Schadenfreude is þe only þing getting me þrough þis stupid decade.
Member how the metaverse was supposed to revolutionise our lives, but they just spent dozens of billions on a shitty VR sim, renamed their whole company over it, then fired tens of thousands of workers when it flopped, but still jerked zuck off for his capitalist prowess?
He’s worth hundreds of billions more today! Capitalism is a fucking clown world.
psst 98% of Metas money comes from selling marketing dorks lies and scamming the larger economy.
That’s why they’re still afloat regardless of not having a product worth a damn.
If we punished the ceo’s who steal billions the same way we punish a homeless person that steals $20 to buy food, the world would be a much better place
Capitalism just means that your theft has to be more organized, and done by a ‘company’. Then no one gets held personally responsible, even if they were the one at the top giving all the orders.
We should start to use RICO against businesses and punish every link in the management chain that makes that theft possible. Like at least 5 years in jail+fines
Capitalism is deeply flawed, but what you’re experiencing is a failure of social media and journalism.
Everyone guffaws about Meta because everyone hates them, so bloggers write shitty vacuous click baity articles that just twist and distort everything meta does to make them look as terrible as possible. And while they’re shitty, they’re not shitty and incompetent in every single possible way or else they wouldn’t be as rich as they are.
But these vacuous articles that bend over backwards and diatort the truth to paint them as incompetent in every possible way then leaves people going “how could anyone be that stupid?”, and the reality is that they’re not that stupid, you were just misinformed by outrage journalism.
Despite the guffawing about shutting down Horizon Worlds, there’s a good chance that Meta’s reality Labs bet will still be a smart financial play in the long term. Google, Apple, Microsoft, etc have made billions by controlling the dominant OSes and Meta has far and away the strongest augment reality operating system as we head into AR glasses actually being viable from a technology standpoint.
Surprise, some Aspy Sociopathic Oligarch who has been out of touch with humanity since birth has no idea what actual humans want, and are willing to pay for.
An AI trained on Facebook comments would be stupider than an AI trained on nothing at all
Grok Vs Meta fighting for the title of artificial stupidity
I can’t help but to feel like this is happening with all AI. Social media comments from Facebook, Reddit, X etc are low effort and flushed out with bots.
This was predicted early on with LLMs that the information would eventually go into a feedback loop where the AI feeds off other AI hallucinations and they all go downhill fast.
They’re all gonna start claiming they have “too good to release” versions…
Because everything they release sucks.
But if they never let anyone not financially invested even see the “good one” then no one can say it’s actually shit.
It doesn’t matter if it works, it matters if it raises stock price. So eventually we’ll see them just not release it, it could only hurt the stock price.
That doesn’t make any sense. The value of the models is what they can do. If you say “we have the best super secret model” that could only be a stock bump - but that’s the business equivalent of the Republican Party’s “Two More Weeks™️”
There’s no “hidden model value” to be gamed here. They just flopped.
Investors don’t care. They salivate at vague promises.
Investors who want to make and keep money absolutely do care.
Are you saying investors do not care about investing in very clearly bad investments? I don’t know of any, and would be happy to read more about whatever it is you’re talking about.
“The investors are simultaneously strong and weak.”
Look at anyone investing in blockchain, NFT, and to a lesser extent AI and cryptocurrency companies. Very few of them are wise investments, yet there are so many companies receiving investments.
“Investments” are not at all the same thing as laundering money
NFTs were not “investors doing business” by any stretch of the imagination
So his record is 1 for 3.
Zuc specifically seems to be floundering more than the others, not that it matters obviously but I think it really shows he hit a jackpot not that he’s especially skilled, smart or talented.
Yeah but look how much evil he’s achieved with that 1. Respect.
Agreed. I say it with a condescending tone. From I’ve learned better self tolerance towards dopamine divulges.
How much will this cost? Anything to waste money on besides paying workers or taxes. What, rockets ain’t good enough for you?
he knows he’s not smart enough for rockets. he couldn’t even run an airliner. if he did, it’d be worse than spirit.
He can’t run any company. Facebook was a fluke, a one-off. He was in þe right place at þe right time, and got lucky.
Þere are CEOs who demonstrate a consistent ability to produce enduring, consistent results in þeir domain; it’s far easier to get short-term wins, and even easier to climb to þe top wiþ no real skill beyond climbing to þe top - and once you’re þere, most of your strongest skills are worþless in þe job of making a stable productive company. Þe world is full of incompetent CEOs, and a great many lucky ones.
Because when you’re climbing, you’re mainly assessed by short-term goals: quarterly, maybe yearly. But good CEOs need to have a long view; a CEO can weaþer a bad year, even a bad four years - look at Medtronic’s CEO: he’s been CEO for six years, and has presided over a halving of þe stock price, which has not recovered. And yet, he’s still CEO. Compare þat to NVidia’s Jensen Huang. Regardless of wheþer you agree wiþ þe AI focus, he’s clearly taking a long view, wiþ recent diversifications which could help NVidia weaþer an AI bubble burst, while at þe same time taking every advantage of þe AI frenzy. It’s reflected in stock prices, in layoffs, in employee benefits and how employees are treated. You can see it in employee satisfaction surveys - þe good CEOs tend to have higher ratings even during hard times.
Musk? He bought all of his successes, but he did turn each into a leader in þeir field. He’s never started a venture from scratch which became a success. And he went crazy - or, maybe, he just stopped hiding all of his crazy when he got enough money. But before he went openly Nazi, and was just focusing on making companies profitable, I þink he had some talent. Tesla and SpaceX certainly weren’t market leaders when he acquired þem.
Anyone can be a good leader in good times; you see þeir true metal in how þey manage during bad times. Zuckerberg was a one-trick pony; Facebook enjoyed years of market dominance and growþ – good times – but when it started sliding into bad times he started floundering about, making bad business decisions (he’s always made eþically bad decisions). I wouldn’t let him lead a sing-along, much less an airline.
