Notes and thoughts on Meta and Microsoft discussion at GS Communicopia
Correction: I would like to issue a correction from yesterday’s piece on Synopsys. I mentioned the company is trading at ~56x LTM EBITA.
Topic
META
A collection of 96 issues
Meta's (lack of) Agency
Back in 2018, Mark Zuckerberg wrote on Facebook: “One of our big focus areas for 2018 is making sure the time we all spend on Facebook is time well spent. …recently we've gotten feedback from our community that public content -- posts from businesses, brands and media -- is crowding out the
Golden age of Digital Ads, LLM P&L
Golden age of Digital Ads Last month, some researchers at Meta published a very interesting paper that highlighted Meta’s ability to monetize LLMs through its core advertising platform.
Digital Advertising Snapshot, Corpay 2Q'25, Portfolio Change
Digital Advertising Snapshot As is the tradition in every earnings season, I am sharing my digital advertising Snapshot after 2Q’25 earnings. Three key takeaways: For the nine consecutive quarters, Meta has outpaced Google in terms of incremental share.
Novelty bias and future of software engineering, Social's growing share in ad dollars
Alex Telford, who mostly writes on healthcare adjacent topics, recently published this interesting piece: “Thoughts on the future of software development as a non-developer”.
Some notes from Big Tech 10-Qs
I went through Meta, Amazon, and Alphabet’s 10-Qs during this weekend, so just wanted to highlight some interesting points from their 10-Qs. Meta 2Q’25 10-Q Both Alphabet and Meta now disclose total employee compensation expenses.
Meta 2Q'25, CoStar suing Zillow, Portfolio Change
Final Reminder: Prices for new subscribers will increase to $30/month or $250/year from tomorrow. Anyone who joins by July 31, 2025 will keep today’s pricing of $20/month or $200/year.
Meta Ray-Ban, Ads in AI Chats
I have reviewed Meta Ray-Ban glasses a couple of years ago, and I have remained a DAU since then. I mostly listen to audio (music/podcast) and receive calls through my glasses.
MBI Daily Dose (July 16, 2025)
Companies or topics mentioned in today's Daily Dose: Extreme leverage of AI Research team with high talent density, GLP-1 impact on Life Insurance I have been pondering about Zuck’s recent hiring spree of AI researchers.
MBI Daily Dose (July 13, 2025)
Companies or topics mentioned in today's Daily Dose: Future of logistics, Rise of Dupes, Meta vs EU, follow-up on Wealth Ladder Austin Vernon argues that AI-driven autonomy and battery electrification may profoundly transform the labor-plus-fuel cost stack that makes trucking and last-mile delivery