Meta is so weird. There are articles in the financial press about how "Zuckerberg's Metaverse bets are paying off", even though, to an extremely good approximation, zero people use any Metaverse products at all. Stocks are going up and up despite extremely weak narratives to justify them. I think this is not actually a measure of these companies' strength, but of the dollar's weakness. Stories like "we will all live in a cyberpunk dystopia ruled by Mark Zuckerberg" and "chatbots will perform most work very soon" have become more believable than "the dollar's ability to purchase houses will decay by no more than 2% each year". Since only flimsy narratives are required and nothing really needs to be constructed, no actual engineers need to be paid.
Meta is so weird. There are articles in the financial press about how "Zuckerberg's Metaverse bets are paying off", even though, to an extremely good approximation, zero people use any Metaverse products at all. Stocks are going up and up despite extremely weak narratives to justify them. I think this is not actually a measure of these companies' strength, but of the dollar's weakness. Stories like "we will all live in a cyberpunk dystopia ruled by Mark Zuckerberg" and "chatbots will perform most work very soon" have become more believable than "the dollar's ability to purchase houses will decay by no more than 2% each year". Since only flimsy narratives are required and nothing really needs to be constructed, no actual engineers need to be paid.
> There are articles in the financial press about how "Zuckerberg's Metaverse bets are paying off"
I'm always in the mood for a good chuckle if you happen to have a link to one of those.
https://www.bloomberg.com/news/articles/2024-09-28/zuckerber...
“Welcome to the party pal.” - the rest of us.