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· Posted on
February 21, 2024

Zuck has pulled a rabbit out of his hat - from fumbling in the Metaverse to flourishing in ad revenue

In the second quarter of this year, Meta saw an 11% increase in revenue from last year.

What's the key learning?

  • Meta's revenue increased showed that increased cost-cutting of big bets like the Metaverse and big investments in AI are starting to pay off.
  • The "pivot or perish" strategy can sometimes prove to be a game changer for businesses.
  • Meta thought that staying ahead meant building a whole new world in the metaverse, but what saved it is pivoting towards more advanced AI technologies.

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👉 Background: It's fair to say Meta faced some turbulent times over the past year:

👉 What happened: Now, Meta is kinda back - in the second quarter of this year, Meta saw an 11% increase in revenue from last year. We're talking a whopping $32 billion in just 3 months.

👉 What else: The "year of efficiency" that Zuck promised is starting to pay off. Increased cost-cutting of big bets like the Metaverse and big investments in AI.

What's the key learning?

💡The "pivot or perish" strategy can sometimes prove to be a game changer for businesses.

💡Meta thought that staying ahead meant building a whole new world in the metaverse and spending more than $1 billion per month on avatars without legs... But they clearly didn't read the room.

💡So before it was too late, aka 'perish' time, it pivoted towards more advanced AI technologies. And it swooped on new features such as Reels and then Threads.

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