Facebook's Earnings Report

There's a combination of long term skepticism of Facebook as a business and these weird political undercurrents that undergird it. When people actually look at the fundamentals, it's like, yeah, this is a pretty good business. And when they sort of get hung up on narratives, It's like, Oh my God, this business is for certain doom tomorrow. The other thing to remember is these earnings were not good. Their revenue was down 4%. It would have been up 2% in constant currency but even a 2% growth rate for Facebook historically is not very good.