Meta's selloff reflects spending that consumes revenue growth: free cash flow is negative for the first time since 2012 with more spending planned, and a new share class dilutes C holders while the founder's voting stake falls from 60% to 53%; offsetting that, ad impressions rose 10% and price per ad 14%.

is it anything worth saying on Met on Meta? Is the stocks down 8%. Meta after hours last night after the report was getting a lot of pats on the back. The stock traded up to 750 almost.

It's now 650. It's like a 14% swing. So I listened to the call. I listened to the call and it was basically a uh it was a call for Muse. It was It was all about Muse. Yeah. The entire which is their new agent.

There's 10 million people using it. Um and it's all for white collar workers. It's all for people that are doing their calendars, their emails, their shopping. Stripe or Plaid has never seen the average ticket size as big.

It's $200 per purchase. It's for people with money that whatever.

Um, how did you feel about the new share class for uh I mean I I thought that that was um uh please everybody. No, he has to cuz he's going to be he's going to be doing ATM uh offerings at some point and he's got a plan for that and like he's going to have to finance a lot with new capital. Well,

and it's cheaper to cheaper to dilute C the C shareholders, keep himself from being diluted. So, he's going to do it. Well, he would go from 60% to 53% of the voting shares. Look, sorry to cut you off.

I forgot to put this into a proper chart, but the red line is expenses and the blue line is uh revenue growth.

And the red is going Oh, do this one. Do the free do the free cash flow chart. This is really the story. I mean, it's just disgusting. Uh this was the one of the three most profitable businesses in the history of capitalism.

Yes. And now they are go they are spending it all. This is their this is their first negative free cash flow quarter since 2012 and it's and it's not enough. They need more.

Um some of the good stuff from the call ad impressions up 10% year-over-year. That's AI ROI. Like they get better at serving ads. Average price per ad plus 14%. Um 3.64 billion people using their apps.

Here here's one more here's a quote. Uh getting back to our early dark society kind topic, there are two primary factors that drive our revenue performance. One, our ability to deliver engaging experiences for our community, our ability to addict, and two, our effectiveness at monetizing that engagement.

That's what they're doing. And that's and that's the one. That's it. And that's and that's the business plan.