Introduction

Ben Thompson: Cloudflare shares jumped 23% in one day last week on the heels of the earnings announcements. The stock price has more than doubled since the fall when you wrote meta myths and we had a long conversation about meta. Nothing has changed, Ben says; they're still going to lose a lot of money on the reality labs bet. "The most important thing that has not changed about meta is this goes back to the very beginning of meta," he says.