Topic

META

A collection of 75 issues

The Honeymoon Phase of Capacity

Although I am yet to write any Deep Dive on any neocloud, I still like to pay close attention to what they are saying during their earnings calls. Both CoreWeave and Nebius had some interesting nuggets in their 1Q’26 call. Let’s start with CoreWeave. Just like the hyperscalers,

Digital Advertising Industry Snapshot 1Q'26

As I do after every quarter, let me share the snapshot of the overall digital advertising industry. Please note that digital advertising industry is defined as Alphabet’s advertising revenue+ Meta’s advertising revenue+ Snap revenue+ Pinterest revenue+ Microsoft Search advertising revenue+ Amazon advertising revenue+ Trade Desk revenue+ AppLovin revenue.

Meta 1Q'26: Nothing to Complain About

I know Meta’s stock is down after yesterday’s earnings, but I have a hard time complaining much as a shareholder. I will discuss why market may not share my enthusiasm later, but let me first share and explain why my own enthusiasm hasn’t abated post-earnings. When I

Meta's Heterogeneous Fleet

Last month, I mentioned the following on Meta’s Chip Resilience: “…in an earlier blog post last year, Meta’s own engineers mentioned dealing with 5–6 hardware SKUs a year makes it harder to move workloads around and can create underutilization and software friction. From Meta’s own blog

Meta Strikes Back!

Following the Llama 4 fiasco and almost 9 months after rebuilding the Meta Superintelligence team (MSL), Meta has finally released a new model: Muse Spark! Just a month ago, The New York Times depicted a pretty unflattering picture of how Meta’s efforts in developing the frontier model are not

Man and Machine

For a typical company, analysts and investors evaluate a company’s capital allocation by looking at how the company allocates the cash it generates. Ultimately, there are only five things you can do with your cash flow from operations: a) invest in your own business to grow more in the

Social Media's Defense

Last week, I shared my concern that algorithmic content may force companies such as Meta to share some liabilities for the content shown on their properties because of the product design choices these companies made. From my piece: I…do sympathize with the concerns related to algorithmic content on all

Thoughts on Last Week

Programming Note: I will take tomorrow off as I have some family commitment. I will be back on Monday. Ouch! Last week was quite terrible for MBI portfolio. I will share some thoughts on how I am thinking through the portfolio behind the paywall. In addition to “Daily Dose” (yes,

Digital Engagement's Fat Tail Risk?

“There are decades where nothing happens; and there are weeks where decades happen.” Indeed, Meta, along with other social networks and potentially any company that relies on engagement online, may be passing through a week that can have a much deeper implication over the next decade. Meta specifically suffered two

Meta's Agentic AI Ambitions

When Meta started building their Superintelligence team (MSL) in mid-2025, I certainly expected to see faster progress than what we have seen from them so far. I wonder if the Llama 4 fiasco as well as the backlash for “Vibes” last year made Meta much more tentative than usual for