HN… That said I laughed out loud to this. I’m not a FB fan because of all the dark patterns. Edit: Added “only”
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But it may not be a peak for facebook, the company - it is time for a new product.
Facebook successfully digested any vital competition in the social media market, the big question is whether they (still) have the innovation gene in their DNA.
Alternatively, they could keep acquiring any new emerging social apps like BeReal, especially targeting the youngest people, so the platform can keep the attractive demographics forever.
Like I said before, the premature death of Meta Platforms constantly screamed here and even orchestrated and parroted by the mainstream media, has been greatly exaggerated. Still profitable in a market downturn even with rising inflation fears causing everyone else in big tech to slightly miss expectations. DAUs, MAUs up again and they will be here for another 10+ years like it or not. It's business as usual folks.
This one will be interesting. On the one hand, still hugely profitable. An operating margin of 29% is insane. On the other hand, people expect growth and no revenue growth and a large drop in income is definitely not what investors want to see.
[1] Looks like this is pre-tax? I'm calculating 25% post-tax margins.
Like ... why? They hired 20 000 employees net in a year? And Zuckerberg now somehow says that they need to tighten the belt?
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From a less cynical point of view, they have basically bet the farm on "Metaverse." They can no longer buy out competitors (the FTC will block them), and they need a new monopoly to keep printing money. If they can make even a moderate success out of the metaverse project, they can get out of the hole. If they can make a massive success of the project, they will easily be the new Apple. However, I'm not sure that a r…
> If they can make a massive success of the project, they will easily be the new Apple. In what way? If Facebook wanted to replace the iPhone with some "metaverse" device they would need to be able to build a device way more advanced than their current offerings at a price point equal to or less than the iPhone. That means they would need to make up for thousands of person years of engineering, manufacturing, and ope…
And if they achieve it then it will be a game changer as big as the internet or smart phone.
Lower revenue than Q2 of 2021 and higher expenses. They're on track to have significantly lower net income this year than last year. Au revoir, Facebook.
They’ve deeply embedded themselves into my life because of Whatsapp. Life and work are nearly impossible here without Whatsapp.
Do you think we have already seen peak Facebook? Obviously we can't judge from one bad(?) quarter, but from Meta's desperate attempts to copy Tiktok, I think its a slow decline from here.
So it is diversified in that sense.
Imho Facebook has entered Nokia territory. Their core products are losing market share, their innovative products (Oculus) are lacking a killer app.
This is likely the peak for facebook, the website. But it may not be a peak for facebook, the company - it is time for a new product. Facebook successfully digested any vital competition in the social media market, the big question is whether they (still) have the innovation gene in their DNA. Alternatively, they could keep acquiring any new emerging social apps like BeReal, especially targeting the youngest people,…