Eli5 why Meta is doing so poorly since people are still using it and advertising on it.
In: 4
Facebook has a lot of mobile users. Many of them are on Apple, and these users tend to trend richer, which makes ads directed at them more valuable. Until Apple changed its rules on tracking, making it much harder for Facebook to deliver customized ads.
According to Facebook, that lowered revenue by $10 billion a YEAR. It’s that ongoing loss that crushed Facebook, which had been really good at growing revenue (and still has earnings and margins that most companies would kill for)
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