nuff said
this post was submitted on 15 Jul 2023
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Meta is pumping ungodly amounts of money into a moon shot (VR) because it is in stagnation phase and their market is saturated - so they do care about growth quite a bit.
We were talking about growing the userbase. Growth of the business is something different. Of course any company is interested in growth. However, I don't think usercount growth is the metric Facebook is looking at currently.
Look at Amazon. The cloud division is now more profitable than the Amazon website. Facebook is looking to use those large profits to branch out in different directions. Some like the metaverse won't work. Just like Amazon's echo didn't become profitable. But others eventually will.
If your business relies on the size of your userbase than those things are quite related. Again, not a coincidence that while facebook is stagnating meta is desperately trying to force vr.
It's doing double digit billions in profit every year. Both Facebook and Meta. They're actually doing quite all right even with the VR fiasco.
And even iftheir only possible growth vector was user count(which it isn't), they have close to 3 billion active users monthly with over 2 billion people using Facebook daily. It is impossible to grow. There are no more people.