Facebook's Debt Leaps to Over 51 Billion Dollars
Remember they've already tried to become a "bank" ("Libra") and VR company ("metaverse")
This past week GAFAM released a number of financial reports, wherein the "buckets" being reported on are misleading, mainly buzzwords, and there is no proper explanation of what's what. They like to claim 'growth', even if it's patently false, faked or superficial. In the case of Facebook, which fancies calling itself "Meta" even after "metaverse" failed spectacularly, the debt grew a great deal. Despite many waves of mass layoffs, there's no viable future for the company other than mass surveillance and manipulation of public opinion through various "social control" tentacles, notably Instagram, WhatsApp and Facebook.
A lot of this is a bubble, aside from the bubble the media irresponsibly dubs "AI". Facebook is an oversized company and its bread and butter is rapidly expiring. A lot of companies in Wall Street are like this and days ago some respectable voice sounded the alarm about the NVidia bubble, which relies almost exclusively on volatile, temporary demand. █
