That’s an absurd amount of money and frankly they have a little to show for it. For sure, they are the clear market leader with near-monopoly in that area but are not exactly light years ahead of competition in tech and presentation which I’d expect to be the case with investment that big.
I’m mildly worried if detailed breakdown of all that spending makes no sense. That would be a tell of potentially wider organization inefficiency of ridiculous proportions.
(Position disclaimer: yes I own Meta stock)
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