Big Tech Little Tech
Meta financials, wearables, WhatsApp opens up, and Facebook’s 20
Feb 13, 2024
Hosts discuss Meta's financials, Brilliant Labs' smart glasses, wearables with Apple Vision Pro, WhatsApp's interoperability, Facebook's 20th anniversary impact, AI deciphering ancient scrolls, and AI aid for language learning.
39:20
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Quick takeaways
- Meta's focus on efficiency and cost-cutting measures led to outstanding financial results and a 20% increase in share price.
- The European Union's Digital Markets Act aims to promote user choice by requiring messaging apps to be interoperable, with Meta working towards interoperability between WhatsApp and Facebook Messenger initially.
Deep dives
Meta's Outstanding Financial Results and Shift towards Efficiency
Meta, formerly Facebook, reported outstanding financial results, leading to a 20% increase in share price, the largest one-day gain in Wall Street history. This success is attributed to the company's focus on efficiency and cost-cutting measures. Notably, Meta issued its first-ever dividend and announced share repurchases. Additionally, Meta has been immensely successful in advertising, generating significant revenue due to its large user base. With over three billion daily users, Meta earns an average of $220 per user annually in the North American market.
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