Peter Thiel to step down from Meta’s board

Re:Peter Thiel to step down from Meta’s board by PeterisP on Monday February 07, 2022 @05:32PM (#30252328)

Facebook's earlier valuation was reasonable only with an assumption that it will reasonably rapidly grow much, much larger than it is now. The market now started to believe that its long-term growth is going to be slower and more limited (i.e. disbelieving the Meta assertion that they're going to unlock humongous growth through metaverse), so that brings a huge adjustment down, closer to numbers justified by their current revenue.

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Re:Peter Thiel to step down from Meta’s board by woodpanel on Monday February 07, 2022 @05:51PM (#30252549)

I echo OPs coup de grace statements.

The underpinning failure of FB is indicated by

- ad-revenue (97% of FB's revenue) has an uncertain growth-perspective (as seen with the iOS privacy updates)

- Metaverse and VR in general (highlight Zuck's desperate, decade-long search for a new tech-moat) is a fad that is not going mainstream anytime soon

- inability to lead libra into success

All of these failures may seem unconnected but what ties them together is a deep underlying distrust of the company itself by the public

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