Increasingly, Meta has been using debt to fuel its spending, amassing $59 billion in long-term debt on its balance sheet by the end of 2025, double the prior year’s total. And that doesn’t count the “aggressive” accounting it has used to keep the cost of a $27 billion Louisiana data center off its books. “The spending growth looks increasingly unsustainable,” The Wall Street Journal’s “Heard on the Street” columnist Asa Fitch wrote this week.
Now, as the company careens from one staggeringly expensive misadventure to another, its cash-cow core business is starting to wear out. Last quarter, the number of daily active users across its properties declined for the first time to 3.56 billion from 3.58 billion.
What a stupid cope.
Meta is simply too big to fail, they can do whatever they like. Name a single big tech company that died in the last 20 years. Hell, even Oracle who make basically nothing of real value is doing incredibly well.
Yahoo and MySpace come to mind. Probably could count Nokia and Blackberry, although they were more phone/hardware.
Possibly AOL, but their “death” may have been more than 20 years ago.
And while technically some of those companies “exist” in some capacity today, I don’t think we’d consider any of them except Yahoo as anything but a name/brand at this point.
Nokia is doing just fine. They’re mostly focused on networking stuff nowadays. They left the phone business when MS bought it.
Yeah, I was kinda considering the phone part a separate business and it definitely died after MS bought them.
Yahoo isn’t really dead. It’s still in the top 20 sites, and Yahoo Mail still has 225 million users,
Damn, I didn’t realize it was still that high. I know that yahoo finance was big for a long time, but figured that had finally passed.
I guess I wouldn’t count that as dead then.
Was it Worldcom? Or was that also older than I think it was? I forget when Gateway died, same with Compaq. Cell carriers die off all the time.
Worldcom was more than 20 years, but I also don’t know how “big” they were.
Gateway and Compaq might count, although just around the cusp.
Worldcom was absolutely huge. https://en.wikipedia.org/wiki/MCI_Inc.
I guess I was thinking of companies with an international presence, or did Worldcom exist outside of north America?
None of them entirely die … they just become hollow shells of their former selves, sold off to another company to use the IP rights. See: Yahoo.
speaking of oracle, they recently loaded up on debt and got into deals that are all but impossible to fulfill, and in a couple of years their survival will depend on openai making profit. (not revenue) put a pin in it and come back to that in a year or three
Fingers crossed
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