The Corporate Media Pretends That Facebook ("Meta") Has Performed Well, But Its Debt Doubles Every 2 Years Despite Mass Layoffs
Be reasonably wary. Become sceptical. This week we see corporate media trying to blame "China" for bubbles that implode (and had nothing to do with China). This same corporate media participated in creating those bubbles; the corporate media is owned or funded by those who stand to profit from inflating the bubbles. Not surprisingly, they try to see how far they can go with this, then demand bailout by declaring "AI arms race" or "energy crisis" (created by themselves).
"HEY HI" (AI)? Just another "metaverse"....
Why did so much of the media help Facebook's hype campaign around "metaverse"?
That same media also helps parrot misleading financial claims.
On top of that, it misreports or refuses to report on some layoffs.
Things are worse than they seem to those who rely on oligarchs-owned media.
Hours ago we saw a report calling Microsoft a company "worth" over 3 trillion dollars. Funny for a company with less than 17 billion dollars (<0.017 trillion) in the bank and over 100 billion (>0.1 trillion) in debt. How does Scam Altman manage to squeeze numbers like 7 trillion dollars into the media [1, 2] in relation to a company that loses money like crazy and how is one meant to believe a debt-saddled GAFAM? Hours ago we saw a Facebook-funded publisher talking as if Facebook performed spectacularly well when so many people get laid off and in spite of those layoffs debt is spinning out of control (see the screenshot above; source).
Suffice to say, as Facebook lays off more people it gets smaller and the smaller it gets, its potential or capacity to pay back the debt also diminishes. If all that's left of Facebook is 1,000 people (think Nazi Twitter, now "X" led by Snoop DOGE), that would be like 50 million in debt per employee. █