Discussion

• @altcap Brad Gerstner on x

  We just published an Open Letter to Mark Zuckerberg and the Meta Board urging them to tighten their belt and sharpen their investment focus. The plan would 2x annual FCF to $40B, double down on AI, and put a cap on metaverse related investments. https://link.medium.com/...

• @alex @alex on x

  what is notable in this now that i think about it is that zuck can just say ‘no’ and nothing more as he has voting control? https://medium.com/...

• @bgurley Bill Gurley on x

  $META trades at a 12 P/E & less than 3X P/R, well below big tech peers. Why? E & R don't drive stock prices, FCF does (see @mjmauboussin). @altcap steps out on an unprecedented limb to highlight. Last 5 years encouraged behavior that is hard to “unlearn.” https://t.co/Bna3d7d4Ry

• @modestproposal1 @modestproposal1 on x

  🔥 “It is a poorly kept secret in Silicon Valley that companies ranging from Google to Meta to Twitter to Uber could achieve similar levels of revenue with far fewer people” via @altcap https://medium.com/... https://twitter.com/...

• @jimcramer Jim Cramer on x

  The lack of respect for $META is incredible...

• @eric_seufert Eric Seufert on x

  I've always wondered if stockpiling engineers & paying them so handsomely that opportunity cost dictates their career decisions is a defensive strategy by Facebook and Google to starve potential competitors of necessary talent. If so, I'm not sure how compelling this argument is.…

• @galteecap @galteecap on x

  @IndraStocks IMO this is nothing more than a PR stunt from Brad to engender some goodwill with pissed off clients given he's down >60% YTD on the position. Zuck was pretty clear a year ago (when the stock was >300) that metaverse was multi-year lift. Could have sold there..

• @altcap Brad Gerstner on x

  Supermajority voting control? I think companies and founders execute better without it. But it can work. The best kings (or queens) are not despots. They are constantly learning, evolving and balancing the interests of those in the kingdom... https://twitter.com/...

• @borrowed_ideas @borrowed_ideas on x

  @altcap one challenge that I see with Meta drastically scaling down its opex budget is its primary competitor today already has similar opex budget (if WSJ reporting is correct). Some cost rationalization has been promised, but as a shareholder I don't want Zuck to take drastic a…

• @nrmehta Nick Mehta on x

  This letter from @altcap to @Meta management about reducing headcount and capex is very well articulated and captures the spirit from investors about many growth tech companies right now. https://medium.com/...

• @timnitgebru Timnit Gebru on x

  “We also believe Meta's investment in AI will lead to exciting & important new products that can be cross-sold to billions of customers. From Grand Teton to Universal Speech Translator to Make-A-Video, we are witnessing a Cambrian moment in AI,...” 🙄 https://medium.com/...

• @indrastocks Indra on x

  If you currently own $META under a thesis of cost cutting, what exactly are you doing? It's very clear they are investing heavily into AI and Metaverse and Zuckerberg personally believes both are absolutely paramount. They've built a large lead in VR, why toss it now?

• @borrowed_ideas @borrowed_ideas on x

  @altcap especially when the primary competitor is flexing its opex budget to acquire new users and going on a hiring spree with higher than market comp structure. Opex growth should trail topline growth going forward, but a machete on opex today may not be positive for the long-t…

• @frantzfries Chris Frantz on x

  @Carnage4Life Zuck runs the show, they can't do anything

• @scobleizer Robert Scoble on x

  This advice will look incredibly stupid in just a few months. https://twitter.com/...

• @mhbergen Mark Bergen on x

  New rule: no ceos tweeting journalism for the engagement without linking to it https://www.bloomberg.com/... https://twitter.com/...

• @jowyang @jowyang on x

  Open letter to Facebook/Meta: Cut headcount, cut hosts, “Get fit” Related: Musk to fire 75% of Twitter staff (as if content quality issues aren't already a problem) https://medium.com/...

• @mayazi Maya Zehavi on x

  If only shareholder governance mattered in a dual share company, the irony is that web3 is emulating the same distortions https://www.bloomberg.com/...

• @fmanjoo Farhad Manjoo on x

  big shareholders getting very jumpy about the billions FB is spending on metaverse and recent hiring. Altimeter suggests 20 percent headcount cut https://medium.com/...