Discussion

• @sylviavarnham Sylvia Varnham O'Regan on x

  Meta CEO Mark Zuckerberg says on an earnings call that the company plans to flatten its structure to remove layers of middle management, and to be more proactive on cutting projects that aren't performing.

• @pythianism Vance Spencer on x

  pretty funny that silvergate bought the libra IP for $200M, realized it was open source, then wrote down the investment to 0 in q4 meanwhile aptos/mysten/moveclones doing cartwheels if the instos hired people that had sent a eth tx, maybe they wouldn't get buckled every cycle

• @astaniscia86 Giulio S. on x

  Meta's year of efficiency is AI powered: Advantage+: $4 billion annual run rate https://www.businessinsider.com/ ... https://twitter.com/...

• @ranjanxroy @ranjanxroy on x

  Zuck never talks about the metaverse in his intro: https://twitter.com/...

• @levynews Ari Levy on x

  Imagine Zuck in his dorm room 20 years ago forecasting 2023 as the ‘Year of Efficiency’ via @JonathanVanian https://www.cnbc.com/...

• @thetranscript_ @thetranscript_ on x

  5. On weak ad demand: “Consistent with our expectations Q4 revenue remained under pressure from weak advertising demand, which we believe continues to be impacted by the uncertain and volatile macroeconomic landscape” - $META CFO https://twitter.com/...

• @thetranscript_ @thetranscript_ on x

  A live $META thread for Q4 22 Earnings call: 1. CEO Zuck starts off by firing some shots at critics: “I said last quarter that I thought our product trends look better than most of the commentary out there suggests” https://twitter.com/... https://twitter.com/...

• @kurtwagner8 Kurt Wagner on x

  Also it is rare that canned CEO earnings statements are interesting, but this one from Zuckerberg seems a tad ominous... “Our management theme for 2023 is the ‘Year of Efficiency’ and we're focused on becoming a stronger and more nimble organization.” https://twitter.com/...

• @sama Sam Altman on x

  “generative AI” is IMO a dumb term and i hope it doesn't stick ("genAI" is obviously even worse)

• @lexnfx Alexei Oreskovic on x

  I'll need to check the transcript, but it sure feels like Zuckerberg has said “generative AI” more times than he has said “metaverse” on this earnings call.

• @kyurieff Kaya Yurieff on x

  Tattooing the ‘Year of Efficiency’ on my forehead

• @scottnover Scott Nover on x

  What I appreciate about Mark Zuckerberg is that he's never had an original idea in his life. https://twitter.com/...

• @lexnfx Alexei Oreskovic on x

  Mark Zuckerberg has caught the generative AI bug. One of Meta's goals, he says on earnings call, is to build on the company's research to “become a leader in Generative AI.”

• @qwongsj Queenie Wong on x

  Curious how Meta workers feel about all this efficiency talk after mass layoffs. At one point, Zuckerberg said he thinks the company will be a more “fun place for people to work because I think they're gonna get more stuff done.”

• @ryanbarwick @ryanbarwick on x

  Meta's AI investments are helping ads hit their targets. Hard to prove...but idk, can't lie in earnings https://www.wsj.com/... https://twitter.com/...

• @jimcramer Jim Cramer on x

  Refreshing degree of humility and modesty on the Meta call, too. I like that

• @hackteck Erik on x

  No mention of the word metaverse in Zuck's comment blurb on 📉2022 results: “[...] our management theme for 2023 is the ‘Year of Efficiency’ and we're focused on becoming a stronger and more nimble organization” https://investor.fb.com/...

• @karissabe Karissa Bell on x

  Zuckerberg says he wants Meta to become a leader in generative AI

• @jordannovet Jordan Novet on x

  The Year of Efficiency reminds me of The Airing of Grievances

• @jclarachan J. Clara Chan on x

  how many more execs will say “efficiency” in their earnings calls

• @jimcramer Jim Cramer on x

  I like that Meta management used the term “efficiency” or “efficient” 16 times because i have NEVER regarded them as efficient. Really good news for shareholders

• @qwongsj Queenie Wong on x

  Meta still focusing on AI and the metaverse. Zuckerberg says he thinks that AI will enable new products and that one of the company's goals is to “become a leader in generative AI.”

• @amasad @amasad on x

  Zuck seems super serious about the TikTok threat, and prioritizing AI over metaverse generally. https://twitter.com/...

• @naominixwrites @naominixwrites on x

  Mark Zuckerberg says publicly what he already told employees privately. The company plans to flatten the company and remove layers of middle management.

• @chrismessina @chrismessina on x

  @KurtWagner8 Echoes exactly w/ what @eldsjal said on the $SPOT earnings call. https://open.spotify.com/... https://s29.q4cdn.com/... https://twitter.com/...

• @thetranscript_ @thetranscript_ on x

  2. On Reels: “...In terms of the revenue headwind, we're still on track to be roughly neutral by the end of this year, maybe early next year and then after that we should be able to profitably grow Reels while keeping up with the demand that we see” - $META CEO

• @issielapowsky Issie Lapowsky on x

  Am I doing this right? [Distracted Boyfriend Meme: Zuck eying Genertive AI, ignoring the metaverse]

• @mattrosoff Matt Rosoff on x

  Boz seemed to be channeling the Year of Efficiency here....maybe he's the Zuck whisperer: https://www.cnbc.com/...