The Social Media Ban Wagon
A programming note: I hope to publish my Deep Dive on Figma tomorrow. Next month, following the big tech’s earnings I will review Meta, Amazon, and Alphabet’s 10-Ks and update my models.
Topic
META
A collection of 96 issues
The Bull Case for AI Content on UGC Platforms
Yesterday, Ben Thompson interviewed Netflix co-CEO Greg Peters. I don’t cover Netflix, but this particular bit on “AI Slop” caught my attention: Ben Thompson: Is AI slop going to save you?
The Battle for Attention
During 1Q’17 Netflix earnings call, Reed Hastings mentioned something that raised some eyebrows or perhaps created a muffled laughter: Think about it when you watch a show from Netflix and you get addicted to it, you stay up late at night.
Digital Advertising's "Bitter Lesson" Moment
Eric Seufert recently had an interesting podcast with a couple of professors who authored the paper titled “The Impact of Visual Generative AI on Advertising Effectiveness”.
The Reality of Meta's Reality Labs
You have all seen the chart of Meta’s Reality Labs (RL) losses. Just as a reminder, ever since Meta started reporting RL as a separate segment, it has reported a cumulative loss of $73 Billion in the last 20 quarters.
Meta's biggest competitor(s)
FTC’s lawsuit against Meta may be a colossal waste of time for everyone involved, but it did have one silver lining. Thanks to this lawsuit, we got access to a lot of documents and research work (both internal and external) which helped investors understand the company a bit better.
Some Portfolio Changes
I made a few changes in my portfolio yesterday which I will discuss behind the paywall. In addition to “Daily Dose” (yes, DAILY) like this, MBI Deep Dives publishes one Deep Dive on a publicly listed company every month.
Messaging Opportunity and Group Chat Dynamics
OpenAI has started piloting group chats for ChatGPT, initially in Japan, New Zealand, South Korea, and Taiwan.
Meta's GEM
Back in March 2025, Meta published an interesting blog post highlighting their innovation in their ad infrastructure. One such key innovation was their Generative Ads Recommendation Model or GEM.
Digital Advertising Industry Snapshot, Portfolio Change
As is the tradition in every earnings season, I am sharing my digital advertising Snapshot after 3Q’25 earnings. Digital ads market growth has accelerated to 18.4% in 3Q’25 (vs 15.7% in 2Q’25 and 14.1% in 3Q’24).