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523

Meta Is Dying. It’s About Time. (www.nytimes.com)

submitted 4 days ago by mysticpickle@lemmy.ca to c/technology@lemmy.world

124 comments fedilink hide all child comments

Increasingly, Meta has been using debt to fuel its spending, amassing $59 billion in long-term debt on its balance sheet by the end of 2025, double the prior year’s total. And that doesn’t count the “aggressive” accounting it has used to keep the cost of a $27 billion Louisiana data center off its books. “The spending growth looks increasingly unsustainable,” The Wall Street Journal’s “Heard on the Street” columnist Asa Fitch wrote this week.

Now, as the company careens from one staggeringly expensive misadventure to another, its cash-cow core business is starting to wear out. Last quarter, the number of daily active users across its properties declined for the first time to 3.56 billion from 3.58 billion.

(page 2) 50 comments

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[–] SunshineJogger@feddit.org 11 points 4 days ago

At this point I wish for every mega Corp to die before they turn even more into tge cyberpunk dystopia visions of 80s movies.

[–] Tempus_Fugit@lemmy.world 11 points 4 days ago

My only exposure to Meta has been Facebook. I stopped using it regularly in 2019 when I became sick of all the political warfare and tired of losing respect for those I love. I completely deleted my account in 2025 after Zuckercuck started cozying up to Trump. I can only hope folks get sick of it. My friends all mainline FB on the daily and it sucks. So many community groups are run exclusively from FB. Events where FB is the only advertisement. They have a crazy hold on the town square and that's dangerous.

[–] farmgineer@nord.pub 9 points 4 days ago

I'll open a bottle of something nice when this happens, along with doing a happy dance, but I think that cork is staying put for now.

[–] Elilol@fedinsfw.app 8 points 4 days ago

they botched their own product. lets stop using it.

[–] Fizz@lemmy.nz 7 points 4 days ago

Dont do that, dont give me hope

[–] Mika@piefed.ca 6 points 4 days ago (2 children)

Declined from 3.58 billion to 3.56 billion, that's practically noting

[–] potter2010@lemmy.ca 2 points 3 days ago (1 children)

While it's not a massive drop percentage wise, it's still 20 million less daily active users.

[–] Mika@piefed.ca 1 points 3 days ago* (last edited 3 days ago)

Given that it's unusable mess the numbers are still absolutely great. I do see 60-70% posts as ads / some random shit I've not subscribed on. I do see posts from my friends from 3w ago in the general feed. I don't see posts from people important to me. I stopped using it not cause of the content on the platform - but because of the platform made it impossible to see the content.

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