I just looked up the figures, and they're astonishing. Meta makes giant amounts of cash in ways I do not understand.

Meta's customers are advertisers. Their tools for advertisers are the best in the business. Facebook and Instagram users are the product.

That box of cereal you buy at the grocery store for $5 does not cost $5 to manufacture, not even close. A shitload of money goes into advertising, and Google and Facebook own that entire industry nowadays, or near enough. They are basically collecting a tax on all commerce.

No, sure, I know, although I think the logistics and the store's staff and premises are the big contributors to the non-manufacturing costs. It just seems insane that Facebook is able to do that. But I guess that's my fault for never being on Facebook. I don't know what the ad situation is these days.

I'm just going to collectively answer this current thread in this comment. You all may want to Google that. And maybe avoid investing altogether. Just some friendly advice because how does everyone not know this? It's been plastered across the news for months including here on HN.

https://www.forbes.com/sites/dereksaul/2022/11/03/meta-is-th...

I mean they definitely know what they’re doing when it comes to advertising but what’s with the Metaverse? I mean what problem are they trying to solve there?