>In April, Meta reported first-quarter revenue rose 3% from $27.91 billion a year earlier, after three straight periods in which it declined.
>Despite the cost cuts, Meta is still investing heavily into the nascent metaverse, and its Reality Labs unit, which is developing virtual reality and augmented reality technologies, logged a $3.99 billion operating loss while generating $339 million in sales in the first quarter.
>Investors have praised Meta’s major cost-cutting, sending the social networking giant’s shares rising 180% to $246.74 since bottoming at under $89 in November.
the company has money, management keeps investing in a dead end product & making workers pay the price for its lack of success, and the soulless ghouls who parts of the company make money off people losing their jobs
>Despite the cost cuts, Meta is still investing heavily into the nascent metaverse, and its Reality Labs unit, which is developing virtual reality and augmented reality technologies, logged a $3.99 billion operating loss while generating $339 million in sales in the first quarter.
>Investors have praised Meta’s major cost-cutting, sending the social networking giant’s shares rising 180% to $246.74 since bottoming at under $89 in November.
the company has money, management keeps investing in a dead end product & making workers pay the price for its lack of success, and the soulless ghouls who parts of the company make money off people losing their jobs
this seems wrong