Meta
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Meta is well-positioned to the biggest beneficiary of AI and the largest company in the world.
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Meta is once again facing investor skepticism over its spending; I can understand reasonable doubt in the short and medium term, but the long-term bet on Mark Zuckerberg still seems worth making.
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Meta is making lots of noise about being open, in everything from AI to the metaverse. This isn’t desperation: it’s smart strategy that understands Meta’s true differentiation.
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Meta deserves a bit of a discount off of its recent highs, but a number of myths about its business have caused the market to over-react.
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Meta’s new hardware is more impressive than expected, and the Microsoft partnership makes a lot of sense. The question is if Meta will capture enough value to outweigh their costs.
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Facebook’s reorganization into Meta is the ultimate bet on the power of founder control.
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Meta Earnings, Meta’s Deteriorating Ad Metrics, CapEx Meta
Meta’s earnings were received positively by investors, but there were definite causes for concern.
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Platform Power Is Underrated
Platforms are so powerful that Apple’s latest court loss won’t change the course of the iPhone; that’s why it’s worth it.
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An Interview with Meta CEO Mark Zuckerberg About AI and the Evolution of Social Media
An interview with Meta CEO Mark Zuckerberg about Llama and the AI opportunity, the evolution of social medial, and what it means to connect.
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Meta v. FTC, The Three Facebook Eras, Video Slop and Market Forces
The FTC’s case against Facebook doesn’t make sense because it conflates three distinct Facebook eras, and today’s era is very much defined by competition.
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Trade, Tariffs, and Tech
There is an argument for the Trump tariffs, but the risks are too great relative to the uncertain rewards
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An Interview with Michael Nathanson About the Streaming Endgame
An interview with Michael Nathanson about the endgame for traditional media companies as the streaming wars near their end, plus AI bubble questions and the future of analysis.
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Microsoft EOLs Skype, Skype’s Founding, Microsoft’s Skype Charity
Microsoft is pulling the plug on Skype, a service they never should have acquired and on which they spent way too much time and money; I’m still sad.
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The De Minimis Loophole, Impact on Amazon and Meta, AI and Abundance
Trump’s new tariffs take aim at the de minimis exception, which has undergirded Temu and Shein growth, and had knock-on effects on Amazon and Meta.
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Microsoft Earnings, Meta Earnings
Microsoft and Meta both emphasized their optionality as models become a commodity.
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An Interview with Daniel Gross and Nat Friedman About Models, Margins, and Moats
An interview with Daniel Gross and Nat Friedman about Stargate, DeepSeek, and where the margins and moats will come with models.


