This Week in Startups $META earnings instant reaction, Apple's NFT rules, SBF backlash & more | E1597
Oct 27, 2022
Sunny Madra, the founder of Definitive Intelligence and a Web2, VR, AR, and crypto expert, teams up with Vinny Lingham, founder of Civic and a Web3 specialist, for a lively discussion on Meta's disappointing Q3 earnings. They analyze the fierce AR/VR competition with Apple and dive into the complexities of NFTs, including Reddit's innovative usage and Apple's controversial new App Store rules. The conversation also touches on the backlash against SBF and features an engaging crypto Q&A session, leaving listeners with plenty to ponder in the digital landscape.
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Meta's Struggles
- Meta's stock is collapsing due to headwinds in revenue and earnings.
- Their bet on VR/AR is seen as a risky move given the current market conditions.
Zuckerberg's Metaverse Focus
- Brad Gerstner's letter to Zuckerberg suggested austerity and a focus on AI.
- Zuckerberg, however, seems to be doubling down on the metaverse.
The End of Personalized Ads
- Facebook benefited from the era of personalized ads, but that era is ending.
- They need to reinvent their business model, and Zuck is betting on the metaverse.