"African (predominantly South Sudanese) youth comprise at least 19 per cent of young people in custody despite being less than 0.5 per cent of Victoria's youth population."
It is amazing how many people think they know better than the guy whose company did $120 billion in revenue last year. Maybe Zuck has more business sense than some rando writing for the Atlantic?
Imo paid verification will absolutely make sense to the tens of millions of brands that advertise on Meta's platforms.
"Nobody seriously thinks that Facebook or Twitter will rake in anything remotely comparable" (to the billions made by airline fees)
SnapChat already has 2 million paid subscribers. Between FB and Insta, Meta has > 6x as many active users and will charge for verification separately at this stage so 10 million paid Meta accounts seems realistic in the short term = ~$1.44 billion a year.
2.96 billion people remember that the company exists on a daily basis. Meta did more than three times TikTok's reported total 2022 revenue in Q4 alone.
This may be the silver lining of the market cap evaporation for Meta. It is harder to argue that it is an all powerful monopoly now vs in 2021.
What sweet irony it would be if the biased coverage by NYT, WaPo, etc allowed Meta to resume making
large acquisitions and maintain their dominance for years to come.
Meh big companies run cringe ads... Yes, I have a Quest and have had fun with friends over. Multiple Quests would be even more fun, space provided. You can talk and use the device at the same time. Much like you can play chess, PlayStation, etc and talk.
They've sold millions of units and reported $1.5 billion of sales on the Quest store so maybe it's not so absurd.
The only meltdown is the stock price. FB is still the most popular social network in the world. Insta is likely second. Quest has outsold Xbox and is on the way to outselling PlayStation.
$27 billion in revenue from three billion daily active users last quarter. Bytedance by comparison lost $7 billion last year. Meta Reels are being shared one billion times and viewed 140 billion per day. As much as the biased media wants it to be true, Meta isn't going anywhere anytime soon. Consumers couldn't care less about the stock price.
How is a company that did $27 billion in revenue last quarter and has 3 billion users imploding? The stock price is down (a similar amount to Netflix,PayPal and other quality companies). There is a difference.
https://m.imdb.com/title/tt14129378/