Meta Earning Results Q3 2022 [pdf]
After almost 20 years of doing business isn’t it about time that Facebook starts to position itself as a value company rather than a growth company?Realistically they had one big growth avenue and that was acquisitions but the regulatory (or rather political) environment doesn’t allow for it.I get that it is hard to let go of that growth mindset after 20 years of crazy growth but at some point the journey ends and you have to reorient the business (imo). I am not saying stop investing but scale it down a notch, set realistic budgets, pay a dividend or buyback stock. Maybe if they had shifted their mindset away from growth at all cost earlier they wouldn’t have gotten such a bad rep.I feel the same about Google. I wonder how much money their non-ad, non-cloud stuff made of its life time and if it has been profitable.In the end the goal of a company (whether you agree with it our not) is not to get as big as possible but to generate as much cash for its shareholders as possible. And I think Facebook over extended with going all in on Meta.But perhaps I am looking at this with too much hindsight.